Business Chapter 17 Flashcards
1
Q
Administrative expenses
A
Costs relating to running a business
2
Q
Debtors
A
People or businesses that owe money
3
Q
Finance cost
A
Interest paid by a business on any money borrowed
4
Q
Finance income
A
Interest received by a business on any money held in deposit
5
Q
Patent
A
A government authority or licence for a right or title for ou set period of time. This involves the sole right to exclude others from making, using or selling a product, service or idea
6
Q
Solvency (solvent)
A
the ability of a business to meet its debts
