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Running A Business Flashcards | StudBud
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Running A Business
Running A Business
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1
A creditor is a person/business that
has money
is owed money
needs money
owes money
2
Coca Cola is a
Public Company
Private Company
Partnership
Sole Trader
3
Goodwill in business terms is
the value of suppliers in a business
the value of a business' reputation
the value of the CEO in a business
the value of staff in a business
4
Two skills required by entrepreneurs include
laziness and disorganisation
risk taking and motivation to Succeed
poor health and fear of failure
isolation and power hungry
5
A business is often run by
an Entrepreneur
an Editor
an Employee
an Employer
6
Revenue is
income earned from sales
all income earned by a business
income earned from expenses
income earned by the CEO of a business
7
The Competitive Advantage a business has
is short term
gives it a disadvantage over other businesses
is not important for a business
gives it the edge over other businesses
8
Owner's Equity is
the value of the business to customers.
the value of the business to the sharemarket
the value of the business to suppliers.
the value of the business to the owners.
9
An advantage of purchasing a Franchise is
profits must be shared with the franchisor
the franchisee feels like an employee
the investment risk may be lower
a service fee is charged by the Franchisor for advice
10
A sole trader is
a business run by friends
a business owned and operated by one person
a business run by a family
a business that has limited liability
