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6. Balance Sheet?

  • The statement of the total assets and liabilities of an organisation at a particular date.
  • The money displayed on a piece of paper from the previous week.

7. What is Capital?

  • Who owns the business
  • Wealth in money, or property, owned or employed in a business or by an individual.
  • Where your business is placed.

8. Something the business owes is what?

  • Liabilites
  • Assts

9. Margin of Safety is what?

  • The difference between the 'break-even point' and the 'current level of output'
  • How safe you can be with your business

10. What are operating costs?

  • Costs which operate your yearly income.
  • The day to day costs of running the business on a regular basis.
  • Costs that you pay yearly

11. What is market segmentation?

  • Who you target your products at, with similar interests
  • Dividing your products into sections

12. What is a purchase?

  • The things you have brought during the year.
  • Products you have brought in a day

13. what is sales?

  • Income
  • The things you buy

14. Give a definition of Closing stock?

  • The stock you have left at the end of the year.
  • The stock you have brought during the year.

15. Profit?

  • When the revenue is more than the expenditure
  • Expenditure more than the revenue

16. What is 'the money that the business pays out'?

  • Fixed Costs
  • Expenditure
  • Operating Costs

17. Assets?

  • Something owned by right.
  • Something you owe

18. Fixed Costs?

  • Costs your business pays each month, which stay the same.
  • Costs that change each month
  • costs that don't move, and you pay yearly

19. Fixed and Variable COsts?

  • The money going OUT of the business
  • Money coming into a business

20. Revenue?

  • MOney coming IN the business
  • Money goin gout of a buiness