Income Flashcards
9.1 The principles of Finance (9 cards)
What are direct sales?
when the seller interacts firectly with the customer without any intermediary (person inbetween).
What are the different types of contracts?
- Full-time
- Part-time
- fixed-term
- Zero-hours
- Freelance
What is a full-time contract?
Permanent contracts that are usually based on a 35-hour week and include annual leave, pension and benefits schemes.
Wht is a part-time contract?
contracts for employees who work less than 35-hour weeks
What is fixed-term contracts?
contracts offered or a specific period of time and often used for seasonal work or to complete a specific project
What is a zero-hour contract?
Contracts that do not garantee and minium number of hours of work per week, and are often used in industries where demand for labour fluctuates.
What is a freelance Contract?
Contracts offered to self-employed individuals who provide services to a company on a project-by-project basis.
What are Services?
Refers to income obtained from providing a service o, or carrying out a job for, a company or individual. Services are carried out under a contract or working agreement.
