IB Business HL 3.4 Vocab

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Cost of sales

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15 Terms

1

Cost of sales

The direct costs attributable to the production of goods sold by a company, including materials, labor, and manufacturing overhead.

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2

Gross profit

The difference between revenue and the cost of goods sold, representing the profit earned from a company's core business operations before deducting operating expenses.

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3

Expenses

The costs incurred by a business in order to generate revenue, including overhead costs such as rent, utilities, salaries, and marketing expenses.

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4

Retained profit

The portion of net income that a company retains after paying dividends to shareholders, which is often reinvested into the business for growth or used to pay off debt.

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5

Dividends

Payments made by a company to its shareholders as a distribution of profits, usually on a regular basis, representing a return on their investment.

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6

Non-current assets

Long-term assets held by a company for more than one accounting period, such as property, plant, equipment, and long-term investments.

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7

Depreciation

The systematic allocation of the cost of tangible assets over their useful life, reflecting the decrease in value due to wear and tear, obsolescence, or other factors.

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8

Current assets

resources a company can sell, use, or convert to cash within a year.

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9

Current liabilities

Obligations that are due within one year, such as accounts payable, short

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10

Non-current liabilities

Long-term obligations that are not due within one year, including long-term loans, bonds payable, and deferred tax liabilities

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11

Net assets

The difference between a company's total assets and total liabilities, representing the company's equity or ownership interest.

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12

Working capital

The difference between a company's current assets and current liabilities, representing its ability to meet short

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13

Equity

The ownership interest in a company, representing shareholders' residual claim on its assets after deducting liabilities.

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14

Intangible assets

Non-physical assets with value that is derived from rights and privileges, such as patents, trademarks, copyrights, and goodwill.

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15

Goodwill

The premium paid for acquiring a company above its net tangible assets value, representing the value of its reputation, customer base, and other intangible factors.

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