When one business takes over another business

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

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

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

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

The keeping and processing of a business’s financial records

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

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

The money being transferred into and going out of the business

A written set of guidelines that are intended to help businesses achieve the standards set by the government (e.g. in dealing fairly with customers)

Victoria’s government body established to regulate the marketplace, helping ensure fairness for businesses and consumers

The terms and conditions of sale between a customer and a business, including the amount of time provided for making final payment

A bank of information on existing and potential customers, including their contact information, personal details, previous interactions, buying habits and preferences

The address of a website on the internet

A local business that manufactures goods for overseas customers

The processes, methods and tools that allow a business to accurately monitor and manage its financial performance

Used primarily to help the business to calculate how much profit it has made over a period of time

Ensures that costs are minimised and that the business has access to the right amounts of materials when required

The joining together of two or more businesses to form one business

A written set of broad guidelines to be followed by all employees

A series of actions that enable a policy to be put into practice

The process of researching and selecting suppliers, establishing payment terms, negotiating contracts and the purchasing of resources that are vital for maintaining the production of the business’s good or service

A tax rate that increases as the individual earns a higher income

The engineering behind the design, construction and application of robots

Accounting principle recognising that the owner’s finances are separate to those of the business and therefore business transactions should be recorded separately

A form of online advertising that uses social media channels to deliver targeted commercial messages to potential customers

Written documents that provide evidence of a financial transaction

The production of a physical object from a digital design or model

A government agency that aims to reduce workplace injuries and support injured workers

Businesses or individuals that supply the materials and resources that the business needs to conduct its operations.

A process of abiding by moral standards and doing the ‘right’ thing in the interests of all stakeholders, that demonstrates commitment to the community and environment beyond what is required by law.

Provide a brief description of the term or topic.

Make the meaning of something clear and understandable by describing in detail with the use of examples.

Provide a detailed account of something; give the facts about something and if the question refers to a process, provide a detailed account in sequential order

Apply weighted criteria to the relative strengths and weaknesses of the arguments raised in the stimulus material, as well as provide your opinion.

Accurately state or explain the meaning of the term

Provide reasons for your choice

Determine or establish as being a particular thing, or determine the key characteristics or features.