Key definitions

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A statement of account shows...
What a customer has ordered from a single supplier and paid over a period of time. These are sent out regularly by suppliers.
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A start - up cost is...
Something paid for when a business first sets up or starts making a new product. Usually only expected to be paid once. Usually quite high costs.
2 of 5
A running cost is...
Something paid for on a regular basis. Remember "R" for running and "R" for regular. These are usually paid weekly or monthly and are needed to keep the business operating.
3 of 5
To work out VAT on a purchase order or invoice i would...
Total divided by 100 X 20
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To work out 5% discount on a purchase or invoice i would...
Total divided by 100 X 5
5 of 5

Other cards in this set

Card 2

Front

A start - up cost is...

Back

Something paid for when a business first sets up or starts making a new product. Usually only expected to be paid once. Usually quite high costs.

Card 3

Front

A running cost is...

Back

Preview of the front of card 3

Card 4

Front

To work out VAT on a purchase order or invoice i would...

Back

Preview of the front of card 4

Card 5

Front

To work out 5% discount on a purchase or invoice i would...

Back

Preview of the front of card 5

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