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29 Cards in this Set
- Front
- Back
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describes how much cash comes in and goes out of a business over a period of time
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cash flow
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amount of cash coming into your business
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revenue
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amount of cash going out of your business
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expense
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expenses that are incurred by a business every month
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operating expenses
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a financial statement that indicates how much money a business earns or loses during a particular period of time.
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income statement
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shows the assets, liabilities, and capital of a business at a particular point in time.
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balance sheet
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items of value owned by a business
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assets
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items that a business owes to others
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liabilities
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the amount remaining after the value of all liabilities is subtracted from the value of all assets
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owners equity
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assets that will be used for many years
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fixed assets
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describes how much cash comes in and goes out of a business over a period of time
|
cash flow
|
|
|
amount of cash coming into your business
|
revenue
|
|
|
amount of cash going out of your business
|
expense
|
|
|
expenses that are incurred by a business every month
|
operating expenses
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|
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a financial statement that indicates how much money a business earns or loses during a particular period of time.
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income statement
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shows the assets, liabilities, and capital of a business at a particular point in time.
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balance sheet
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items of value owned by a business
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assets
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items that a business owes to others
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liabilities
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the amount remaining after the value of all liabilities is subtracted from the value of all assets
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owners equity
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assets that will be used for many years
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fixed assets
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are cash, assets that can be converted into cash, and items that are used up in normal business operations.
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current assets
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items/assets that are on hand that can be converted into cash.
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inventory
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the amount a company estimates it will not receive from customers
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allowance for uncollectible accounts
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the lowering of an asset's value to reflect its current worth
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depreciation
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money loaned to a business with the understanding that the money will be repaid, with interest, in a certain period of time
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dept capital
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loans backed by collecteral
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secured loans
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is property that the borrower for feits if he or she defaults on the loan
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collateral
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loans that are not guaranteed with property
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unsecured loans
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agreement by a bank to lend up to a certain amount of money when the borrower needs it
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line of credit
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