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Adv Accounting Terms

Teacher: Deremer
Across
Assets minus liabilities
An amount earned from rendering services or transferring resources to customers
A partnership composed of one or more general partners and one or more limited partners; only the general partners' personal possessions are at risk if the business should fail
A situation in which the money invested in a corporation is at risk but investors' personal possessions are not at risk if the business fails
A business owned by two or more individuals whose personal possessions are at risk if the business fails
A small business corporation owned by no more that 75 individuals; is profits are taxed at the individual level rather than the corporate level
The rights to use resources that have expected future economic benefit
Down
A company's total revenues less its total expenses for a period of time
A business entity owned by one person whose personal possessions are at risk if the business fails
Represents the claims on the business to transfer the residual interest (net assets of the business) to the owners
An amount incurred from using resources or services in an effort to generate revenues
A business entity that is legally separate and distinct from its owners
The obligation to transfer economic resources to suppliers of goods and services at some point in the future