Karteikarten
Flashcards - Business studies - Revision
Karten in diesem Stapel (29)
- 1Purchase OrdersUsed when a business needs to order something from another business
- 2Delivery notescompleted by the business sending good, it outlines the items that have been included in the parcel/delivery
- 3Good received notesA document completed by the person unpacking the parcel/delivery
- 4Purchase invoicereceived by the business from a supplier requesting payment for goods the business has had on credit items
- 5Sales invoiceIs sent from a business and is a request for payment for goods supplied to a customer
- 6Credit notereduces the amount owed on an invoice following refunds
- 7Statement of accountsummary of transactions between a business and its regular customer
- 8Remittance advicebottom section of a statement of account and can be used as reference when returning payment
- 9ReceiptA document stating stock bought by the customer from the business
- 10Cashnot often used for large payments, small payments use a Petty Cash system
- 11Chequeto accompany remittance advice
- 12Credit cardA small plastic card issued by a bank, building society, etc., allowing the holder to purchase goods or services on credit.
- 13Debit cardA card allowing the holder to transfer money electronically from their bank account when making a purchase.
- 14Direct debitan arrangement made with a bank that allows a third party to transfer money from a person's account on agreed dates, typically in order to pay bills.
- 15IncomeMoney earned by a individual or business
- 16ExpenditureThe costs that you have to pay
- 17Opening balanceThe opening balance is the money which the business available to spend at the beginning.
- 18Closing balanceIs the inflow/outflow added to the opening balance.
- 19Fixed costscosts that do not change
- 20Variable costscosts that change depending on the level of production taking place
- 21Total costsThe total amount a business has to pay
- 22Break-even pointThe break even point is the production level where total revenues equals total expenses. In other words, the break-even point is where a company produces the same amount of revenues as expenses either during a manufacturing process or an accounting period.
- 23Break-even formulaFixed costs divided by contribution = number of units required to break even
- 24Break-even chartA graph to show where the break even point is and the margin of safety.
- 25salesThe value of the good or services being sold
- 26Cost of salesThe amount you have to pay for the goods or services being sold in your business
- 27Gross profitis the amount of profit made by a business as a result of buying or selling goods or services. Formula to calculate gross profit = selling price = buying price
- 28ExpensesThe costs of running the business e.g electricity and wages
- 29Net profitFormula for net profit = Gross profit - costs of running the business
Informationen
- Beschreibung
- GCSE Business Studies Karteikarten am Flashcards - Business studies - Revision , erstellt von UN PS am 10/10/2016.
- Erstellt von
- UN PS
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