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Balance sheet
Question | Answer |
---|---|
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 |