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EOPA KHoliman2

Entrepreneurship Pathway

QuestionAnswer
Define profit The difference between revenue and expenses
Define ledgers Books in which financial records are written
Define operating expenses Salaries of sales and office staff, marketing costs, rent
Define depreciation The loss in value of a tangible asset
Define balance sheet A financial statement that reports assets, liabilities, and owner's equity on a specific date
Define securities Shares stocks and bonds
Define bank debt Loan capital including also any overdraft
Define accounts payable Money an organization owes to its vendors and suppliers
Define asset Anything of value owned by a business
Define fixed assets or short term assets Items that are relatively permanent, such as land, buildings, and equipment
Created by: kabrea98
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