Business

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  • Created by: lukeyrowe
  • Created on: 13-12-17 15:41
Gross Profit
Amount of profit left after the cost of producing the good or service is deducted from the sales revenue
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Net Profit
The smaller amount of profit made after all the other expenses are deducted from the gross profit
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Capital Income
The money invested by the owners or other investors
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Revenue Income
The money which comes into the business from performing it's day-to-day function
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Debt
Money owed
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Bankrupt
The inability to repay debts based upon their previous actions
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Solvent
The ability to meet day-to-day expenditure and repay debts
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Credit rating
A score given to individuals on how likely they are to repay debts, the higher the score the less risk
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Individual Savings Account (ISA)
Type of saving account where the holder is not charged income tax on the interest received
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HM Revenue & Customs
British government department responsible for the collection of all types of taxes
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Fixed Asset (Non-current assets)
Items owned by a business that are likely to stay in the business for more than one year, for example machinery
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Current Asset
Items owned by the business that change in value on a regular basis, such as stock
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Other cards in this set

Card 2

Front

The smaller amount of profit made after all the other expenses are deducted from the gross profit

Back

Net Profit

Card 3

Front

The money invested by the owners or other investors

Back

Preview of the back of card 3

Card 4

Front

The money which comes into the business from performing it's day-to-day function

Back

Preview of the back of card 4

Card 5

Front

Money owed

Back

Preview of the back of card 5
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