Unit 2 Business Management AOS 1 Quiz

The outstanding payments a business is owed by its customers

• accounts receivable
• franchisor
• debt
• balance of payments

When one business takes over another business

• assets
• acquisition
• business
• business idea

The process of testing and evaluating a business’s accounting processes and internal control

• goodwill
• business opportunity
• auditing
• business mentors

A government body that has the role of enforcing the Competition and Consumer Act 2010 and a range of additional legislation promoting competition and fair trading, and regulating national infrastructure

• corporate social responsibility
• boycott
• economic growth
• Australian Competition and Consumer Commission

The government body in charge of administering and collecting tax for the federal government

• Australian Taxation Office (ATO)
• goal
• imports
• economy

Shows a business’s assets and liabilities (the financial position of a business) at a point in time

• feasibility study
• balance sheet
• innovation
• market conditions

The keeping and processing of a business’s financial records

• incorporated
• industry
• bookkeeping
• effectiveness

Estimating the business’s financial performance for a given period in the future

• Business Activity Statement (BAS)
• bricks and clicks
• efficiency
• budgeting

Provides a summary of all the business’s cash receipts and cash payments; it is compiled from the receipt and payment source documents.

• cash book
• entrepreneurship
• exports
• entrepreneur

The money being transferred into and going out of the business

• zoning
• cash flow
• working capital
• incorporation