Flashcard - Business Terms - Week 2

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Equity

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The value of shares issued by a company.

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Revenue

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Income generated from normal business operations.

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Tax-Deductible

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Expenses that can be subtracted from gross income to reduce taxable income.

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Economy

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The system of production, consumption, and distribution of goods and services in a particular geographic region.

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Stock

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A type of security that signifies ownership in a corporation and represents a claim on part of the corporation's assets and earnings.

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Customer

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A person or organization that buys goods or services from a store or business.

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Contract

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A written or spoken agreement that is intended to be enforceable by law.

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Double Taxation

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The taxation of the same income or financial transaction at two different levels, such as corporate and personal.

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Budget

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An estimate of income and expenditure for a set period of time.

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Debt

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Money that is owed or due to be paid.