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Fianance

Items on a balance sheet

QuestionAnswer
Drawings Money or assets taken out of a business for the owners personal use.
Current Assets Short term assets that can quickly be turned into cash.
Current Liabilities Debts that a business must pay in the short term.
Mortgage Long term loan based on using property as security.
Fixed Assets Assets with a life of more than one year.
Debtors People or business that owe money to an organisation.
Balance Sheet Statement showing the financial position of an organisation.
Assets Items on a balance sheet that an organisation owns or is owed.
Created by: mchughs1
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