Unit 13 Business, commercial and fiancial awareness

A customer owes your company money. What is the term for that customer?

• Director

• Creditor

• Shareholder

• Debtor

Your company keeps some money back from its turnover to save for future use. What is this called?

• Profit

• Capital

• Dividend

• Revenue

A customer lives two miles from your company headquarters, what type of customer are they?

• Local customer

• National customer

• Distant customer

• International customer

The acronym TIMWOOD is used to describe ways of avoiding what?

• Staff costs

• Debt

• Tax

• Waste

In the acronym TIMWOOD, the W stands for what?

• Wanting

• Waiting

• Worst

• Wishing

R&D stands for?

• Research and development

• Research and design

• Realisation and design

• Realisation and development

BMW make automobiles. Which of these companies is a main competitor in the automobile market?

• Boeing

• Audi

• Airbus

• Lego

Which of these is a definition of ‘demand’ from the phrase ‘supply and demand’?

• How much of a product is wanted

• How much of a product is wasted

• How much of a product is available

• How much of a product costs to make

A legal term for someone mentioned in a contract is a:

• Consignee

• Party

• Trader

• Trainer

A company is seeking a new supplier of drive belts. They could put this out for what?

• Total option

• Testing

• Trade

• Tender