Balance Flashcards
0
Q
Liabilities
A
Something of value the business owes
1
Q
Assets
A
Something of value the business owns
2
Q
Capital
A
Total amount of value invested in a business
3
Q
Fixed assets
A
Long term assets that will remain in the business for a while
4
Q
Current assets
A
Short term assets that will come and go
5
Q
Current liabilities
A
Money that must be paid back within a year
6
Q
Working Capitol
A
Current assets - current liabilities
