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Business Studies

Ch 17-19

TermDefinition
Trade Creditors is a person to whom we owe the money.
Bank Overdraft the firm has permission from their bank to overdraw their account to a certain agreed limit.
Expenses Due a firm could delay payment of their business expenses.
Term Loan is repaid over a period of 1-5 years. Loan+interest repaid.
Leasing the firm enters into an agreement with a finance company to pay them a fixed sum of money each month in return for the use of the asset.
Hire Purchase the deal involves 3 parties- the buyer,seller and a finance company.The finance company pays the seller in full for the asset and then collects the money in instalments from the buyer over an agreed period of time.
Issue Of Ordinary Shares involves the company selling shares to raise finance.
Retained Earnings profits can either be distributed to shareholders or retained in the business fro future investment or expansion.
Sale and Leaseback firm sell the asset to an investment company for its market value and then lease it back over a period of time.
Long Term Loan can be for a period of 25 years. Loan=interest must be paid back.
Grants non-repayable sources of finance available from the Gov and the EU.
Cash Flow Statement is a plan showing all the expected cash receipts and cash payments in a firm over a period of time.
Communication is the transfer of information, views and ideas from one person to another.
Planning the Business is a document that outlines the companies details, product, market research, sales promotion & finance. Its required when applying to financial institutions for loans.
Public Relations Officer is the person who is responsible for communication between the firm and the general public.