Texas School Of Business
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IB Business and Management SL and HL 
definitions 2023 
above-the-line promotion - Answer-a form of promotion that is undertaken by a business 
by paying for communication with consumers, e.g. advertising 
acid test ratio - Answer-liquid assets - current liabilities 
accountability - Answer-the obligation of an individual to account for his or her activities 
and to disclose results in a transparent way 
adverse variance - Answer-exists when the difference between the budgeted and actual 
fi...
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Texas School Of Business • IB Business and Management SL and HL definitions
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IB Business and Management SL and HL definitions 2023,IB Business and Management SL and HL definitions 2023,IB Business Management topic 1 (for study) 2023,IB Business Management- 1.1 Test Questions And Answers 2023 & IB Business and Management Vocabular • By  Accurate
Distinguish between the shareholder concept and the stakeholder concept. - ANS-a) 
Shareholder Concept: 
An individual (also known as stockholder) that legally owns a share/stock in a public 
corporation. They are also owners of a limited company. They buy shares which 
represent part of a company. 
b) Stakeholder Concept 
The view that businesses and their managers have responsibilities to a wide range of 
groups, not just shareholders. 
Explain why a business might experience lower profits...
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