Page 165 - Book-keeping for Secondary Schools Student’s Book Form One
P. 165
Glossary
Revenue sum of income generated in the normal course of business operations (such
as income from sales of goods) before the deduction of expenses
Services intangible goods that are sold or bought
Sole-proprietor single owner of a business
Statement of a statement which lists all assets and liabilities (together with their financial
FOR ONLINE READING ONLY
affairs value) to enable one to calculate value of capital
Transaction this is a business event with financial values which can be recorded in books
of accounts
Wages payment made to casual workers for the work done
157
Book Keeping Form 1 New 2024 FINAL.indd 157 18/10/2024 10:14
