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Business
B on index
| Question | Answer |
|---|---|
| Bad Debt Insurance | cover the business for the loss if the debtor does not paid the money owed |
| Bad debts | when the debtor is declared bankrupt and is unable to pay the amount owing to the business |
| Balance of Payments | is a statement of the value of all exports and all imports (both visible and invisible) |
| Balance of trade | Is a statement showing the value of all visible imports during a particular period of time. Usually on a year. It also shows the difference between years |
| Balance Budget | total income is equal to total expenditure |
| Bank draft | is a cheque drawn on the bank itself and is made payable to the person who is to receive the money.It is a very safe way of transferring money and is guaranteed by the because the bank will already have the money |
| Bank giro | credit transfer. This allows a customer to transfer money from one account to another. A separate bank giro credit transfer form has to be paid. |
| Bank overdraft | banks sometimes allows customers to write cheques for more money then they have in they're account. Permission must be asked first |
| Bank statement | letter from the bank stating the actual amount in your bank account and all your lodgement and withdrawals |
| Bar code | is a made up of a series of vertical lines and a thirteen digit number. The bar code is made up of a country number,a company number a, product number and a check number |
| Blank cheque | a cheque with a missing piece of information. Usually the amount |
| Book of first entry | where transactions are first recorded. |
| Brand name | helps customers to identify the manufacturer of the product and to tell it apart from a all other products. The same name/symbol will be used on all of the business's products e.g.Nike |
| Budget day | when the Minster of Finance prepares a statement for the Dail and country outlining the governments income and expenditure. Budget day is the first Wednesday in December |
| Budget surplus | Estimated income is more than estimated expenditures (put into savings) |
| Budget deficit | Estimated income is less than estimated expenditures |
| Budget | a plan which estimates future income, expenditure and savings. A budget is a forecast. |
| Building co-opreatives | formed when a group of the workers set up a co-operatives to complete in the building industry |
| Building Insurance | insures he business against loss or damage in an event of the building collapsing, or damaging from an explosion. It will also cover any damage done to a third party |
| Burglary/theft insurance | compensates the business in the event of theft of stock, equipment or cash. |
| Business Plan | A way of setting out what a company is,what they hope to do and how they hope to do it. |
| Business Reply Service | allows people to send queries or orders to a business without having to pay only for the postage. The business pays only for the number of letters it actually recieves |
Created by:
Naomi Odeniyi
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