Business Studies prep cards

Why do we need profit and loss accounts ?
Profit and Loss Account is a period statement which is prepared to show the profit or loss incurred by the Organization in the year for which it is prepared. It is prepared to disclose the result of operations of all the business transactions during
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What is a electronic point of sale?
Quick Answer Electronic point of sale refers to the process of selling retail goods through a computer terminal that tracks data more thoroughly than a standard cash register.
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How do barcodes benefit a business?
They benefit a business by them being able to show you if you have any left in stock.
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What types of costs are there?
Fixed costs and variable costs.
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What is the difference between assests and liabilities?
Liabilities are just the opposite of assets and this is reflected in the manner they are shown in a financial statement. An asset is something that generates income for the owner on a regular basis.
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Why do businesses need a financial document?
To see if they are making profit.
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Card 2

Front

What is a electronic point of sale?

Back

Quick Answer Electronic point of sale refers to the process of selling retail goods through a computer terminal that tracks data more thoroughly than a standard cash register.

Card 3

Front

How do barcodes benefit a business?

Back

Preview of the front of card 3

Card 4

Front

What types of costs are there?

Back

Preview of the front of card 4

Card 5

Front

What is the difference between assests and liabilities?

Back

Preview of the front of card 5
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