Commerce Year 9

Opportunity cost

the loss of other alternatives when one alternative is chosen.

Spreadsheet row

Is arrange of cells horizontal across the worksheet

Unlimited liability

Is not capped at a maximum and exists regardless of the amount of investment

Goods

Items that you can see or touch

Spreadsheet column

Labeled by letters, rows or numbers

Services

Things done for you by others

Loan

To lend (a sum of money or item of property)

Limited liability

When a business can't pay depts, share holders have to invest

Bankruptcy

When you can no longer pay your depts and your then declared bankrupt.

Sole trader

A business owned and operated by one person

Partnership

A business owner operated by 2-20 people

Proprietary company

A company that had restrictions on what it can and. Can't do

Public company

A company which ownership is dispersed among the general public

Shares

A part of ownership of a public company

Capital Gain

A profit from the sale of property or an investment

Deposit

A sum of money paid into a bank or building society account

Debt

A sum of money that is owned or due

Assets

A useful or valuable thing or person

Surplus

An amount of something leftover

Spreadsheet

An electronic document in which data is arranged

Budget

An estimate of income and expenditure for a set period of time

Variable expense

Costs that vary depending on a company's production

Spreadsheet Cell

Data, is usually text, a numeric value or formulae

Fixed expense

Do not change as a function of the activity of a business

Entrepreneur

Someone who starts, operates and assumes the risk of a business venture in the hope of making profit (idea,risk,operate,profit)

Income tax

Tax levied on a personal income

Deficit

The amount by which something, especially a sum of money is too small

E comerce

The buying and selling of into goods,services,via Internet

Expense

The cost incurred in or required for something