Leaving Certificate Business Short Questions

The insured person cannot make a profit from insurance.

Inflation refers to the decrease in the cost of living from one year to the next.

A loading is a reduction on the insurance premium because there is a lower risk of claiming

Avonmore Foods plc and Waterford Foods plc joined forces to form Glanbia plc.

Licence granted by a business to another to sell its products or services in return for a fee

Batch Production is used when making a single, one off, unique product.

Customs Duty is a tax on goods imported from outside the European Union

Apple buys Beats by Dr Dre for $3bn.

When a company’s equity capital is greater than its debt capital it has low gearing.

Is measured by the Consumer Price Index (CPI).

Can be progressive or regressive.

The insured person must declare all material facts about the item being insured.

The cost of borrowing money.

The mutual exchange of something of value in a contract.

Has unlimited liability.

High interest rates stimulate business expansion.

Is carried out to assess if a product has profit potential

The price of one currency expressed in terms of another currency.

A sole trader is an ownership structure that benefits from limited liability.

A P45 is given to employees when their employment is terminated.

ZipYard have expanded by allowing other parties to use the business model in exchange for a fee

A P45 is given to employees when their employment is terminated.

Brainstorming is one of the methods used.

The secondary sector refers to the construction and manufacturing industries.

Industries such as agriculture, fishing and forestry are based on a country’s natural resources

A way of terminating a legal contract

The existence of Tax Credits reduces the amount of Universal Social Charge to be paid.

The insured person must gain from the item’s existence and suffer financially from its loss.

A recession represents an upturn in the economy and an increase in demand.

SuperValu has announced a new partnership with Bank of Ireland for a loyalty programme.

The legal right to enter into a contract.

Corporation Tax is applied to profits made by every business in Ireland.

Shares are quoted/traded on the Stock Exchange.

It involves developing a sample or 'mock-up' of a product

Increase in the value of goods and services produced in an economy from one year to the next

The product is made available to the market.

Corporation Tax is a tax paid on the profits made by a company.

A Cash Flow deficit can be addressed by negotiating a shorter period of credit with debtors.

Democratically controlled and jointly owned by its members.

A remedy for breach of contract.

Some contracts must be in writing to be legally valid.

Is measured by the live register.

A unique selling point (USP) is identified.

Owned, financed and controlled by the Government

Applies if an item is under-insured and there is a partial loss.

Indigenous firms are foreign owned firms located in Ireland.

Capital Acquisitions Tax is a tax on the profits made on the sale of assets.

Applies if item is insured against the same risk with more than one insurance company.

Decrease in unemployment results in an increase in PAYE revenue for the Government.

RTFQ stands for:

Once compensation has been paid any legal right to the item recovered passes to the insurer.