C Flashcards
Capital
factor of production including all man-made resources used by a business
Capital employed
the total value of all long-term finance invested in the business
Capital expenditure
involves the purchase of assets that are expected to last for more than one year, such as building and machinery
Capital goods
the physical goods used by industry to aid in the production of other goods and services, such as machines.
Cash flow
the sum of cash payments to a business (inflows) less the sum of cash payments (outflows)
Cash flow forecast
estimate of a firm’s future cash inflows and outflows
Cash flow statement
record of the cash received by a business over a period of time and the cash outflows from the business
Cash inflows
payments in cash received by the business
Cash outflows
payments in cash made by the business
Channel of distribution
the chain of intermediaries a product passes through from producer to final consumer
Closed questions
questions to which a limited number of pre-set answers is offered
Closing cash balance
cash held at the end of the month it becomes next month’s opening balance
Cluster sampling
using one or a number of specific groups to draw samples from and not selecting from the whole population, e.g. using one town or region
Command economy
economic resources owned, planned and controlled by public sector
Commission
a payment to a sales person for each sale made
Competition-based pricing
a firm will base its price upon the price set by its competitors
Consumer goods
the physical and tangible goods sold to the general public, include durable (can be used more than once) consumer goods, such as cars and washing machines, and non durable (can be used once) consumer goods, such as food and drinks.
Consumer markets
markets for goods and services bought by the final use of them
Consumer profile
a quantified picture of consumers of a firm’s products, showing proportions of age groups, income levels, location, gender and social class
Consumer services
the intangible products sold to the general public (including hotel accommodation, insurance, train journeys etc.)
Contribution per unit
selling price less variable cost per unit
Contribution-cost pricing
setting prices based on the variable costs of making a product in order to make a contribution towards fixed costs and profit
Corporate social responsibility (CSR)
this concept applies to those businesses that consider the Interests of society by taking responsibility for the impact of their decisions and activities on customers, employees, communities and the environment
Cost of sales
a.k.a.cost of goods sold; the direct cost of purchasing the goods that were sold during the financial year
Credit control
monitoring of debts to ensure that credit periods are not exceeded
Creditors
suppliers who have agreed to supply products on credit and who have not yet been paid
Current assets
assets that are likely to be turned into cash before the next balance sheet date
Current liabilities
debts of the business that will usually have to be paid within one year
Current ratio
current assets/current liabilities
Customer relationship marketing (CRM)
using marketing activities to establish successful customer relationships so that existing customer loyalty can be maintained
