A
Training which takes place within the workplace
What is on the job training?
App which allows you to check your bank balance and pay bills online
What is online banking?
Taking out more than you have in your bank account
What is a bank overdraft?
A meeting between the applicant and the organisation
What is an interview?
The point at which no profit or loss is made
What is break-even?
Costs which change depending on the level of output e.g. electricity
What is variable costs?
Plan of how the business expects to spend and receive money
What is a cash budget?
Document which gives information about the type of person required for the job e.g. skills and qualities
What is a person specification?
Costs which stay the same no matter how many units are produced e.g. rent
What is a fixed cost?
Document which gives information about the job such as tasks and duties
What is a job description?
The document which is drawn up by the employee and will write about their skills, education, work history and experience
What is a CV?
Putting down a deposit on an item and paying for it in monthly instalments
What is hire purchase?
The law which states there should be a minimum hourly rate for employees
What is National Minimum Wage?
Shows how much profit/loss is made
What is an Income Statement?
Profit made after expenses have been subtracted
What is profit for the year?
Shows the profit made from buying and selling goods
What is gross profit?
Where employees can receive a % of the products sale value
What is commission?
Items the business must pay for to keep the business running e.g. rent
What is expenses?
Source of finance which comes with strict conditions
What is a grant?
What is a deficit?
Where employees only carry out tasks in their contract
What is a work-to-rule?
Where employees can choose their start and finishing times but must "core hours"
What is flexi-time?
Software which allows the business to insert formulae to calculate profit
What is a spreadsheet?
When employees work their contracted hours over fewer days e.g. working 4 days instead of 5
What is condensed hours?
Organisation will observe candidates in a variety of different scenarios and how they work with others
What is an assessment centre?