Business
What is the difference between a shareholder and a stakeholder?
A shareholder owns shares in a company. A stakeholder is anyone interested in the company’s success.
What do we call a person who co-owns a business with someone else?
A partner
What do we call a place where customers can collect their orders?
A pickup point
What does “damaged” mean?
Broken or harmed.
What do we call costs that stay the same regardless of how much a business produces?
Fixed costs.
What is the money invested in a business called?
Capital
What is it called when two people work together to achieve a common business goal?
Collaboration
What document comes with delivered goods and lists what was delivered?
A delivery note.
What is a “frame” used for?
To hold a picture or mirror.
What do we call costs that change depending on how much a business produces?
Variable costs.
What is the difference between limited and unlimited liability?
Limited liability means you may lose only the money you invested. Unlimited liability means you may have to pay business debts with your own money.
What should business partners do before starting a business to agree on their roles and responsibilities?
Make a partnership agreement.
What does “damaged goods” mean?
Goods that are broken or spoiled.
What do we call the money that remains after a business pays all its costs?
Profit
What do we call costs directly related to producing a product?
Direct costs.
What is the difference between profit and loss?
Profit means a business earns more money than it spends. Loss means it spends more money than it earns.
What do we call money that a person puts into a business to help it grow?
Investment
What do we call a set of rules or plans followed by a company?
Policy
What does “opposite” mean when giving directions?
On the other side, facing something.
What do we call costs that cannot be directly linked to one specific product?
Indirect costs.
What is the legal document that explains the rights and responsibilities of business partners called?
A partnership agreement.
One partner does all the work, while the other does almost nothing. Which business idiom describes what the second partner should do?
Pull your weight
What does RMA stand for?
Return Merchandise Authorisation.
What does “accessories” mean? Give one example.
Extra items used with something, such as a phone case for a phone.
What do we call the general costs of running a business, such as rent, electricity, and insurance?
Overheads