Odd Important Bits

Question 1

Online market

Answer 1

Physical product that you buy online

Question 2

Digital market

Answer 2

Downloadable goods bought online eg games, apps, files

Question 3

Indirect tax def

Answer 3

Taxes on expenditure/spending
Paid indirectly by supplies of goods or service

Question 4

Direct tax

Answer 4

Taxes on income and profits
Paid director by bearer to tax authorities

Question 5

Direct tax examples

Answer 5

Income tax, National Insurance Tax, Corporation Tax

Question 6

Indirect tax examples

Answer 6

Road tax, tobacco tax, VAT, sugar tax, stamp duty

Question 7

Current Assets def + examples

Answer 7

Assets that can be sold in a year
Stock, cash, debtors

Question 8

Current liabilities def + examples

Answer 8

Liabilities that you owe in a year
Short term loan - overdraft
Creditors

Question 9

Variation in TSA equation

Answer 9

Sales - 3 point moving average