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Crossword Puzzle
Crossword Puzzle

Fundamental Accounting Concepts

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Fundamental Accounting Concepts
 

Crossword Puzzle

Fundamental Accounting ConceptsOnline version

Key terms to build basic accounting literacy.

by Nurin Najaa Aufa
1

A resource owned that provides future economic benefits.

2

A present obligation arising from past events.

3

Owner's claim on the business after liabilities.

4

Income earned from delivering goods or services.

5

Costs incurred in the process of earning revenue.

6

An entry that increases assets or decreases liabilities.

7

An entry that decreases assets or increases liabilities.

8

Accounting method recognizing income and expenses when earned or incurred.

9

Contra for capital

10

The acquired assets and services should be recorded at their actual cost

11

When the company use the same method from year to year

12

One of the expenses need to promote product or service

13

Systematic processs of recording, classifying, summarizing and reporting financial statements

14

Which financial statements commonly included contra account

4
12
6
9
13
8
1
11
10
14
5
2
7
1

A resource owned that provides future economic benefits.

2

A present obligation arising from past events.

3

Owner's claim on the business after liabilities.

4

Income earned from delivering goods or services.

5

Costs incurred in the process of earning revenue.

6

An entry that increases assets or decreases liabilities.

7

An entry that decreases assets or increases liabilities.

8

Accounting method recognizing income and expenses when earned or incurred.

9

Contra for capital

10

The acquired assets and services should be recorded at their actual cost

11

When the company use the same method from year to year

12

One of the expenses need to promote product or service

13

ACCOUNTING

14

Which financial statements commonly included contra account

4
12
6
9
13
8
1
11
10
14
5
2
7
 
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