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theme 2
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2.5
business > theme 2
12 cards
2.2
business > theme 2
8 cards
Cards (25)
limited liability
is where there is legal separation between the owners personal finance and the
finance
of the business
liquidity
is the businesses ability to pay its
bills
on time depending on the cash they have available
unlimited liability
is where owners are fully responsible for debts, there is no separation between their finance and the
businesses
working capital is the amount of cash and other
current assets
a
business
has available after all of its current liabilities are accounted for
price elasticity
measures the extent to which demand for a product changes when the
price
is changed
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