Business Vocab

Question 1

Acid test ratio

Answer 1

Compares liquid assets to current liabilities

Question 2

Added value

Answer 2

The difference between the cost of purchasing materials and selling price of the finished goods

Question 3

Adding value

Answer 3

Increasing the difference between the cost of materials and the selling piece of the finished goods

Question 4

Annual (company) report

Answer 4

A dock met that gives details of companies activities over the year including its financial accounts

Question 5

Anseff matrix

Answer 5

Market penetration, market development, product development and diversification

Question 6

Asset

Answer 6

An item et monetary value that is owned by a business

Question 7

Autocratic management

Answer 7

One manager takes all decisions with very little if any input by others

Question 8

Batch production

Answer 8

Limited number of some product

Question 9

Benchmarketing

Answer 9

Comparing the business against the performance standards of the best business some in the industry.

Question 10

Blue ocean strategy

Answer 10

Exploits uncontested market space through productdifferentiation and low cost

Question 11

Boston matrix

Answer 11

Analysis the product portfolio of a business in teams of market share and market growth

Question 12

Brand

Answer 12

Identifying symbol, name, image or trademark

Question 13

Branding

Answer 13

The process et differentiate a product by developing a symbol, name, image, trademark

Question 14

Break-even analysis

Answer 14

Uses cost and revenue

Question 15

Break - ever point

Answer 15

A level of output at which total costs equal to revenue neither a profit nor a loss

Question 16

Butter inventory

Answer 16

Minimum inventory level that should be held

Question 17

Business investment

Answer 17

Expenditure by business o capital equipment

Question 18

Business objective

Answer 18

A stated measurable target that a business plans to achieve

Question 19

Capacity utilization

Answer 19

The proportion of maximum output capacity currently being achieved

Question 20

Capital employed

Answer 20

The total value of all long-team finance invested in the business

Question 21

Capital expenditure

Answer 21

The purchase et non-current assets that are expected to last more than 1 year

Question 22

Capital goods

Answer 22

The physical goods used by industry to aid in the production of other goods and services

Question 23

Capital intensive

Answer 23

İnvolving a high quantity of of capital equipment compared with labour input

Question 24

Cash flow

Answer 24

The sum of cash payments to a bjusiness less the sum of cash payments from the business

Question 25

Cash flow forecast

Answer 25

An estimate of the future cash inflows and outflows

Question 26

Cell production

Answer 26

Flow production split into self contained groups that are responsible for a complete unit of work

Question 27

Closing cash balance

Answer 27

Cash held by a business at the end of the month

Question 28

Coding

Answer 28

Process of labeling and organising quantitative data to identify the main themes and the links between them

Question 29

Collusion

Answer 29

Businesses agree to work together by fixing prices sharing contrasts between them