Unit 22 Balance sheets | Baamboozle - Baamboozle

English 10 Public

Unit 22 Balance sheets

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Current assets

short term resources owned by a business

15

Non-current assets

long term resources owned by a business

15

Trade receivables

money owed to the business by customers who bought products on credit

15

Trade payables

money owed by the business to its suppliers for products bought on credit

15

Non-current liabilities

long term debts (bank loan, debenture, mortgage...)

15

Current liabilities

short term debts (trade payables, bank overdraft...)

15

Owner’s equity

money owed by the business to its owners (including capital and retained profits)

15

Shareholder’s equity

money owed by the business to its shareholders

15

Balance sheet / statement of financial position

record of all assets and liabilities at a particular date

15

What is another name for "net current assets"

Working capital

15