An open office which is divided into cubicles.

A bank account which can be used to make deposits, withdrawals, cash cheques, pay bill, etc.

Also called Liquid Assets. A company’s cash or assets which can be converted into cash usually within one year, including shares, inventory, etc.

In business, a liability or debt which must be paid within one year from the time of the initial transaction.

A financial ratio which gives an indication of whether or not a company can pay its short-term debts.

An individual, company, etc., who purchases goods and/or services from other individuals, companies, stores, etc.

Describes when a customer prefers to buy a particular brand or type of product, who prefers a particular shop, or who stays with the same company, such as a bank, insurance company, phone company, etc.

The relationship a company has with its customers and the way it deals with them. The department in a company which is responsible for dealing with its customers, for example complaints, etc.

A tax which must be paid on imported, and sometimes exported, goods, to raise a country’s revenue and to protect domestic industries from cheaper foreign competition.

A group of nations which have agreed to promote free trade, for example, not to charge tax on goods which they trade with one another, and to set taxes for nations which are not members of the group.