Costs
Budgeting
Break Even
Cash Flow
Assessing Business start-ups
100
Rent
What is an example of a fixed cost?
100
compared to your budget the figures are good
What is favourable variance
100
Fixed costs over contribution
What is the equation for break even
100
Money in and out of the business
What is cash flow
100
personal satisfaction from running a business
What is a reason for being an entrepreneur
200
Raw Material
What is an example of a variable cost
200
compared to your budget the figures are bad
What is adverse variance
200
Selling price per unit - variable cost per unit
What is the equation for contribution
200
banks are more likely to give you a loan
What is a benefit of a cash flow forecast?
200
profit maximisation
What is an objective of a business
300
not variable and not fixed
What are semi-variable costs
300
helps you to plan for the future
What is a budget
300
The difference between what you currently produce and your breakeven
What is margin of safety
300
People who owe you money
What is a debtor
300
Specific
What does the S in SMART stand for
400
Fixed Costs plus Variable Costs
What is total costs
400
Set spending limits for a business
What is an expenditure budget
400
Money that covers fixed costs and profit
What is contribution
400
Cash inflows - Cash outflows
What is net cash flow
400
Change in consumer tastes
What is a risk for businesses
500
£30 per for every chair sold
What is the variable cost per chair
500
employees are given responsibility to manage these
What is a delegated budget?
500
0
What is the profit/loss
500
put in the opening balance of the following month
What is done with the amount in the closing balance of each month
500
planning to fail
What is failing to plan
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