| A | B |
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| Balance sheet | Financial statement that shows what a business owns (assets), what it owes (liabilities), and how much it is worth (net worth) at a particular point in time |
| Sales quota | A goal assigned to a sales person for a specified period |
| Income statement | Financial statement that shows the income, expenses, and profit or loss for the business over a period of time |
| Repayment plan | A schedule showing how and when the debt of a business is to be repaid |
| Current ratio | The comparison of current assets with current liabilities |
| Sales ratio | An expression of any component of the income statement as a percentage of total sales |
| Assets | Items of value owned by the business |
| Liabilities | The debts owed by the business |
| Net worth | The monetary value of the business; assets minus liabilities |
| Current liabilities | Financial obligations that will be repaid within one year |
| Current assets | Cash or items of monetary value that can easily be converted to cash and that are used up by a business within one year |
| Fixed assets | Items of monetary value that are not easily converted into cash |
| Long-term liabilities | Financial obligations that will take the business more than one year to repay |
| Intangible assets | Items of value that the business owns that cannot be seen or touched |
| Copyright | Legal right to exclusive publication, production, sale, or distribution of a literary or artistic work |
| Inventory | The quantities of goods and materials on hand |
| Accounts payable | Expenses that have been incurred but not yet paid |
| Accounts receivable | Sales that have been made but not yet collected |
| Patent | A legal document that gives an inventor the sole right to produce, use, and sell an invention |
| Trademark | A name, symbol, or special mark that, when registered, can be used only by a certain business |
| Cost of goods sold | The price the retailer pays for the merchandise sold |
| Break-even point | The point at which the money from product sales equals the costs of making and distributing the product |
| Gross profit on sales | Net sales minus the cost of goods sold |
| Gross sales | The dollar amount of all sales, usually within a one-year period |
| Net income | The amount of money left after all costs and expenses have been deducted |
| Net sales | Gross sales minus returned goods |
| Market share | The percentage of an industry or market's total sales that is earned by a particular company |
| Product positioning | Placing a product in a certain market to get a desired customer response |
| Sales forecast | An estimate of sales for a specified period |
| Cash flow statement | Financial statement that shows the flow of money in and out of the business |
| Balance sheet | Financial statement that shows what a business owns (assets), what it owes (liabilities), and how much it is worth (net worth) at a particular point in time |
| Cash flow statement | Financial statement that shows the flow of money in and out of the business |
| Income statement | Financial statement that shows the income, expenses, and profit or loss for the business over a period of time |
| Repayment plan | A schedule showing how and when the debt of a business is to be repaid |
| Current ratio | The comparison of current assets with current liabilities |
| Sales ratio | An expression of any component of the income statement as a percentage of total sales |
| Assets | Items of value owned by the business |
| Liabilities | The debts owed by the business |
| Net worth | The monetary value of the business (assets minus liabilities) |
| Current liabilities | Financial obligations that will be repaid within one year |
| Current assets | Cash or items of monetary value that can easily be converted to cash and that are used up by a business within one year |
| Fixed assets | Items of monetary value that are not easily converted into cash |
| Long-term liabilities | Financial obligations that will take the business more than one year to repay |
| Intangible assets | Items of value that the business owns that cannot be seen or touched |
| Copyright | Legal right to exclusive publication, production, sale, or distribution of a literary or artistic work |
| Inventory | The quantities of goods and materials on hand |
| Accounts payable | Expenses that have been incurred but not yet paid |
| Accounts receivable | Sales that have been made but not yet collected |
| Patent | A legal document that gives an inventor the sole right to produce, use, and sell an invention |
| Trademark | A name, symbol, or special mark that, when registered, can be used only by a certain business |
| Cost of goods sold | The price the retailer pays for the merchandise sold |
| Break-even point | The point at which the money from product sales equals the costs of making and distributing the product |
| Gross profit | Net sales minus the cost of goods sold |
| Gross sales | The dollar amount of all sales, usually within a one-year period |
| Net income | The amount of money left after all costs and expenses have been deducted |
| Net sales | Gross sales minus returned goods |
| Market share | The percentage of an industry or market's total sales that is earned by a particular company |
| Product positioning | Placing a product in a certain market to get a desired customer response |
| Sales forecast | An estimate of sales for a specified period |
| Sales quota | A goal assigned to a sales person for a specified period |
