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BUSINESS HELP PLEASE
by Danielle1358 Junior Cert Business Studies — 13/06/16 2

a list of keywords anyone???? in word doc./pdf form if possible!


2 Comments
alfie_flynnzer — 13/06/16
Key Business Terms Income Basic wage – Payment for working a normal week Bonus – Income in addition to basic pay Budget – A plan of future income and expenditure Commission - A payment based on each item sold to encourage salespeople to sell more goods. Deductions - Money taken from an employees pay before he receives it. Gross pay - total earnings before deductions. Income tax – money paid to the government Net Pay - Take home pay Overtime - The payment for working extra hours Payslip – the document that an employee gets on payday, giving details of pay and deductions. Statutory Deductions – Deductions compulsory by law paid to the government. Superannuation – Contributions paid towards a pension Tax credit – Given each year to individual taxpayers for the purpose of reducing their tax liability Expenditure False economies – Short term saving – long term cost Impulse buying – Buying without thinking of the cost. Opportunity cost – Making a choice as a result of having a limited income. Priorities – Spending on the most needed or most important items first Household budgeting Breakeven – Income equals expenditure Budget – A plan of future income and expenditure Closing Cash – Opening cash and net cash. Consumer Durables – Goods that will last for a long period of time. Deficit - Expenditure greater than income Estimate – A guess at the size of the income and expenditure. Net Cash – Total income minus total expenditure Surplus – Income greater than expenditure. Household accounts Balance – The difference between the two sides of an account Contra Entry – Where money is switched between the Cash A/C and Bank A/C. Credit - Right hand side of Analysed Cash book Debit – Left hand side of Analysed Cash book The consumer Loss Leader - A product sold at a very low price to attract customers. Price war - Where shops are selling similar products undercut each other to attract customers. Caveat Emptor Caveat Emptor - Let the buyer beware - Goods should be carefully examined before purchase Redress - Some form of compensation Money and Banking Cheque - Written instruction by a current account holder to his bank to pay a stated amount of money to a named person. Credit Card - Plastic money: Buy now - Pay later with interest Token money - Coins that do not contain their actual value in metal Bank Reconcilliation Statement - Prepared to reconcile bank account and bank statement Bank statement - Contains details of all transactions in a customers current account Current account - Customer receives cheque book - no interest paid on account Deposit account - Savings account where interest is earned on money invested. Government Duty on Cheques - Tax collected by the government on cheques Overdraft Accommodation - Permission granted by banks to currecnt account holders allowing them to overdraw their accounts by a stated amount. Electronic Funds Transfer at Point of Sale - The use of Laser Cards and smart cards to pay for goods. Executor - A person appointed by another to ensure that his / her estates is distributed according to his / her will. Life assurance - Policy providing money for family after death of main earner in family. Mortgage - House Loan, deeds of house are given as security. Share - Part ownership of a company Stock Exchange - A market where shares are bought and sold Strongroom - A safe for storage of valuables and important documents Trustee - A person appointed by another person to manage funds.
Danielle1358 — 13/06/16
thank you so much!
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