Definitions Flashcards
1
Q
Start-up costs
A
The amount of money spent setting up a business before it starts trading e.g a print shop needs a computer and copier to start a business.
2
Q
Operating costs (Running costs)
A
Money spent on a regular basis to keep a business running e.g a print shop has to buy paper and pay for electricity.
3
Q
Income
A
Money which is paid into a business.
4
Q
Total costs
A
The total amount of money spent running a business over a certain period of time (e.g a month).
5
Q
Expenditure
A
Money that a business spends.
6
Q
Overheads
A
The everyday running costs of the business.
7
Q
Profit
A
The revenue is more than expenditure.
8
Q
Loss
A
The expenditure is more than the revenue.
