1st Year Business
When income is greater than expenditure.
What is a budget surplus?
Surveys and observations.
Examples of field research?
Tax on goods and services.
What is VAT?
Sales - Cost of sales
How to calculate Gross Profit?
Fruit and cars.
Visible imports for Ireland?
Government body responsible for enforcing consumer protection and competition law in Ireland.
The role of the CCPC?
Paying for the goods in advance of receiving them.
What is CWO?
Provides advice, mentoring and grants to new businesses in Ireland.
Services offered by LEOs?
Long-term item of value to a business.
What is a fixed asset?
What is privatisation?
A company car.
Example of a benefit in kind?
Put opening balance on the credit side of the ACB.
How do you record a bank overdraft at start of month?
Tax on the interest earned on savings.
Define the term 'DIRT'?
Bank overdraft and creditors.
Examples of current liabilities?
America is an example of this economy.
Example of Free market economy?
Where the demand and supply curve meet.
What is the equilibrium?
Rule that applies when you have under-insured something.
What is average clause?
Secret ballot and 1 weeks notice.
Requirements for an official strike?
Assets losing value overtime.
Define 'depreciation'?
Total amount of goods and services produced in a country within 1 year.
What does GDP measure?
Paid per the amount produced.
Piece rate.
Who is an actuary?
Advises the government on implementing new employment law.
A function of the WRC?
2:1
The ideal current ratio?
The bank of 20 EU countries that have adopted the euro.
What is the European Central Bank?