Money used in the business to cover daily costs.

Current assets can be converted into cash within 12 months.

An example of a current asset is:

Non-current assets are typically kept for more than 12 months.

An example of a non-current asset:

People who owe the business money are:

People who the business owes money to are called:

A business who pays off a delivery vehicle loan over 5 years would classify this as a:

A trading business's main form of income is sales.

Expense items like printer ink and paper could be referred to as consumables.

Select all the correct answers: fixed expenses in a business include..

Select all the correct answers: Income - Expenses = ?

The profit motive is the aim of any business.

Receipts are a record of money leaving the business.

A source document is the evidence that a transaction has taken place.

Select all the correct answers: Personal income can be acquired by:

Interest income would be an example of what type of income?

Sales - Fixed Expenses = ?

Sales - All Expenses = ?

When working with budgets - what does the use of brackets indicate?

Businesses make money by selling goods, services and investing money.

If you had the choice would you work for someone or start your own business?

Do you know what an entrepreneur is?

Can you name a famous entrepreneur?