Flashcards
Unit 3 Finance
Flashcards do conjunto (25)
- 1AssetsSomething that is owned by a business.
- 2AuditorSomeone who is qualified to examine a business's accounts and make sure they properly reflect the business's financial situation.
- 3Authorised capitalThe total amount of money that a company is allowed to raise through issuing shares.
- 4Average costThe unit cost of producing an item. Calculation - total cost/number of times produced.
- 5Break evenWhen a business sells enough items that its revenue is equal to its cost so its profit is zero.
- 6Cash InflowMoney coming into the business.
- 7Cash OutflowMoney spent by a business.
- 8A cash flow forecastA document that estimates future inflows and outflows and allows you to predict future bank balances.
- 9Cooperation TaxA tax paid as a percentage of the profits of a limited company.
- 10creditorsIndividuals, people or governments that a business owes money to.
- 11debtorsPeople and other businesses that owe a business money.
- 12Income TaxA tax paid on the money that you earn.
- 13What is insolvencyWhen a business can no longer pay its bills.
- 14liabilitiesThe debts of a business.
- 15Examples of short term financeTrade credit, overdraft.
- 16Calculation for net cash flow.Inflows-outflows=net cash flow.
- 17OverdraftAn agreement with the bank that allows you to spend more money than you have put into it.
- 18Give one example of an outflow?Rent, wages, insurance, stock, salaries, manufacturing.
- 19Give one example of a long term source of finance?loans, mortgages, share capital.
- 20Which of these is an example of short term finance...mortgage, overdraft, share capital?Overdraft
- 21What is used to show the money flowing in and out of a business over a year?Cash flow Forecast
- 22What is a cash flow forecast?A document that predicts the inflows and outflows over a given period of time.
- 23What does a profit and loss account show?Net Profit
- 24What is an external source of finance? Give an example.Finance provided by people or institutions outside the business which will require payment. - loans, overdrafts, shares, debentures.
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Informações
- Descrição
- GCSE Business Studies FlashCards sobre Unit 3 Finance, criado por Sasha Bailey em 13-01-2017.
- Criado por
- Sasha Bailey
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