worker's non-attendance at work without good reason
1 of 25
ACID TEST RATIO
ratio between liquid assets and current liabilities
2 of 25
ADDING VALUE
selling a product for more than it cost to produce it
3 of 25
ADVERTISING
paid-for communication with consumers which use printed or visual media, the aim is to inform and persuade consumers to buy a product
4 of 25
ANNUAL GENERAL MEETING (AGM)
a meeting for shareholders that limited companies must hold
5 of 25
APPRECIATION
a currency is said to appreciate if the value of the currency increases with respect to another country
6 of 25
APPROPRIATION ACCOUNT
records the distribution of profit after tax; usually dividends and retained profits
7 of 25
ASSETS
resources that are owned by and owed to a business
8 of 25
AUTOCRATIC LEADERSHIP
a leadership style where the leader makes all the decisions
9 of 25
AVERAGE COSTS
the cost of producing a single unit of output
10 of 25
BALANCE OF PAYMENTS
the difference between the value of export and import of goods and services of a country over a year
11 of 25
BALANCE SHEET
an accounting statement that records the assets, liabilities and owner's equity of a business at a particular date
12 of 25
BANK LOAN
provision of finance by a bank which the business will repay with interest over an agreed period of time
13 of 25
BARRIERS TO TRADE
usually taxes, quotas or bans that one country places on the goods of other countries to prevent or increase the cost of them entering that country
14 of 25
BATCH PRODUCTION
the production of goods in batches, each batch passes through one stage of production before moving on to the next stage
15 of 25
BELOW-THE-LINE PROMOTION
promotion that is not paid-for communication but uses incentives to encourage consumers to buy
16 of 25
BONUS
an additional reward paid to workers for achieving targets set by managers
17 of 25
BRAND
a name, image or symbol that distinguishes a product from competitors products
18 of 25
BRAND IMAGE
the general impression of a product held by consumers
19 of 25
BREAK-EVEN
the level of output where revenue equals total costs; the business is making neither loss nor profit
20 of 25
BUSINESS ACTIVITY
the process of producing goods and services to satisfy consumer demands
21 of 25
BUSINESS ENVIRONMENT
the combination of internal and external factors that influence the operations of a business
22 of 25
BUSINESS PLAN
a detailed written document outlining the purpose and aims of a business which is often used to persuade lenders or investors to finance a business proposal
23 of 25
BUSINESS START-UP
a newly formed business, they usually start small, but some might grow to become much bigger
24 of 25
CAPITAL EXPENDITURE
spending by a business on non-current assets such as machinery or buildings
25 of 25
Other cards in this set
Card 2
Front
ratio between liquid assets and current liabilities
Back
ACID TEST RATIO
Card 3
Front
selling a product for more than it cost to produce it
Back
Card 4
Front
paid-for communication with consumers which use printed or visual media, the aim is to inform and persuade consumers to buy a product
Back
Card 5
Front
a meeting for shareholders that limited companies must hold
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