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Questions and Answers
What is the term for a series of actions designed to achieve a result?
What is the term for a series of actions designed to achieve a result?
Which term describes the action of collecting funds from multiple individuals for a project?
Which term describes the action of collecting funds from multiple individuals for a project?
What is the term for money borrowed that must be repaid, often with interest?
What is the term for money borrowed that must be repaid, often with interest?
What is the term given to aspiring or beginner businesspeople?
What is the term given to aspiring or beginner businesspeople?
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Which of these describes individuals who are interested in providing capital for a project?
Which of these describes individuals who are interested in providing capital for a project?
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What is the term for ownership in a company, often represented by stock?
What is the term for ownership in a company, often represented by stock?
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What are the profits distributed to shareholders known as?
What are the profits distributed to shareholders known as?
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Which term best describes predictions about future financial performance?
Which term best describes predictions about future financial performance?
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What is the term for goods that are created by hand without the use of machinery?
What is the term for goods that are created by hand without the use of machinery?
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What is the term for people who move from place to place without a permanent home?
What is the term for people who move from place to place without a permanent home?
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Which term describes deceptive actions carried out for personal gain?
Which term describes deceptive actions carried out for personal gain?
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What does 'encrypt data' mean in the context of online security?
What does 'encrypt data' mean in the context of online security?
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In a decision-making context, what does 'democratic' primarily signify?
In a decision-making context, what does 'democratic' primarily signify?
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Which term describes a situation where there is a general agreement among a group?
Which term describes a situation where there is a general agreement among a group?
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If a workplace is described as 'open-plan', what does it typically mean?
If a workplace is described as 'open-plan', what does it typically mean?
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What is implied when a product or service is described as 'state-of-the-art'?
What is implied when a product or service is described as 'state-of-the-art'?
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In the context of new ideas, what does a 'brainchild' refer to?
In the context of new ideas, what does a 'brainchild' refer to?
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What does the term 'revolutionary' mean when describing change?
What does the term 'revolutionary' mean when describing change?
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What does 'CEO' stand for in a business context?
What does 'CEO' stand for in a business context?
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When referring to an issue or defect, what does 'fault' primarily describe?
When referring to an issue or defect, what does 'fault' primarily describe?
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In a work environment, what does 'punctuality' primarily relate to?
In a work environment, what does 'punctuality' primarily relate to?
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What is 'green appeal' primarily about?
What is 'green appeal' primarily about?
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What does the term 'excursion' typically refer to?
What does the term 'excursion' typically refer to?
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In the context of online activities, what does it mean if something is 'compromised'?
In the context of online activities, what does it mean if something is 'compromised'?
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In the workplace, what does 'turnover' generally refer to?
In the workplace, what does 'turnover' generally refer to?
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Study Notes
Business Processes and Units
- Unit 1: A series of actions to achieve a result is called a process. Processes can include "picking out," "dropping off," "choosing something," "making something out of something," "cutting down on something," collecting, establishing, creating, registering, or reducing something.
- Unit 2: Collecting funds from multiple people for a project is crowdfunding.
- Unit 2: Borrowed money with interest is a loan.
- Unit 2: Units of company ownership are often represented by shares.
- Unit 2: Ownership in a company is equity.
- Unit 2: The fee charged for a service is a commission.
- Unit 2: Aspiring or beginner businesspeople are budding entrepreneurs.
- Unit 2: Owners of a company are represented by shares, and profits paid to those shareholders are dividends.
- Unit 2: People interested in funding a project are potential investors.
- Unit 2: Predictions about future financial performance are called financial forecasts.
- Unit 3: Items created by hand, without machinery, are handmade.
- Unit 3: Intermediaries between producers and buyers are middlemen.
- Unit 3: Goods transported by ship, truck, or other means are referred to as a shipment.
- Unit 3: Stock of goods available is inventory.
- Unit 3: Space for displaying products is a showroom.
- Unit 3: The starting point or source of something is its origin.
- Unit 3: Monitoring or recording something is keeping track of something.
- Unit 3: A large truck with a trailer is an articulated lorry.
- Unit 3: Malicious software causing harm to systems is malware.
- Unit 4: General agreement among a group is consensus.
- Unit 4: A situation of hostility or argument is confrontation.
- Unit 4: A hostile or argumentative situation, is confrontation.
- Unit 4: Arranging by levels of importance is prioritizing.
- Unit 4: Arranging tasks by importance would be prioritizing.
- Unit 4: People deciding things by mutual agreement are compromising.
- Unit 4: Refusing a proposal or suggestion is rejecting an offer.
- Unit 4: A set of rules, or criteria is regulations.
- Unit 4: The use of advanced technology is described as hi-tech.
- Unit 4: Traditional is old-fashioned.
Specific Business Concepts and Units
- Unit 5: State-of-the-art, fully equipped, spacious, and open-plan describe a place.
- Unit 5: A place for food service is a canteen.
- Unit 5: Buildings for storing goods are warehouses.
- Unit 5: A room for a presentation is a presentation suite.
- Unit 5: Advanced or modern is futuristic.
- Unit 5: Comfortable is without stress, pressure, or worry.
- Unit 6: A creative idea or invention is a brainchild.
- Unit 6: Making significant changes is revolutionizing.
- Unit 6: Advanced and complex things are sophisticated.
- Unit 6: Good and dependable are reliable.
- Unit 6: Energetic and changing is dynamic.
- Unit 6: Modern and current are up-to-date.
- Unit 6: Something that causes change is a catalyst.
- Unit 6: That which blocks progress is an obstacle.
Employee and Business Practices and Units
- Unit 7: The CEO, or chief executive officer of a company is the top leader of the company.
- Unit 7: A company or person who manufactures goods is called a manufacturer.
- Unit 7: A failure of a system or process is a breakdown.
- Unit 7: Non-functioning or faulty is defective.
- Unit 7: Money returned for a poor or unwanted product is a refund.
- Unit 7: Harm to something is damage, Physical harm is injury.
- Unit 7: To fix a problem is to resolve, a failure is a breakdown.
- Unit 7: Explaining a lack of understanding is a misunderstanding.
- Unit 7: Information sharing in a company is Internal Communications.
- Unit 7: A flaw or imperfection is a defect.
- Unit 7: An expression of dissatisfaction is a complaint.
- Unit 8: Belief in one’s abilities is Enthusiasm.
- Unit 8: Adaptations to change is flexible.
- Unit 8: Putting in a lot of effort and diligence is hard-working.
- Unit 8: The ability to adapt to change is flexibility.
- Unit 8: Trustworthy people are dependable.
Environmental and Business Services Units
- Unit 8: Legal rules or laws are legislation.
- Unit 9: People who represent an organization are delegates.
- Unit 9: A large hall for events or performances is a venue.
- Unit 9: Facilities are building or equipment to support a purpose.
- Unit 9: A journey or trip is an excursion, or sightseeing.
- Unit 9: Laws made by government are legislation.
- Unit 9: Rules set by authorities are regulations.
- Unit 9: Legal authority over a region is jurisdiction.
- Unit 9: A short trip for leisure or study is an excursion.
Digital and Online Activities and Units
- Unit 10: Illegal online activity is cybercrime.
- Unit 10: Illegal activities conducted online are cybercrime.
- Unit 10: Legal online activity is cybercrime and security firm.
- Unit 10: Measures to protect online data is internet security.
- Unit 10: A location for events is a venue.
- Unit 10: Sharing information in an organization is called internal communications.
- Unit 10: To improve a system or device is upgrade.
Business Management and Practices and Units
- Unit 11: A Business selling directly to customers is a retailer.
- Unit 11: Customers' negative feelings about a business is a complaint.
- Unit 11: How something should happen is expressed as an expectation.
- Unit 11: Flexible working hours are flextime.
- Unit 11: An organizational structure chart is an organogram.
- Unit 12: Receiving salary during leave is full pay.
- Unit 12: Organised efforts to achieve a goal is campaign
- Unit 12: A person acting on behalf of others is a representative.
- Unit 12: Legal rules for work are employment law.
- Unit 12: Helping those in need is shown as charity.
Planning and Time Management Units
- Unit 13: A booklet with product or service information is a brochure.
- Unit 13: An achievement or event, is a milestone.
- Unit 13: A plan of activities over time is a schedule.
- Unit 13: Possible situation or sequence of events is a scenario.
- Unit 13: A booklet with product or service information is a brochure.
- Unit 13: A plan of activities over time is a schedule.
- Unit 13: To confirm something is certain is to confirm.
- Unit 13: A sequence of events is called a scenario.
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Description
Test your knowledge on essential business processes and units. This quiz covers concepts such as equity, loans, crowdfunding, and key business terminology. Get ready to evaluate your understanding of the foundational aspects of business!
