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Basic accounting terms Gr 11 ISC
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Horizontal
- 215 letters
- 3Goods sent back to the supplier. (14)
- 7Statement showing the financial position of a business on a specific date. (12)
- 9Surplus earned from normal business operations. (6)
- 10Goods sold by a business to customers (5)
- 11Customer who owes money for credit purchases from the business. (6)
- 12Written promise made by the business to pay later. (12)
- 13Owner's investment in the business. (7)
- 14Increase in owner's equity from non-routine activities. (4)
- 17Discount allowed for prompt payment (12)
- 19Goods returned by customers to the business (11)
- 22A resource owned by the business with future economic (5)
- 23Amounts that cannot be recovered from customers. (8)
- 24Total earnings of a business from all sources (6)
- 25Documentary proof of a business transaction. (7)
- 26Final earnings after deducting all business expenses. (9)
- 27Person who owns and controls a sole business. (10)
- 28A financial event recorded in the books of accounts (11)
- 29Excess of net sales over the direct cost of goods sold. (11)
Vertical
- 1Concept that treats the business as separate from its owner. (14)
- 4Cost incurred to earn revenue during an accounting period. (7)
- 5Items purchased or produced for resale (5)
- 6Written promise to receive money on a future date. (15)
- 8An amount the business owes to others. (9)
- 11Cash or goods withdrawn by the owner for personal use (8)
- 15Final account prepared to calculate gross profit or gross loss (14)
- 16Reduction in catalogue price given at the time of sale (13)
- 18Supplier to whom the business owes money. (8)
- 19Unsold goods available for sale at a given date. (5)
- 20Money spent to acquire assets (11)
- 21Goods bought for resale by a business. (9)
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