EMS Concepts

4. Somebody who starts their own business.
7. When the owner withdraws money from the business or takes assets and it decreases owners equity.
8. Possessions of the business that can be converted into cash.
9. The owner pays tax on the businesses profit.
10. The debts of the business.
12. When the business borrows money from a financial institution and repays it over a certain period of time.

1. The money flowing into the business.
2. The day to day costs of running a business.
3. The goal all businesses want to make.
5. The buying and selling of goods and services and the receipt and payment of money.
6. The money or assets and skills the owner contributes to their own business.
11. When your expenses are greater than your income.