Money that is spent to purchase goods or services to be used by a company
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Can you describe what is a balance sheet?
A detailed summary of a company’s financial condition at a specific point in time, taking into account their assets, liabilities and equity
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What is one asset?
Something that is legally owned by a person or company
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What is the liability?
The state of being legally responsible for something
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What is the interest?
The extra money that you pay back when you borrow money or that you receive when you invest money
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What is a debt?
A sum of money that somebody owes
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What is the revenue?
the money that a government receives from taxes or that an organization, etc. receives from its business
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What is the Net Income (NI)?
The Net income (NI) is calculated as revenues minus expenses, interest, and taxes.
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What is the Net Worth?
Net worth is the value of the assets a person or corporation owns, minus the liabilities they owe. It is an important metric to gauge a company's health.
