ASBO SFO Exam 2025/2025.
(Answered) 100% Verified.
ASBO
Association School Business Officials. It's an organization involved with school business operations.
Law of Demand
It indicates an inverse relationship between price and quantity demanded.
GAAP
Generally Accepted Accounting Principles. These are standard frameworks of guidelines for financial
accounting.
Project Management
To plan, execute, and oversee projects to achieve specific goals within defined constraints.
Current Ratio
It assesses liquidity by comparing current assets to current liabilities.
SWOT analysis
To analyze internal strengths and weaknesses, and external opportunities and threats.
ROI
Return on Investment. It measures the profitability of an investment.
4 Ps of marketing
Product, Price, Place, Promotion. These are the key elements of a marketing strategy.
Lean Manufacturing
Minimizing waste while maximizing productivity.
CRM
Customer Relationship Management. It refers to systems and strategies used to manage interactions
with customers.
Consideration
It's something of value exchanged between parties.
GDPR penalty
€20 million or 4% of global turnover, whichever is higher.
Health and Safety at Work etc. Act 1974
Regulates health and safety in the UK workplace.
,Intellectual Property
Ideas and creations of the mind protected by law, such as patents, copyrights, and trademarks.
Crown Court
Handles serious criminal cases in the UK.
Employment Rights Act 1996
Protecting employees from unfair dismissal and outlining employee rights.
Sole Proprietorship
Unlimited liability. The owner is personally liable for business debts.
Tort
A civil wrong that causes someone else to suffer loss or harm, leading to legal liability.
Data Protection Act 2018
To protect personal data and ensure privacy rights.
Burden of Proof
Beyond a reasonable doubt. It requires the prosecution to prove the defendant's guilt to a high
standard.
Just-In-Time (JIT) inventory management
An inventory system that aligns raw-material orders with production schedules to reduce inventory
costs.
Total Quality Management (TQM)
Continuous improvement of processes and products through the involvement of all employees.
Bullwhip Effect
Large fluctuations in inventory levels due to demand variability upstream in the supply chain.
Economic Order Quantity (EOQ)
Determining the optimal order quantity that minimizes total inventory costs.
Capacity Planning
To ensure sufficient production resources to meet demand.
Kanban
A scheduling system for lean manufacturing and just-in-time manufacturing.
Flowchart
To visualize the sequence of steps in a process for analysis and improvement.
Business Process Reengineering (BPR)
A strategy for improving the efficiency and effectiveness of business processes.
, Human Resources Management (HRM)
To manage employee-related processes, including recruitment, training, and performance
evaluation.
Supply Chain Manager
To oversee and optimize the flow of goods and services from suppliers to customers.
Return on Equity (ROE)
(Net Income / Shareholder's Equity) x 100.
EBITDA
Earnings Before Interest, Taxes, Depreciation, and Amortization.
Working Capital
The difference between current assets and current liabilities.
Cash Flow Statement
To show the inflows and outflows of cash within a company over a specific period.
Balance Sheet
To display a company's financial position at a specific point in time, including assets, liabilities, and
equity.
Fixed and Variable Costs
Fixed costs remain constant regardless of production levels, while variable costs fluctuate with
production volume.
Depreciation
The allocation of the cost of a tangible asset over its useful life.
Income Statement
To show a company's revenues and expenses over a period, resulting in net profit or loss.
Budget
A financial plan outlining expected revenues and expenditures over a specific period.
Financial Auditing
To examine and verify a company's financial statements for accuracy and compliance with
standards.
Unique Selling Proposition (USP)
A feature or benefit that differentiates a product from its competitors.
Content Marketing
Creating and sharing valuable content to attract and engage a target audience.
(Answered) 100% Verified.
ASBO
Association School Business Officials. It's an organization involved with school business operations.
Law of Demand
It indicates an inverse relationship between price and quantity demanded.
GAAP
Generally Accepted Accounting Principles. These are standard frameworks of guidelines for financial
accounting.
Project Management
To plan, execute, and oversee projects to achieve specific goals within defined constraints.
Current Ratio
It assesses liquidity by comparing current assets to current liabilities.
SWOT analysis
To analyze internal strengths and weaknesses, and external opportunities and threats.
ROI
Return on Investment. It measures the profitability of an investment.
4 Ps of marketing
Product, Price, Place, Promotion. These are the key elements of a marketing strategy.
Lean Manufacturing
Minimizing waste while maximizing productivity.
CRM
Customer Relationship Management. It refers to systems and strategies used to manage interactions
with customers.
Consideration
It's something of value exchanged between parties.
GDPR penalty
€20 million or 4% of global turnover, whichever is higher.
Health and Safety at Work etc. Act 1974
Regulates health and safety in the UK workplace.
,Intellectual Property
Ideas and creations of the mind protected by law, such as patents, copyrights, and trademarks.
Crown Court
Handles serious criminal cases in the UK.
Employment Rights Act 1996
Protecting employees from unfair dismissal and outlining employee rights.
Sole Proprietorship
Unlimited liability. The owner is personally liable for business debts.
Tort
A civil wrong that causes someone else to suffer loss or harm, leading to legal liability.
Data Protection Act 2018
To protect personal data and ensure privacy rights.
Burden of Proof
Beyond a reasonable doubt. It requires the prosecution to prove the defendant's guilt to a high
standard.
Just-In-Time (JIT) inventory management
An inventory system that aligns raw-material orders with production schedules to reduce inventory
costs.
Total Quality Management (TQM)
Continuous improvement of processes and products through the involvement of all employees.
Bullwhip Effect
Large fluctuations in inventory levels due to demand variability upstream in the supply chain.
Economic Order Quantity (EOQ)
Determining the optimal order quantity that minimizes total inventory costs.
Capacity Planning
To ensure sufficient production resources to meet demand.
Kanban
A scheduling system for lean manufacturing and just-in-time manufacturing.
Flowchart
To visualize the sequence of steps in a process for analysis and improvement.
Business Process Reengineering (BPR)
A strategy for improving the efficiency and effectiveness of business processes.
, Human Resources Management (HRM)
To manage employee-related processes, including recruitment, training, and performance
evaluation.
Supply Chain Manager
To oversee and optimize the flow of goods and services from suppliers to customers.
Return on Equity (ROE)
(Net Income / Shareholder's Equity) x 100.
EBITDA
Earnings Before Interest, Taxes, Depreciation, and Amortization.
Working Capital
The difference between current assets and current liabilities.
Cash Flow Statement
To show the inflows and outflows of cash within a company over a specific period.
Balance Sheet
To display a company's financial position at a specific point in time, including assets, liabilities, and
equity.
Fixed and Variable Costs
Fixed costs remain constant regardless of production levels, while variable costs fluctuate with
production volume.
Depreciation
The allocation of the cost of a tangible asset over its useful life.
Income Statement
To show a company's revenues and expenses over a period, resulting in net profit or loss.
Budget
A financial plan outlining expected revenues and expenditures over a specific period.
Financial Auditing
To examine and verify a company's financial statements for accuracy and compliance with
standards.
Unique Selling Proposition (USP)
A feature or benefit that differentiates a product from its competitors.
Content Marketing
Creating and sharing valuable content to attract and engage a target audience.
