Balance sheets Flashcards
1
Q
non-current assets
A
assets the business owns long term e.g. buildings
2
Q
current assets
A
assets the business owns short term (sold on within a year) e.g. stock
3
Q
total current assets
A
non current assets + current assets
4
Q
current liabilities
A
debts the business owes short term e.g. overdraft
5
Q
non-current liabilities
A
debts the business owes long term e.g. mortgage
6
Q
net current assets
A
current assets - current liabilities
7
Q
net assets
A
total non-current assets + net current assets
8
Q
capital employed
A
total assets - current liabilities
9
Q
roce
A
net profit / capital employed x 100
10
Q
current ratio
A
current assets / current liabilities
11
Q
acid test ratio
A
(current assets - stock) / current liabilities
12
Q
mark-up
A
gross profit / cost of goods x 100
