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Heights Yr 9 Busines
Term | Definition |
---|---|
Revenue | Money made by a business |
Asset | Something owned by business that adds value |
Owner's Equity | The interaction of the owner with the business |
Expenses | the cost required for something; the money spent on something. |
Liabilities | What the business owes to others (debts) |
Capital | The money invested into the business initially by the owner |
Drawings | The money withdrawn from the business by the owner |
Accounts payable | Bills the company owes to others for merchandise or services purchased on credit but not yet paid for. |