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Complex Business Studies Exam > Vocab Revision > Flashcards

Vocab Revision Flashcards

1
Q

Yours sincerely

A

when you know the addressee és name

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2
Q

ENDORSE

A

Transfer a bill or cheque by signing it on the back

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3
Q

MERCHANT BANK

A

Type of bank that specialises in international trade and finance

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4
Q

CERTIFICATE OF ORIGIN

A

Document that shows where goods were made

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5
Q

CLEAN BILL

A

Bill of exchange without accompanying documents

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6
Q

DOCUMENTARY CREDIT

A

Letter of credit that requires the seller to supply shipping documents to a bank to obtain payment

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7
Q

DAYS AFTER SIGHT

A

Number of days within which a bill of exchange must be paid after presentation

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8
Q

OVERHEAD

A

Regular cost of running a company, e.g. rent.

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9
Q

SIGHT DRAFT

A

Bill of exchange that must be paid immediately it is presented

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10
Q

CREDIT FACILITIES

A

Means of allowing credit, e.g. bill of exchange

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11
Q

BAD DEBT

A

Debt that is not likely to be paid

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12
Q

BILL OF EXCHANGE

A

Method of payment by which the seller can give the buyer credit for an agreed period, e.g. 30 days

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13
Q

CREDIT RATING

A

Evaluation of creditworthiness of an individual or company

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14
Q

DEFAULT

A

To fail to do something required by law

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15
Q

REFERENCE

A

Written report on company’s creditworthiness

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16
Q

PROTEST

A

Take legal action to obtain payment

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17
Q

CURRENT ACCOUNT

A

Account into which a customer can pay money, or draw it out, without giving notice

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18
Q

BANK TRANSFER

A

Movement of money from one bank to another

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19
Q

REMITTANCE

A

Payment

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20
Q

BALANCE

A

Difference between the totals of money coming into and going out of a bank account

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21
Q

STATEMENT OF ACCOUNT

A

List of amounts paid and owed.

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22
Q

DEBIT NOTE

A

Document informing a customer of money owed

23
Q

PROMISSORY

A

A promissory note is a form of IOU (I owe you)

24
Q

GIRO

A

a system for transferring money from one bank or post office to another

25
Q

PRO FORMA

A

An invoice that is sent in advance of the goods ordered

26
Q

INCOTERM

A

Internationally used term which indicates which price is being quoted to the customer

27
Q

COMPLIMENTS SLIP

A

Small piece of paper with a company’s details on it.

28
Q

INVOICE

A

Listing of goods or services that states how much must be paid for them

29
Q

FORWARDING AGENT

A

Person/organisation that conveys goods to their destination

30
Q

SETTLEMENT

A

Payment of an account.

31
Q

AIR WAYBILL

A

Document that gives information about goods sent by air.

32
Q

COVERING LETTER

A

Letter accompanying a document or goods, explaining the content

33
Q

ADVICE NOTE

A

Document informing a customer that a consignment is on its way to them

34
Q

NET PRICE

A

Price which does not include additional costs such as transport or insurance

35
Q

CARRIAGE FORWARD

A

Condition of sale when the customer pays for the transport of the goods

36
Q

QUOTATION

A

Price for work to be done or a service to be provided

37
Q

UNDER SEPARATE COVER

A

In a separate envelope or parcel

38
Q

GROSS PRICE

A

Price which includes additional costs such as transport or insurance

39
Q

LOYALTY DISCOUNT

A

Amount taken off the usual price of goods when they are sold to a regular customer

40
Q

CATALOGUE

A

Publication giving details of goods or services offered by a company

41
Q

ESTIMATE

A

Prices given for work to be done

42
Q

TENDER

A

Written estimate, usually for a large job such as building a factor

43
Q

WHOLESALER

A

Person/company that buys goods from manufacturers and sells them to retailers

44
Q

SHOWROOM

A

Place where a company demonstrates its products

45
Q

SUBSIDIARY

A

Company that is partly owned by a larger one

46
Q

PROSPECTUS

A

Publication giving details about a school or college

47
Q

SALE OR RETURN

A

Term used when a supplier agrees to buy back unsold goods

48
Q

QUANTITY DISCOUNT

A

Money taken off the usual selling price of goods when the buyer is purchasing a larger amount

49
Q

BLOCKED STYLE

A

Style of writing in which each line starts directly below the one above

50
Q

SIGNATURE BLOCK

A

Name and job title typed below a signature

51
Q

REFERENCE

A

Figures and/or letters written at the top of a letter to identify it

52
Q

ENCLOSURE

A

Document enclosed with a letter

53
Q

PRIVATE AND CONFIDENTIAL

A

Phrase written on a letter intended only to be read by the addressee

Complex Business Studies Exam (2 decks)

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