Business: Terms and definitions Flashcards
Memorise key terms (6 cards)
1
Q
What is Revenue?
A
Revenue is the income by a business from selling goods & services
2
Q
What is Profit?
A
Profit is the difference between total revenue and total costs
3
Q
What is Costs?
A
Costs is the spending that occurs to set up and run a business
4
Q
What is Interest?
A
Interest is the cost of borrowing and reward for saving
5
Q
What is Cash flows?
A
Cash flows is the process of cash flowing in and out of a business
6
Q
What is Net cash flow?
A
Net cash flow is the difference between cash inflows and outflows
