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Introduction to Accounting

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Across
1.The effect of ‘returns out’ will reduce the ………. of a business.
6.Costs such as electricity bills which would be used to calculate net profit are often referred to as a businesses.
7.The two financial statements, the Profit & Loss Accounts and the Balance Sheet are known as the -------- accounts
8.The effect of ‘returns in’ will reduce the ………. of a business.
10.A ‘Return Out’ is stock that is returned to the?
12.The first section of the Profit & Loss Account which calculates Gross profit is called ….. account.
Down
2.The profit and loss account usually shows a business performance over ----- months.
3.Any property that a business owns can be described as an?
4.A ‘Return In’ is stock that is returned to the?
5.Any debt that a business has can be described as an?
9.Stock the business start of its financial year is known as its ----- stock.
11.Sales Revenue – Cost of Goods Sold is the formula for --- profit.

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