| Question | Answer |
| value of stock a business has sold to its customers | COGS
|
(2)statement of financial performance over a set period | income statement
| the ability of a business to pay its debts as and when they fall due | liquidity
| (3)records movement of cash receipts and cash payments | cash flow statement
| ongoing commitment to excellent | TQM
| name, term, symbol or design that identifies a specific product | brand
| (2)statement of financial position as at a particular point in time | balance sheet
| (2)division of total market into groups of people who share one or more common characteristics | market segmentation
| (3)A=L+OE | the accounting equation
| (2)difference between gross profit and operating and non-operating expenses | net profit
| planning and execution of conception, pricing, promoting and distribution of a good or service | marketing
| (2)also called capital | owners equity
| the part of the business that gets the job done | operations
| (2)reportsthat summarise transactions over a period of time | financial statements
| (2)four P's | marketing mix
| (2)creation of extra value as raw materials are transformed into finished products | value added
| (2)group of customers with similar characteristics | target market
| goods which can be seen and touched | tangibles
| the activity designed to inform, persuade, remind customers about a product | promotion |
