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Heights Yr 9 Busines

TermDefinition
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Drawings The money withdrawn from the business by the owner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.
Created by: sradloff
Popular Accounting sets

 

 



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