AFC Vocabulary

Front

Who usually chairs a general meeting?

Back

The chairperson

Front

What can trigger an Extraordinary General Meeting (EGM)?

Back

Amending the Articles of Association

Front

What does a balance sheet show?

Back

Company’s financial position at a point in time

Front

What is working capital?

Back

Current assets minus current liabilities

Front

What do assets include?

Back

Equipment, real estate, and cash

Front

What is the role of a statutory auditor?

Back

To review and verify the accuracy of a company's financial statements.

Front

What is the purpose of a general meeting?

Back

To discuss and make decisions on important company matters.

Front

What are current liabilities?

Back

Obligations a company needs to pay within one year.

Front

What is the difference between fixed assets and current assets?

Back

Fixed assets are long-term investments, while current assets are short-term.

Front

What is the Articles of Association?

Back

A document that outlines the regulations for a company's operations.