Crossword Puzzle Basic Accounting Terms CrosswordOnline version Test your knowledge of basic accounting terms with this engaging puzzle. by Pauline Santos 1 Resources owned by an entity that provide future economic benefits. 2 Obligations or debts that an entity owes to outside parties. 3 The wealth or resources contributed by owners to fund operations. 4 Income generated from normal business operations and sales. 5 Costs incurred in the process of generating revenue. 6 The residual interest in the assets of an entity after deducting liabilities. 7 Records that summarize all transactions related to a specific item. 8 It is the amount to be collected from customer who receives the product or services with a promise to pay after some time. 9 It is the amount of goods available for sale at a given point of time. 10 is an amount owed (i.e. to be paid) to suppliers for goods purchased or services performed on credit. 9 8 4 7 5 10 1 6 3 2 1 Resources owned by an entity that have economic value. 2 Obligations or debts owed to outside parties. 3 The residual interest in the assets of an entity after deducting liabilities. 4 Income generated from normal business operations. 5 Costs incurred in the process of earning revenue. 6 Records that summarize all transactions related to a specific item. 7 The difference between total assets and total liabilities. 8 Financial assets or resources used for investment. 6 7 1 8 3 4
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