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Glossary of terms used on this site

There are 73 entries in this glossary.
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Term Definition

Business Capacity - Is the resources available to a business to underpin its activities including actual or potential ability to perform yield or withstand.


The flow of funds generated by the business as a result of receipts from debtors, payments to creditors, drawings and cash sales.

Closing down the business

Closing the doors, selling off the assets and paying off all debts.

Current assets

Include cash, short-term deposits, customers accounts, stock (includes work in progress, raw materials and finished goods), that will be converted into cash during the normal course of business within a year.

Current liabilities

Include short term debts such as bank overdraft, creditors and provisions set aside to pay taxation and other commitments, and expected to come due within one year of the Balance Sheet.

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Sean says

We are in business with my parents and brother. Some land had been transferred to my brother and I and we asked Jim to prepare a immediate exit strategy in case one of us had or wanted to withdraw. We sought bank finance to improve the land. Jim was able to do that plus discover a error in how the land was transferred that the bank had missed. Since then my brother has left the state and he is being paid out exactly as we set up; no argument.