What is a trade creditor?

Somebody your business owes money to

Somebody who owes money to your business

It a type of secondary research

Good/service bought from a supplier in another country.

Good/service sold to a customer in another country

What is an interest rate?

The rate charged for borrowing money over a period of time, or the reward for saving money.

Testing/examining items to check that materials or items conform to the specified requirements/standards.

A summary of the revenue and expenses over an accounting period that lead to a profit or loss position.

A summary of what the job entails, including job title, duties and who they are responsible for/to.

A fixed sum of money borrowed for a specified period of time at an agreed rate of interest; repaid in installments.

It is a type of trade creditor common to partnerships.

It is a type of trade debtor common to partnerships.

The total cash inflows received by an enterprise.

expenditure is greater than income.

revenue is greater than expenditure.

income is greater than expenditure.

cash inflows surpass cash outflows.

collects information about the customers’ needs, wants and preferences that will help the business to make design, production and marketing decisions.

is when two or more businesses agree to join together

organises and coordinates business activities in order to fulfill production and meet the business’ objectives.

the amount by which current sales exceed the break-even level of output.

A method of borrowing to purchase property, using the property as security.

The lowest hourly rate that can legally be paid by an employer to an employee.

The difference between cash inflows and cash outflows.

A specific statement that defines a precise goal that can be measured and delivered within a given time.

What is an objective?

A specific statement that defines a precise goal that can be measured and delivered within a given time.

The difference between cash inflows and cash outflows.

The cost of making one choice concerning the use of limited resources at the expense of an alternative choice.

The way in which the organisation is divided into levels of management, functions and responsibilities.

What is an overdraft?

Borrowing from a bank by drawing from a current account so that the balance becomes less than zero.

Contracting another business to carry out some of the business’ activities, often to reduce costs.

The cost of making one choice concerning the use of limited resources at the expense of an alternative choice.

A business that is owned and operated by a group of between 2 or more people.

What is a partnership?

A business that is owned and operated by a group of between 2 or more people.

A business that is owned by shareholders; the shares are not available to the general public. Shareholders have limited liability.

The range of products offered by one enterprise.

The amount produced by a worker/machine/factory in a given time; the ability to produce more output with fewer resources.

A business that is owned by shareholders. Anyone can buy shares in the business. Shareholders have limited liability.

A business that is owned by shareholders; the shares are not available to the general public. Shareholders have limited liability.

A business that is owned and operated by a group of between 2 or more people.

A scheme that pays employees an additional amount based on the year’s profits.

What definition matched recycling?

The conversion of waste into reusable material.

When the raw materials that are available are not sufficient to meet needs.

The possibility that the return on investment will be lower than expected.

Examining information from published sources; desk research using information that has been collected for other purposes.

An action that is carried out to fulfill a need or demand in return for payment.

The units of the business that are available for sale to investors.

Ways of obtaining the funds the business needs; money may be needed to meet short or long term needs.

Those with an interest in the way that a business operates.

What is a stakeholder?

Those with an interest in the way that a business operates.

A business that is owned and operated by one person.

Those people who own shares in a limited company; each shareholder is a part owner of the business.

The process of choosing which applicant to employ.

What is sustainability?

The process of operating without damaging the environment or depleting natural resources.

A business’ goals that relate to fair treatment of the people concerned: customers, investors, suppliers or workers.

A method of paying employees for their work; based on a fixed annual amount, normally paid monthly

The process of hiring a new employee.

What is a target market?

The particular group of customers to which a business aims to sell its product; a particular market segment.

The key benefit of a good/service; it differentiates the product from others and will be the focus of advertising and promotion.

The costs that change as the business' output changes.

A business’ ability to make maximum profit with low operating expenses.

BTEC ENT - Quiz

Authored by Conor Sutton

Business

10th Grade

Used 15+ times

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33 questions

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MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What form of research is conducted directly by an enterprise?

Secondary research

Primary research

Qualitative research

Desk research

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What tax does a limited company pay based on their profits?

Stamp Duty

Pay As You Earn (PAYE)

Inheritance tax

Corporation tax

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not an ownership type?

Sole trader

Partnership

Human Resource

Limited company

Public Limited Company

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of research looks into a persons thoughts, feelings and ideas?

Emotional research

Value added research

Qualitative

Quantitative

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the formula for total costs?

Revenue + fixed costs

Fixed costs + variable costs

Revenue + fixed costs + variable costs

Fixed costs - Revenue

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the formula for total revenue?

Profit - total costs

Revenue + total costs

Price per unit x amount of units sold

Price per unit x variable costs - fixed costs

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a trade debtor?

Somebody your enterprise owes money to

It is a form of secondary research.

It is a form of primary research

Somebody who owes your business money

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BTEC ENT - Quiz

What form of research is conducted directly by an enterprise?

What tax does a limited company pay based on their profits?

Which of the following is not an ownership type?

Which type of research looks into a persons thoughts, feelings and ideas?

What is the formula for total costs?

What is the formula for total revenue?

What is a trade debtor?

What is a trade creditor?

Money received by the business from its operations or investments is also known as what?

Money paid out by the business to fund its operations or investment activities is also known as what?

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