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7 Cards in this Set
- Front
- Back
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what are assessts? |
items the business owns or money owed to the business |
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what are liabilites? |
debts owed by the business |
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what are fixed assests? |
-needed by business to be able to trade e.g a van or computer |
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what are current assests? |
-assests which are cash or which can easily be converted to cash e.g stock sold to customers and cash recieved from customers |
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what are current liabilites? |
-debts that must be paid soon |
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what are long term liabiltis? |
funds borrowed over a long period of time e.g . creditors |
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what is working capital? |
is the money the business needs every day to trade |
