BUSINESS STUDIES

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Motivation
The disre to complete a task + meet the needs of the business consistently
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Job Description
Document describing the duties of a worker + his or her status in the organisation
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Person Specification
Profile of the type of person needed for the job - skills + qualitities
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Application Form
Document with personal details
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Curriculum Vitae
A breif list of the main details about a person including name, address, qualifications + experience
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Customer Service
The experience that a customer gets when dealing with a business and that experience meets + exceeds customer needs + expectations
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Repeat Purchase
Orders/sales that occur from customers who have brought the product or service in the past
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National Insurance Contributions
A tax on the earnings of workers; employers' National Insurance contributions are paid wages of their workers; employees and sole traders have to pay National Insurance Contributions on their earnings
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Corporation Tax
A tax on the profits of limited companies - not for sole traders
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Income Tax
A tax on the value of income earned by workers; this includes sole traders who have to pay income tax on their net earnings
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Job Aplicant
A person who shows they would like to be considered for appointment to a particular job with a business
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Value Added Tax
A tax on the value of sales; it is paid by businesses to government - This is at a standard rate of 20%
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HM Revnue & Customs
The government authorities in the UK responible for collecting tax - All businesses register with HMR&C
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Records
Evidence of what has happened in the past, records could be kept in paper form or in computer files
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Unlimited Liability
A legal obligation on the owner of a business to settle (pay off) all debts of the business
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Limited Liability
When shareholders of a company are not personally liable for the debts of company:the most they can lose is the value of their investment in the shares of the company
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Other cards in this set

Card 2

Front

Document describing the duties of a worker + his or her status in the organisation

Back

Job Description

Card 3

Front

Profile of the type of person needed for the job - skills + qualitities

Back

Preview of the back of card 3

Card 4

Front

Document with personal details

Back

Preview of the back of card 4

Card 5

Front

A breif list of the main details about a person including name, address, qualifications + experience

Back

Preview of the back of card 5
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