AHW 2 Flashcards
1
Q
What does a profit and loss report show?
A
Shows how a business has performed over a specific period
2
Q
What does a balance sheet show?
A
Provides a financial position at a point in time
3
Q
What is capital?
A
The funds needed to acquire assets
4
Q
What is a cashflow statement?
A
Summarises expects and actual cash receipts into the business
