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POB Chapter 12 Vocab

Across
Difference between actual and budgeted performance.
What a company owes.
The financial report of employee compensation, deductions, and net pay.
a report of revenue, expenses, and net income or loss from operations for a specific period.
all income that a business receives over a period of time; government income.
Financial documents that are used to record and analyze the financial performance of a business.
a budget that plans income and expenses from the beginning of a new business or a major business expansion until it becomes profitable.
The process by which funds are deposited electronically and available automatically for your use.
Down
What a company owns; anything of value owned by a business.
documentation used to process earning payments and record each employee's pay history.
Costs of operating a business
a report that lists a company's assets, liabilities, and owner's equity at a specific point in time.
an estimate of the actual money received and paid out for a specific period of time.
Describes the financial plan for ongoing operations of the business for a specific period of time.
The value of the business after liabilities are subtracted from assets; the value of the owner's investment in the business.
Detailed plans for the financial needs of individuals, families, and businesses.