balance sheet terms Word Scramble
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Question | Answer |
what are drawings? | money or assets taken out of the business by the owner for their personal use. |
what are current assets? | short term assets that can be quickly turned into cash. |
what is a mortgage? | long term loan based on using property as security. |
what are debtors? | people or businesses that owe money to an organisation. |
what are current liabilties? | debts that a business must pay in the short term. |
what are fixed assets? | assets with a life of more that one year. |
what is a balance sheet? | statement showing the financial position of the oraganisation. |
Created by:
Boydj1
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