Running a Business Terminology

3. The amount of money your make from selling your goods/services
5. assets Things that you own for long term (more than 12 months)
8. and equipment - Factory and machinery
9. - A loan secured by property
11. How quickly an asset can be sold for cash
12. receivable Money that is owed to you from creditors
13. An intangible asset such as reputation or brand name
15. assets Assets of a business that can not be physically touched
18. assets Amounts that people need to pay you within 12 months
19. People that owe you money
23. equity The amount of money that an owner invests in their business
24. When the value of something goes down
26. The goods that you have on the shelf or in the warehouse which is ready to sell

1. liabilities Amounts that you owe/have to pay others within 12 months
2. The same thing as stock; goods ready to sell
4. expenses Increased costs associated with increased inputs
6. Something (typically money) that a company owes
7. The money which is put into the business by the owner
10. An item with economic value that a business owns with an expectation that it will provide a benefit
12. payable Money that you owe the debtors.
14. expenses Expenses that don't change
16. The revenue minus the expenses
17. of goods sold The cost of the inputs that are required to make the goods that the business sells
20. loans A loan which is supported by property that the bank can sell if you don't repay
21. loans A loan which is not secured by anything
22. People that you owe money to
25. Occurs when the expenses which are greater than the revue