1.
This is when the seller agrees to pay for goods to be delivered to the customer.
2.
Cash discount allowed by a firm to its customers when they pay their debts/ accounts quickly.
3.
Money taken out of the business by the owner for his/her own personal use.
4.
All costs incurred in a given year to provide power for the business.
5.
A payment by the business to light and heat a property.
6.
The items stocked by a business for sale to customers.
7.
A piece of land, factory, office space or shop owned by a business.
8.
This is the term used to describe items purchased which will then be re-sold.
9.
An income of the business for leasing part of a property.
10.
This is the name given to the value of the goods sold during the trading period.
11.
Sometimes customers will return goods that we have sold them.
12.
Individuals or businesses who we owe money to. They are current liabilities in the statement of financial position.
13.
Individuals or businesses who owe our business money.
14.
The payment to staff for work they have carried out
