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iGCSE Edexcel Business > Unit 3 - Business Finance > Flashcards

Unit 3 - Business Finance Flashcards

Money things

1
Q

Why do businesses need finance?

A

ANY OF THE FOLLOWING:
Starting a new business
Paying workers
Covering a fall in demand
Paying bills
Buying stocks
Buying premises
Buying equipment
Business expansion

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2
Q

Internal finance

A

Money obtained from within the business.

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3
Q

External finance

A

Money obtained from outside the business.

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4
Q

Internal sources of finance

A

Personal Savings
Retained profits
Selling assets

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5
Q

External sources of finance (short-term funds)

A

Credit card
Bank loan
Overdraft

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6
Q

External sources of finance (long-term funds)

A

Mortgage
Share capital
Business angel/venture capital
Government grants
Crowdfunding

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7
Q

Interest

A

The cost of borrowing and the reward of saving.

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8
Q

What are the two types of interest?

A

Fixed and variable interest.

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9
Q

Personal savings

A
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10
Q

Retained profits

A
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11
Q

Selling assets

A
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12
Q

Credit card

A
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13
Q

Bank loan

A
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14
Q

Overdraft

A
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15
Q

Mortgage

A
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16
Q

Share capital

A
17
Q

Business angel/venture capital

A
18
Q

Government grants

A
19
Q

Crowdfunding

A

iGCSE Edexcel Business (6 decks)

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