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1. Assets =
- current assets - current liabilities
- Liabiliaties + equity
- Liabilities - equity
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2. What is the cash flow statement
- The amount of cash generated during a period
- A record of cash movements that have taken place during a period
- The current wealth of the business
3. What is the statement of financial positon (Balance sheet)?
- The amount of money the business owns
- How much wealth was generated in a period
- The current wealth of the business from point to point
- What cash movements took place during the period
4. What is the income statement?
- The assets and liabilities of a company
- How much wealth was generated in a given period
- What cash movements took place during a period
- The amount of money the business owes to other companys
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