Workbook
- Accounts Payable – also known as Creditors
- Accounts Payable – amounts our business owes someone else
- Accounts Receivable – also known as Debtors
- Accounts Receivable – amounts someone owes our business
- Assets – resources controlled by our business as a result of past events
- Bad Debt – an amount owed to us which is uncollectable and is written off
- Non-Current Assets – also known as Fixed Assets
- Non-Current Assets – are assets of permanent nature required for the normal conduct of a business and which aren’t intended for resale as part of the business operations
- GST – Goods and Services Tax of 15%
- Inventory – raw materials, work in progress and goods held for resale by the business
- Inventory – also known as Stock
- Liabilities – a loan or any other amount of money owed to someone else
- Mark up – the amount added to the cost of the goods to make a profit for the business
- Net Profit – also known as net income or net surplus
- Net Profit – the difference between the income and expenses of a business
- Partnership – business entity owned by more than 1 person
- Shareholder – someone who owns shares in a company
- Sole Trader – business owned by 1 person
Moodle Activity
itc501rachaelbuchanan 