BTEC BUSINESS UNIT 3 FINANCE REVISION EXAM(ACTUAL EXAM) QUESTIONS AND ANSWERS LATEST 2024 – 2025 GOOD SCORE IS GUARANTEED GRADE A+

BTEC BUSINESS UNIT 3 FINANCE REVISION
EXAM(ACTUAL EXAM) QUESTIONS AND
ANSWERS LATEST 2024 – 2025 GOOD
SCORE IS GUARANTEED GRADE A+




Straight line depreciation - ANSWERS-A constant amount of
depreciation is subtracted from the value of the asset each year


Reducing balance depreciation - ANSWERS-Reducing the value
by a certain percentage, making depreciation less each year


Cheque - ANSWERS-A written instruction to your bank to pay a
sum of money to another person from your current account


Electronic transfer - ANSWERS-The transfer of funds from one
account to another via the internet or telephone

, Direct debit - ANSWERS-An electronic payment out of an
account. The amount and frequency of a direct debit payment
can vary




Cash - ANSWERS-Money in the form of bills or coins


Debit card - ANSWERS-A card used to withdraw money from a
bank account


Credit card - ANSWERS-A card authorizing the holder to buy
goods and services that can be paid for later.




Standing order - ANSWERS-n. an instruction to a bank to make
regular payments


Contactless card - ANSWERS-Cards containing antennae allow
money to be transferred when the card touches a contactless
terminal