A fixed cost is a cost that does not change with an increase or decrease in the amount of goods or services ...

Marketing is a social & managerial process by which individuals or organizations obtain what they need through creating and exchanging value with others.

In a narrower business context, marketing involves building profitable, value-laden exchange relationships with customers.

A sole proprietor will be responsible for business debts, as will most partners in a partnership. By contrast, the purpose of a corporate structure is to shield those with an ownership interest from personal liability.

Financial statements are written records of a business's financial situation.

They include standard reports like the balance sheet, income or profit and loss statements, and cash flow statement. 

Ledger is called book of final entry.

After which trail balance is made then final accounts and eventually balance sheet.