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Business
Christmas Exams 2015
| Question | Answer |
|---|---|
| overtime | this is when you work over the regular hours |
| defecit | this is when you Expenditure is higher than your Incom |
| irregular expenditure | this is when you pay a different amount of money and on a different date |
| benefit in kind | Incom not in the form of money |
| opportunity cost | an opportunity cost is when you want to buy two things and you only have enough for one. the thing you don't buy is the opportunity |
| Discretonary Expenditure | discretonary expenditure is when you buy some thing you don't need EG:holiday |
| Surplus | surplus is when your Incom is higher than your Expenditure |
| Fixed Expenditure | fixed expenditure is when you pay the same amount of money on the same date EG:rent |
| Deposit account | a deposit account is used to save money. the bank will pay you interest on the money that you saved and you also get a credit card |
| Current account | no interest is received in a current account but you can pa bills using your debit card or cheque you can also use a standing order and a direct debit you can get an over draft on your account and you an also use paypath |
| bank overdraft | this is when the bank gives permission to a person with a current account to take more money from the account than is available in it to a certain amount |
| budgeting | every family have a budget this is a plan of the money coming in and going out |
| current expenditure | this is when you spend money every week or every month EG:esb bill and food |
| capital expenditure | this is when you spend money now and again |
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saoirsec13
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