Paper 2 Flashcards by Freya Morton

Q

What is owners capital

A

The owners own money put into a business

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Q

What is retained profit

A

Using last years profit this year

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Q

What is sale of assets

A

Selling property like land or machinery

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Q

What is overdraft

A

Taking more money from the bank then there is in it

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Q

What is trade credit

A

A period of time to pay your bill

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Q

What is a loan

A

Borrowing money from the bank or friends

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Q

What is a share issue

A

See,int shares as an LTD or PLC

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Q

what is crowdfunding

A

Encouraging people to contribute to a crowd fund

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Q

Uses of marketing department

A

Advertising and promoting

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Q

Uses of finance

A

Cash flow and investments and loans

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Q

HR

A

Employee experience, recruitment and training

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Q

Operations

A

Transport, quality, supply and technology

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Q

Quality assurance

A

Check quality every step

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Q

Quality control

A

Check at the end of the

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Q

Mystery guest

A

Conduct research and provide feedback

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Q

Revenue

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A

Price x quantity sold

Q

Total costs

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A

Fixed costs + variable

Q

Profit

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A

Total revenue - total costs

Q

Break even output

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A

Fixed costs/
Selling price - variable costs per unit

Q

Margin of safety

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A

Actual sales - break even sales

Q

Gross profit

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A

Revenue - cost of sales

Q

Net profit margin

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A

Net profit / revenue x100

Q

Rate of return

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A

Average annual profit/ initial investment x 100