Define the term trade receivables.

Mark scheme

Marking points from the official mark scheme (Feb/Mar 2024). The mark or mark type is shown in brackets.

1. [2] the amount owed by a business' customers/debtors for products supplied (on credit) but not yet paid for
2. [2] total amount a company has billed to a customer for goods and services (on credit) delivered but haven't yet received payment for
3. [1] money owed
4. [1] start up a business
5. [1] grow/expand the business
6. [1] survive
7. [1] run the business
8. [1] working capital
9. [1] buy capital equipment
10. [2] start-up finance or capital, purchase assets e.g. premises, equipment, machinery, tools, vehicles
11. [2] pay for market research and promotion to develop product and create demand
12. [2] need more finance in the early stages before getting established or when facing a crisis
13. [2] money to start trading, pay staff wages, utility bills and suppliers on time
14. [2] having funds to pay for additional assets, new machinery, new staff, additional raw materials