Explain the following terms
Revenue
Trade payment
Fictional capital
Working capital
Drawing
Goods
Cost
Capital
Business transaction
Investory or stock
Answers
Revenue: Income, especially when of an organization and of a substantial nature.
Trade payment:A trade payment was a previous form of transferring funds electrically.The trade payment system was used by corporate and governmental entities to pay creditors using the automated clearing House system.This type of payment became obsolete due to it's lack of flexibility.
Working capital: The capital of a business which is used in it's day-to-day trading operations , calculate as the current assest minus the current libalities.
Drawing: A picture or diagram made with pen, pencil or crayon rather than paint.
Goods: Goods are tangible things that are produced, brought or sold ,then finally consumed
Coast: A amount that has to be paid or give up in order to get something.
Capital: It is accumulated assets of business that can be used to generate income for the business.
Business transaction: Business transaction is an economic event with a third party that is recorded in an organization accounting system.such as transaction must be measurable in money.
Investory: It often called merchandise,refers to goods and materials that a business hold for sale to customer in the near future.
Stock: The Goods or merchandise keep on the premises of a shop or warehouse and available for sale or distribution.