Glossary A

• Absenteeism


  employe’s non-attendance at work without good reason
• Acid test ratio


  Ration between liquid assets and current liabilities
• Advertising 


  Paid for communication with consumer which uses printed and visual media. The aim is to inform and persuade consumer to buy a product
• Annual general meeting (ASM)


  A meeting for shareholders that limited companies must hold once every year
• Appreciation


  A currency is said to appreciate if the value of the currency in increases with respect to another currency
• Appropriation account


  Records the distribution of profit after tax ; usually dividends and retained profit
• Assets 


  Resources that are owned by a business
• autocratic leadership 


  A leadership style where the leader makes all the decisions
• Average costs


  the cost of producing a single unit of output