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IDS 102 Chapter 4 Review

Teacher: Teresa Wisvari
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Across
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Any person to whom a business owes money
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The field of accounting that focuses on providing information for external decision makers
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Debts that are owed to creditors
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Shows the changes in the owner's capital account for a specific period
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Economic resources that are expected to benefit the business in the future
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Short-term liability that will be paid in the future
Down
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Any event that affects the financial position of a business such as a sale
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Field of accounting that focuses on providing information for internal decision makers
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Receive cash in the future from customers for goods sold or services performed
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Principle that states that acquired assets and services should be recorded at their actual cost
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Report on assets, liabilities, and owner's equity of the business as of a specific date
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Business with a single owner
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Person or group who provides money to start a business
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An examination of a company's financial statements and records