Unit 1

Fill in all the gaps, then press "Check" to check your answers. Use the "Hint" button to get a free letter if an answer is giving you trouble. You can also click on the "[?]" button to get a clue. Note that you will lose points if you ask for hints or clues!
A Sheet is a list of all the and in a business.

Assets can be described as those in the short term - Assets - and those which are longer lasting - Assets.

Cash, Bank and Debtors are examples of Assets. Equipment, Vehicles and Premises are examples of Assets.

Liabilities can be Current including and Bank . These must be paid in the short term. Term Liabilities can be paid for over a longer period of time - maybe months or years. Examples of Long Term Liabilities could be a or .

The of the business is made up of Assets - Liabilities. The Capital is the of the business.