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Financial Statement Terms

Teacher: Patricia Pratt
Student:_________________________
Across
A snapshot of your business’s financial condition at a single point in time
Items that are held to be sold and is considered an asset of the business.
Something that a business much pay someone.
Something of value that a business owns.
Another name for Net Income
A group of statements that tells a company if they are profitable or making money.
The primary financial statement is the income and expense accounts over a period of time.
Payment for goods and services provide by a business.
All the expenses for running a business except for taxes.
assets - liabilities = what
Down
Expense that does vary with the volume of sales, services or hours worked.
The total amount of tax that an entity is legally obligated to pay to an authority as the result of earning money.
This expense is an example of a fixed expense.
Expense that does not vary with the volume of sales, services or hours worked.
A plan of personal or business receipts and spending for the future.
A written description of all the steps necessary to ensure opening and operating of a business.
Financial statements where you would find your change in cash for a business.
Revenue - Operating Expense - Tax =What