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business b-tech > C > Flashcards

C Flashcards

1
Q

What are the two types of income?

A

Capital Income
Revenue Income

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2
Q

What are the 5 parts of capital income?

A

Loan, mortgage, Debentures, Shares, Owner’s Capital

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3
Q

What are cash sales?

A

over counter transactions

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4
Q

What are credit sales?

A

sales using method of credit

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5
Q

What is Rent recieved?

A

business rents out its property

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6
Q

What is Commission received?

A

business acts as an agent and recieves percentage of sales

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7
Q

What is interest recieved?

A

money earned from saving or lending

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8
Q

What is Discount recieved?

A

business pays reduced price for goods and services

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9
Q

What is a loan?

A

money lent from a bank or person, charges interest

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10
Q

What is a debenture?

A

type of bond or other form of debt not secured by collaterol.

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11
Q

What is an owners capital?

A

owner invests own savings, may be sole trade or partnership

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12
Q

What are shares?

A

issued by companies to shareholders, investors may recieve dividends.

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13
Q

What is a mortgage?

A

Loan usually for property, property is secured and it will be paid back over 25 years

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14
Q

What is Capital expenditure?

A

assets that a business plans to use over a long period of time

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15
Q

What are intangible assets?

A

not physical items (difficult to sell)
like goodwil - additional value to a business
patents and trademarks too

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16
Q

What is depreciation?

A

asses like machinary + office furniture lose value when used,

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17
Q

what is straight line depreciation?

A

value of an asset loses value by the same amount each year over its life

18
Q

What is reducing balance depreciation?

A

a method to help you calculate the rate of depreciation of an asset

19
Q

What are non-current assets?

A

Land, Buildings and premises, machinery and equipment, vehicles, fixtures and fittings

20
Q

What are intangible assets?

A

Goodwill, Patents, Trademarks and Brand Names

21
Q

What are the 3 types of internal source?

A

Retained Profit
Net Current Assets
Sale of Assets

22
Q

What is retained profit?

A

profits that are kept in the business and not distrubted to owners or shareholders.

23
Q

What is sale of assets?

A

anything that a business owns and sells to get cash (money)

24
Q

What is net of current assets?

A

money that is immediatley available to a business

25
Q

Positive and negative of retained profit?

A

+ does not have to be repaid and no interest
- not available to new businesses, may not make sufficient profits

26
Q

Positive and negative of Net Current Assets?

A

+ quick way to raise money, sell of inventory to reduce costs
- may ahve to accept to lower price for its inventory

27
Q

What is owners capital?

A

amount the owner has invested into the business

28
Q

What is loans?

A

money borrowed by a person from a company paid back at an interest.

29
Q

What is crowd-funding

A

practice of funding a project or venture by raising money from a large number of people who each contribute a relatively small amount.

30
Q

What is mortgages

A

an agreement on an amount of money given by a bank to buy a house paid bank in amounts for a chosen amount of time (typically 25 years)

31
Q

What is venture capital

A

capital invested in a project that has significant risk

32
Q

What is mortgages?

A

an agreement on an amount of money given by a bank to buy a house paid bank in amounts for the next 25 years

33
Q

What is debt factoring?

A

when a business sells its accounts receivables to a third party at a discount, enabling companies to immediately unlock cash tied up in unpaid invoices (like an asset like a building they also take mortgage)

34
Q

What is hire purhcase?

A

paying for an item in regular installments while being able to use it

35
Q

What is leasing?

A

paying an owner for using their asset

36
Q

What is trade credit?

A

an agreement where the buyer doesn’t pay for goods upfront but at a later date

37
Q

What is grants?

A

money given to a public body

38
Q

What is donations?

A

money given by people typically for a charity or cause

39
Q

What is peer to peer lending?

A

They bring together people or businesses that want to lend money with those that want a loan.

40
Q

What is invoice discounting?

A

a financial service in which a provider lends cash to a company up to the value of its unpaid invoices.

business b-tech (7 decks)

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