Business terms glossary
11 August 2024 (Updated 11 August 2024)
| Term | Definition |
| Turnover | Money received from sales over a set time period (typically a financial year). |
| Net profit | Money left after all expenses (tax, salary, etc). |
| Fixed asset | A business resource that isn’t expected to be sold within a financial year (e.g., company car, company PC, office building). |
| Current asset | A business resource that is expected to be used or sold within a financial year (cash in the bank, retail store stock, restaurant food). |
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