Unit 1.3

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What is Finance?
Money raised by the business so that they can trade.
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What is Profit?
What is left over after costs have been deducted.
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What is Loss?
When costs are higher than sales revenue.
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What are Costs?
the expenses a business pays for in producing goods and services.
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What is Revenue/Turnover?
Total sales a business recieves from selling goods or services.
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What is Cash?
Money that the business has availability to straight away, such as money money in its bank.
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What is a Forecast?
A technique where the business attempts to estimate future sales, cash flow or other financial variables.
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What is a Cash Flow Forecast?
A prediction of a businesses future cash inflows and out-flows, showing the closing balance
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What is Net Cash Flow?
The difference between receipts and payments. Net Cash Flow = receipts - payments
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Other cards in this set

Card 2

Front

What is Profit?

Back

What is left over after costs have been deducted.

Card 3

Front

What is Loss?

Back

Preview of the front of card 3

Card 4

Front

What are Costs?

Back

Preview of the front of card 4

Card 5

Front

What is Revenue/Turnover?

Back

Preview of the front of card 5
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