Anyway, now Im back on track and thanks to Mary again, haha :D
I went to tutor2u website and did a quiz called 'Costs Revenues and Profits'. Ok, I got 7 out of 10. Now I know that:
- Costs which only change when there is a large change in output are known as Semi-fixed costs.
And.. there are 2 mistakes come from numerical questions...=_=
Secondly, Ive learnt some Business glossary
- Adviser - An external contact of a business who provides support and advise, sometimes for free. Government provides support to small businesses via advisers such as Business Link.
- Bank loan - A fixed amount loan from a bank which is generally used to finance long-term assets. It will have a rate of interest applied to it and a repayment schedule.
- Bank overdraft - Borrowings from a bank on a current account which are payable on demand.
- Best case - A scenario used in cash flow or any other forecasting where the most optimistic assumptions come true.
- Bias - A term used in market research and it is the factor that causes research findings to be unrepresentative of the whole population.
Good night :)
2 comments:
"Costs which only change when there is a change in output is known as Semi-fixed costs"
WRONG
and that is a very bad mistake.
Costs which change with output are VARIABLE.
Costs which change when there IS A LARGE CHANGE IN OUTPUT are semi-fixed costs.
Very careless!!!!!
do not learn the wrong stuff!
........Yes I have went back to the website and checked it again = =
i think maybe it's because i was tired... ha........
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