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| declared in law as unable to pay their debts |
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| what remains from revenue after al expenses have been paid |
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| an unincoporated business with one owner |
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| when the owner of the business takes money out for their own use |
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| the income earned from owning shares in a company. |
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| the revenue remaining after paying the costs of goods sold; that is the expenses of purchasing the goods wholesale and transporting them to the business ready for sale |
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| The final amount of revenue remaining after all expenses have been paid |
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| A bill sent to a customer requiring payment by a specified date. |
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| indicates how much ready cash is available in a business. current assests are listed in order of liquidity, which is how easily they can be turned into cash |
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| the businesses or individuals that owe money to a business |
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| amounts of money owed to individuals ex suppliers |
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| assets (such as cash in the bank and accounts receivable) that earn revenue for a business in the short term. Usually fewer than 12 months. |
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| Money that is owed to an external business or person that will be repaid in the short term |
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| the money a business owes to its suppliers and service providers |
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| the businesses, financial institutions and individuals to which a business owes money. also known as accounts payable |
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| a current asset that represents money owed to the business in the short term. This money is owed to the business by customers who are yet to pay for goods or services they have already recived |
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| the ability of the business to pay both short term and long term liabilities as they fall due |
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| How much debnt finance the business has accuired to fund its operations compared to its use of equity finance |
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