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finance
key words
Question | Answer |
---|---|
what is cost of sales? | -How much it costs the business to produce the goods they sell, also known as cost of goods. |
what is a advantage of retained profit? | -No interest of other charges |
what is a disadvantage to selling shares? | - You have to share a business |
what is Net profit? | -The profit made by a business after all the trading expenses have been paid |
what is a advantage to a bank loan | -Relatively easy to organise a bank loan, you can pay back a fixed sum each month |
how long can you keep something that's a current asset? | - 12 months |
what is gross profit? | -what is left after the cost of sales has been subtracted from turnover. Overheads, interest and tax are not included |