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Accounting Vocabulary

Across
Amounts owed to others
A record that summarizes all the transactions in a single part of the accounting equation
The equation that shows the realtionship among assets, liabilities and owner's equity
The recording of the debit and credit parts of a transaction
General principals of right and wrong conduct that guide our decisions
A cost used to operate a business
Down
An account used to summarize the owner's equity in a business
Assets taken out of a business for the owner's personal use
A process of planning, recording, analyzing, and intrepreting financial information
A person or business to whom a debt is owed
Any activity that changes the financial condition of an organization
The owner's claim on an asset
An increase in equity resulting from the sale of goods or services
Anything owned of value