Chapter 1

Question 1

Stakeholder

Answer 1

a person or group of people who have an interest in how a business performs

Question 2

Creditors

Answer 2

people or organisations that are owed money by the business

Question 3

Customers

Answer 3

people who purchase goods or services from the business

Question 4

Customer Service

Answer 4

this covers all aspects of how the customer is dealt with by the business. There may be a special department that deals with customer queries or problems

Question 5

Profit

Answer 5

the money left over from the sales of goods (revenue) or services after the business has paid all of its costs

Question 6

Revenue

Answer 6

money coming into the business from sales

Question 7

Suppliers

Answer 7

people who supply goods or stock to the business

Question 8

Shareholders

Answer 8

people who invest by buying shares and become joint owners of a business. They receive a percentage of the profit the business makes in return for buying the shares

Question 9

Sponsorship

Answer 9

a way of publicising a business by giving money for a sporting or social event in exchange for publicity of some sort