BUSINESS UNIT 17 VERIFIED SOLUTIONS
2025/2026
Protocol - ANS-Procedures or rules that must be followed
Line manager - ANS-The superior to whom an employee reports; usually this is the person directly above
the employee on an organization chart.
Embezzlement - ANS-Theft by an employee of assets that belong to the employer; this may include
money, stock and stationary.
Plagiarism - ANS-The practice of taking someone else's work or ideas and passing them off as one's own.
Payment terms - ANS-When payment should be made by the buyer/customer to the supplier.
Budget - ANS-Planned income and expenditure over a period of time.
Favorable variance - ANS-Where the actual figure is better than the budgeted figures, e.g. if costs are
lower than budgeted or revenue higher than budgeted.
Adverse variance - ANS-Where the actual figure is worse than the budgeted figures, e.g. if costs are
higher than budgeted or revenue is lower than budgeted.
Leasing - ANS-A method of financing a fixed asset whereby the lessee pays to rent (lease) the asset from
the leaser.
2025/2026
Protocol - ANS-Procedures or rules that must be followed
Line manager - ANS-The superior to whom an employee reports; usually this is the person directly above
the employee on an organization chart.
Embezzlement - ANS-Theft by an employee of assets that belong to the employer; this may include
money, stock and stationary.
Plagiarism - ANS-The practice of taking someone else's work or ideas and passing them off as one's own.
Payment terms - ANS-When payment should be made by the buyer/customer to the supplier.
Budget - ANS-Planned income and expenditure over a period of time.
Favorable variance - ANS-Where the actual figure is better than the budgeted figures, e.g. if costs are
lower than budgeted or revenue higher than budgeted.
Adverse variance - ANS-Where the actual figure is worse than the budgeted figures, e.g. if costs are
higher than budgeted or revenue is lower than budgeted.
Leasing - ANS-A method of financing a fixed asset whereby the lessee pays to rent (lease) the asset from
the leaser.
