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voc5
vocabu;
| Question | Answer |
|---|---|
| Accounts payable | Expenses that have been incurred but not yet paid. |
| Accounts receivable | : Sales that have been made but not collected |
| Assets | : Items of value owned by the business |
| Balance sheet | A financial statement that shows what a business owns, what it owes, and how much it is worth at a particular point in time. |
| Break-even point | The point at which the money from product sales equals the costs of making and distributing the product |
| Cash flow statement | A financial statement that shows the flow of money in and out of the business. |
| Copyright | Legal right to exclusive publication, production, sale, or distribution of a literary or artistic work |
| Cost of goods sold | The dollar amount a company pays to purchase a product for resale |
| Current assets | Cash or items of monetary value that can easily be converted to cash and that are used up by a business within one year |
| Current liabilities | Financial obligations that will be repaid within one year |
| Current ratio | The comparison of current assets with current liabilities. |
| Economic outlook | Trends associated with the economy that can impact your business's sales. |
| Expenses: | All costs associated with running a business except for the cost of goods sold. |
| Fixed assets | Items of monetary value that are not easily converted into cash. |
| Fixed expenses | : Business expenses that do not change month-to-month, but rather remain the same for a period of time. |
| Goodwill | Customers' approval and support of a business |
| Gross profit on sales | Net sales minus the cost of goods sold |
| Gross sales: | The dollar amount of all sales, usually within a one-year period |
| Income statement | A financial statement that shows the income, expenses, and profit/loss for the business over a period of time, usually a year. |
| Income taxes payable | Monies due to the government |
| Intangible assets | : Items of value that the business owns that cannot be seen or touched |
| Inventory: | The quantities of goods and materials on hand |
Created by:
niyo
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