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Balance sheet

QuestionAnswer
Drawings money or assets taken out of a business for the owners use
Current Assets short term assets that can quickly be turned into cash
Mortgage long term loan based on using property as security
Debtors people or business that are money to an organisation
Assets items in a balance sheet that an organisation owns or is owed
Current Liabilities debts that a business must pay in the short term
Fixed Assets assets with a life of more than one year
Balance Sheet statement showing the financial position of an organisation
Created by: KarenSumal on 2011-02-22



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