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Business
| Question | Answer |
|---|---|
| Personal Attitudes,Views on saving, spending, borrowing | |
| Life Stages,Financial needs change as you age | |
| Life Events,Events that affect money | |
| External Influences,Economy, government, inflation, tax | |
| Interest Rates,Cost of borrowing or reward for saving | |
| Cash,Notes and coins | |
| Debit Card,Pays from your bank instantly | |
| Credit Card,Borrow now, repay later | |
| Direct Debit,Automatic variable payments | |
| Standing Order,Automatic fixed payments | |
| Electronic Transfer,Money sent bank to bank | |
| Contactless,Tap to pay | |
| Standard Account,Normal everyday account | |
| Basic Account,Simple account with no overdraft | |
| Student Account,Account with student perks | |
| Packaged Account,Account with extra services | |
| ISA,Tax‑free savings | |
| Savings Account,Earns interest | |
| Premium Bonds,Prize‑draw savings | |
| Overdraft,Borrow from your bank account | |
| Personal Loan,Borrow fixed amount and repay monthly | |
| Mortgage,Long‑term loan for property | |
| Credit Card (Borrowing),Revolving credit | |
| Hire Purchase,Pay monthly and own at the end | |
| Leasing,Rent and never own | |
| Insurance,Protection from financial loss | |
| Car Insurance,Covers vehicle risks | |
| Home Insurance,Covers house and contents | |
| Life Insurance,Pays out when you die | |
| Travel Insurance,Covers travel risks | |
| Internal Finance,Money from inside the business | |
| External Finance,Money from outside sources | |
| Short‑Term Finance,Repaid within a year | |
| Long‑Term Finance,Repaid over many years | |
| Invoice,Request for payment | |
| Credit Note,Reduces amount owed | |
| Delivery Note,Confirms delivery | |
| Purchase Order,Buyer requests goods | |
| Statement of Account,Summary of transactions | |
| Income Statement,Shows profit or loss | |
| Balance Sheet,Shows assets and liabilities | |
| Depreciation,Asset losing value over time | |
| Break-even,Fixed costs ÷ (selling price – variable cost) | |
| Margin of Safety,Actual output – break-even output | |
| Net Cash Flow,Inflows – outflows | |
| Closing Balance,Opening balance + net cash flow | |
| COGS,Opening inventory + purchases – closing inventory | |
| Gross Profit,Revenue – COGS | |
| Net Profit,Gross profit – expenses | |
| GPM,(Gross profit ÷ revenue) × 100 | |
| NPM,(Net profit ÷ revenue) × 100 | |
| Current Ratio,Current assets ÷ current liabilities | |
| Acid Test,(Current assets – inventory) ÷ current liabilities | |
| ROCE,(Net profit ÷ capital employed) × 100 | |
| Depreciation Formula,(Cost – residual value) ÷ useful life | |
| Revenue,Selling price × quantity sold | |
| Total Costs,Fixed costs + variable costs | |
| Variable Cost per Unit,Total variable costs ÷ units produced | |
| Profit,Revenue – total costs | |
| Opening Balance,Money at the start of the month | |
| Capital Employed,Total assets – current liabilities |
Created by:
19063graingerD
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