Capital individualistic
Classified in Economy
Written at on 
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fixed costs: these remain fixed no matter what the level of output, such as rent of premises.
variable costs: these vary as output changes, such as the direct cost of materials used in making a washing machine or the electricity used to cook a fast-food meal.
semi-variable costs:these include both a fixed and a variable element. Example: the electricity standing charge plus cost per unit used; sales person’s fixed basic wage plus a commission that varies with sales.FIXED ASSETS → Tangible: assets to be kept and used by the business for more that one year.
→ Intangible: Items of value that do not have a physical presence.
CURRENT ASSETS → Likely to be turned into cash before the next balance sheet.
CURRENT LIABILITIES → Debt of the business that will have to be paid within one year.
WORKING CAPITAL → Current assets-current liabilities, can be referred to net current assets.
SHAREHOLDERS’ EQUITY → The original capital paid into the business when the shareholders bought the shares.
NON-CURRENT LIABILITIES (LONG-TERM) → Value of debts of the business that will be payable after more than one year.
marketing-related intangible assets:
are used to market or promote products or services. Trademarks, logos or trade names are words, phrases or symbols that distinguish or identify a company or its products. Example: nike ‘just do it’
they can be renewed indefinitely for periods of ten years at a time.