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50 Cards in this Set
- Front
- Back
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Accounts payable
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Expenses that have been incurred but not yet paid
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Accounts receivable
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Items of value owned by the business
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Balance sheet:
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A financial statement that shows what a business owns, what it owes, and how much it is worth at a particular point in time.
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Break-even point:
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The point at which the money from product sales equals the costs of making and distributing the product.
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Cash flow statement:
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A financial statement that shows the flow of money in and out of the business.
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Copyright:
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Legal right to exclusive publication, production, sale, or distribution of a literary or artistic work.
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Cost of goods sold
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The dollar amount a company pays to purchase a product for resale.
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Current assets
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Financial obligations that will be repaid within one year.
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Current ratio:
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The comparison of current assets with current liabilities.
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Economic outlook:
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Trends associated with the economy that can impact your business's sales.
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Accounts payable
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Expenses that have been incurred but not yet paid
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Accounts receivable
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Items of value owned by the business
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Balance sheet:
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A financial statement that shows what a business owns, what it owes, and how much it is worth at a particular point in time.
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Break-even point:
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The point at which the money from product sales equals the costs of making and distributing the product.
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Cash flow statement:
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A financial statement that shows the flow of money in and out of the business.
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Copyright:
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Legal right to exclusive publication, production, sale, or distribution of a literary or artistic work.
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Cost of goods sold
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The dollar amount a company pays to purchase a product for resale.
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Current assets
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Financial obligations that will be repaid within one year.
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Current ratio:
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The comparison of current assets with current liabilities.
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Economic outlook:
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Trends associated with the economy that can impact your business's sales.
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Expenses:
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All costs associated with running a business except for the cost of goods sold.
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Fixed assets
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Items of monetary value that are not easily converted into cash.
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Fixed expenses
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Business expenses that do not change month-to-month, but rather remain the same for a period of time.
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Goodwill
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Customers' approval and support of a business
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Gross profit on sales:
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Net sales minus the cost of goods sold.
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Gross sales
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The dollar amount of all sales, usually within a one-year period.
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income statment
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A financial statement that shows the income, expenses, and profit/loss for the business over a period of time, usually a year.
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Income taxes payable
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: Monies due to the government.
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Expenses:
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All costs associated with running a business except for the cost of goods sold.
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Fixed assets
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Items of monetary value that are not easily converted into cash.
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Intangible assets:
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Items of value that the business owns that cannot be seen or touched.
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Fixed expenses
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Business expenses that do not change month-to-month, but rather remain the same for a period of time.
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Goodwill
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Customers' approval and support of a business
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Inventory:
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The quantities of goods and materials on hand
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Gross profit on sales:
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Net sales minus the cost of goods sold.
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Gross sales
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The dollar amount of all sales, usually within a one-year period.
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income statment
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A financial statement that shows the income, expenses, and profit/loss for the business over a period of time, usually a year.
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Income taxes payable
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: Monies due to the government.
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Intangible assets:
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Items of value that the business owns that cannot be seen or touched.
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Expenses:
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All costs associated with running a business except for the cost of goods sold.
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Inventory:
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The quantities of goods and materials on hand
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Fixed assets
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Items of monetary value that are not easily converted into cash.
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Fixed expenses
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Business expenses that do not change month-to-month, but rather remain the same for a period of time.
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Goodwill
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Customers' approval and support of a business
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Gross profit on sales:
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Net sales minus the cost of goods sold.
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Gross sales
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The dollar amount of all sales, usually within a one-year period.
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income statment
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A financial statement that shows the income, expenses, and profit/loss for the business over a period of time, usually a year.
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Income taxes payable
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: Monies due to the government.
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Intangible assets:
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Items of value that the business owns that cannot be seen or touched.
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Inventory:
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The quantities of goods and materials on hand
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