Definitions Flashcards
1
Q
Expenses
A
It is an outflow of cash or other valuable assets from a person or company to another person or company.
2
Q
Cash surplus
A
An excess of cash receipts over cash payments.
3
Q
Cash deficit
A
An excess of cash payments over cash receipts.
4
Q
Bank overdraft
A
An external source of finance provided by a bank that allows the account holder to withdraw more than their current account balance.
5
Q
Equities
A
Claims on assets of the firm, consisting of both liabilities and owners equity.
