business

• what is the consumer law?

  a law that protects consumers from unscrupulous sellers
• what does consumer law state about products?

  they must be satisfactory quality, fit for purpose and as described
• what is procurement?

  the management of purchasing within a business
• what is retained profit?

  money not distributed to owners as proft
• what is trade credit?

  business sells good after agreeing to pay for them at a later date
• what is a share issue?

  new shares sold to raise more money
• what is crowdfunding?


  money donated or invested by sponsors or people invest to become part owners of the business
• what is gross profit?

  sales- cost of sales
• what is net profit?

  gross profit- expenses