Business terminology quiz
“Language is power”
Identify the correct terms
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1.
2.
3.
4.
5.
variable interest rate
goodwill
mark-up
stock
petty cash
hire-purchase
budget
scam
default
refinancing
disbursements
excise duty
bad debt
credit limit
interest rate
What is money owed to you that is unlikely to be paid to you in the foreseeable future called?
What is a listing of planned revenue and expenditure for a given period called?
What do we call a dollar amount that cannot be exceeded on a credit card or the maximum amount for a loan?
What is a failure to pay a loan or other debt obligation called?
What is the name of the indirect tax levied on certain types of goods produced or manufactured in Australia
including petrol, alcohol, tobacco and coal?
6. Which intangible asset represents the value of business’s reputation?
7. What do we call a percentage used to calculate the cost of borrowing money or the amount you will earn?
8. What do we call cash for the purposes of small miscellaneous purchases such as postage?
9. What do we call the practice whereby a new loan is taken out to pay off an existing one?
10. What do we call the actual goods or materials a business currently has on hand?
11. What do we call it when the interest rate of a loan changes with market conditions for the duration of the loan?
12. What do we call a deliberate and targeted deception designed to obtain money or information unlawfully?
13. What do we call the amount added to the cost price of goods, to help determine a selling price?
14. What do we call a type of finance contract where a good is purchased through an initial deposit and then rented
while the good is paid off in instalments plus interest charges?
15. What do we call money that is paid out by a business?
Quiz answers
1. Bad debt
2. Budget
3. Credit limit
4. Default
5. Excise duty
6.Goodwill
7.Interest rate
8.Petty cash
9.Refinancing
10. Stock
11.Variable interest rate
12. Scam
13.Mark-up
14.Hire-purchase
15.Disbursements