commerce

3. the debts owed by a business to others.
7. an individual running a business. It is the simplest and cheapest business structure.
8. another name for a revenue statement?
11. a finance where money is borrowed from external lenders, such as a bank.
12. (f= opening stock + purchases – closing stock)

1. an authorization granted by a government or company to an individual or group enabling them to carry out specified commercial activities, for example acting as an agent for a company's products.
2. a small, specialized market for a particular product or service
4. represents the value of the business to the owner
5. the established reputation of a business regarded as a quantifiable asset and calculated as part of its value when it is sold.
6. (F= gross profit – expenses)
9. finance where investing your own money, or funds from other stakeholders, in exchange for partial ownership.
10. go from one place to another, typically over a distance of some length.