Commerce Flash Cards

Frage	Antworten
Income	Earnings made by an individual, not a profit until after tax
Wages	A fixed regular payment earned for work/services, paid by your employer on a weekly/daily basis
Salary	A fixed payment, made by an employer/organisation to an employee, typically paid on a monthly basis but expressed as an annual sum. Salaries are common with white collar jobs
White Collar Jobs	Jobs which do not require physical work
Fee	A source of income paid for by the client, usually per service (piecework)
Piecework	Income according to the amount produced
Commision	Percentage of the sale- paid by the buyer of the purchase. E.g. A real-estate agent gets a 3% commission on a house he sells
Dividend	A sum of money paid regularly to the company’s shareholders, out of the company’s profit or reserves
Interest	Money paid regularly at a particular rate for the use of the money lent
Royalites	Money earned from intellectual property. E.g. pop singers income is mostly derived from album sales
Fixed Expenses	Expenses that will stay the same, regardless of anything (within reason). E.g. Mortgage
Variable Expenses	Expenses that can change depending on a variety of factors. E.g. Petrol
ASX	Australian Securities Exchange
Investing	Putting money into; financial schemes, shares, property or a commercial venture in the hopes of achieving a profit
Ethical Investing	Investment that is done in alignment with your moral code of values
Positive Screening	Actively investing in investments that are in line with your moral code
Negative Screening	Actively avoiding to invest in something that is not in line with your moral code
Assets	Anything of value that a business owns
Liabilities	Anything the entity owes to other entities
Bond	A debt investment in which the investor gives money to a business for a fixed number of years with interest, when the fixed amount of time ends, the business issues the investor with the interest, along with the principal amount
Capital	refers to the financial value of the assets, along with the tangible resources the company has such as machinery. Capital also refers to facilities such as production plants
Equity	Value of an asset minus all of the debt and liabilities on it.
Balance Sheet Equation	Assets=Liabilities+Shareholders Equity
Shareholder's Equity	represents the net value of a company, or the amount that would be returned to shareholders if all the company's assets were liquidated and all its debts repaid.
Entrepreneur	a person who sets up a business or businesses, taking on financial risks in the hope of profit.
Sole Trader	Owned and operated by 1 person, reaps all profits, suffers all losses
Partnership	Business owned by 2-20 people, called partners
Private Company	1-50 private owners called shareholders
Public Company	Unlimited number of shareholders

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