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