BUSINESS FINANCE

1. a method of bookkeeping in which each financial transaction is recorded in at least two accounts, resulting in a balanced set of accounting records.
6. the costs incurred to generate revenue
7. the net amount of cash and cash-equivalents being transferred into and out of a business.
8. individuals or other businesses that purchase goods or services from a business.
10. financial awards given by the government to individuals or organisations for specific projects or purposes. These grants do not need to be repaid
13. the inability to convert an asset into cash quickly without a significant loss in value.
17. a financial statement that summarises a company's assets, liabilities, and shareholders' equity at a specific point in time.
18. loans and other financial services.

2. Assets = Liabilities + Shareholders' Equity.
3. the process of recording financial transactions and maintaining financial records for a business.
4. the difference between revenue and the cost of goods sold
5. occurs when a business does not have enough cash to meet its obligations, such as paying suppliers or employees.
7. an estimate of the amount of money that is expected to flow in and out of the business.
8. a method of raising capital through the collective effort of individuals who pool their money to support efforts initiated by other people or organisations.
9. a financial journal used to record all the company's cash transactions.
11. affluent individuals who provide capital for a business start-up, usually in exchange for ownership equity or convertible debt
12. refers to ownership or an interest in assets, often used in the context of business ownership.
14. financial institutions that accept deposits from individuals and businesses and
15. payment cards issued to users that enable them to make purchases on credit, typically with an agreed-upon interest rate and a set credit limit
16. refers to the legal status of a person or entity that cannot repay debts owed to creditors.