Edexcel Ial Business Unit 2 Key Terms Exam Questions & Answers 2024 ( A+ Graded 100% Verified)

Sole trader {Ans: A business owned and run by one person with unlimited liability}Cash flow forecast {Ans: Projections of cash inflows and outflows in future periods, usually months or quarters}Health and safety legislation {Ans: Law that is written with the aim of ensuring that employers are responsible for the health, safety and welfare at work of all their employees, so that accidents should be minimised through training, risk assessment and safe working conditions}Competitiveness {Ans: How effectively an organisation meets the wants and needs of customers relative to others that offer similar goods or services}Profitability {Ans: The ability to generate earnings over and above expenses}Sales revenue {Ans: Income received by a business from its sales of goods or services}