BUSINESS TERMS — BILKUL SIMPLY

Making Business Jargon Bilkul Simple

Bilkul Bazaar | Sunday Special

Making Business Jargon Bilkul Simple.

1. ASSET
Anything valuable that a business owns, such as property, machinery, cash or equipment.
Example: A company’s factory is an asset.

2. LIABILITY
Money or obligations that a business has to pay to others.
Example: A bank loan is a liability.

3. EQUITY
The owner’s share in a business after its liabilities are deducted from its assets.
Example: If assets are ₹10 crore and liabilities are ₹6 crore, equity is ₹4 crore.

4. TURNOVER
The total value of sales made by a business during a particular period.
Example: A retailer selling goods worth ₹50 lakh in a year has a turnover of ₹50 lakh.

5. DEPRECIATION
The gradual reduction in the value of an asset because of use, age or wear and tear.
Example: A company’s delivery vehicle loses value every year.

Know the Term. Understand the Business.

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