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15
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Explain a running cost vs a start up cost
Running cost = a payment/expense that is regularly paid to run the business. Start up cost = a cost we pay once to help set up business
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15
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A document that is signed to confirm receipt of the items
Delivery note
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What is a direct debit
Used to set up monthly payments that are regular, the amount can change but once set up this is automatically taken from the bank account.
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15
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What is the disadvantage of allowing users to pay via credit card
The business must first buy the card machine, this is a cost / The business also need to have a trained member of staff to run it which is also a cost
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15
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Give an example of one of the 5 elements of the Promotional Mix
Advertising. Public relations or publicity. Sales promotion. Direct marketing. Personal selling.
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lifesaver
Give 15 points!
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star
Double points!
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gift
Win 20 points!
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banana
Go to last place!
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Give an advantage of allowing customers to use online payment apps
Convenient for customer, safer than handling cash, easy to set up for customer,
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seesaw
Swap points!
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magnet
Take 15 points!
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shark
Other team loses 10 points!
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thief
Give points!
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25
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thief
Give points!
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25
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rocket
Go to first place!
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shark
Other team loses 10 points!
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thief
Give points!
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25
15
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Borrowing money from another business
Peer to peer lending
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Turnover - Cost of sales =
Gross Profit Margin
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15
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The break even point is
Total Costs is equal to Total Revenue
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Give an advantage of having correct statement of accounts
To ensure that the business has charged correct amounts, has not undercharged, is able to see any adjustments that need correcting.
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15
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The financial document that confirms that a payment has been made
Receipt
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heart
Other team wins 25 points!
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rocket
Go to first place!
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fairy
Take points!
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25
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baam
Lose 10 points!
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The term that describes the cost to the business in order to create its product/service
Cost of sales
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