©THEBRIGHT EXAM SOLUTIONS
11/8/2024 12:08 PM
Business Btec Unit 3 - business Finance Exam
Study Guide.
Savings - answer✔placing money in a secure place so that it grows in value ad can be used in the future
investment - answer✔speculative commitment to a business venture in the hope that it generate a
financial reward in the future.
expenditure - answer✔the amount of money you need to cover all your expenses/ outgoings e.g. your
mortgage and bills
Shareholders - answer✔someone who invested in a company in return for equality i.e. share of the
business
(HMRC) Her Majesty's Revenue and Customs - answer✔is a non-ministerial department of the UK
government responsible for the collection of tax
Fraud - answer✔Is a criminal deception intended to result in financial or personal gain
Profit - answer✔Is a financial gain, the difference between the amount earned and the amount spent
Loss - answer✔Is the amount of money lost in a business or organization
Gross profit - answer✔a company's total revenue minus the total revenue.
Sales Revenue - answer✔Is the income from sales from goods and services, minus the cost associated
with things returned and undelivered merchandise.
Net profit - answer✔Is the actual profit after the working expenses not included in the calculation of
gross profit have been paid
Trade payables - answer✔Is the amount billed to the company by the suppliers for the goods delivered
Trade receivables - answer✔Is the amounts billed by a business to its customers when it's delivered
goods or service to them
Capital income - answer✔the money invested by the owners or other investors that is used to set up a
business or buy additional equipment. It tends to be used to buy things that will stay in the business for
the medium-to-long period of time.
11/8/2024 12:08 PM
Business Btec Unit 3 - business Finance Exam
Study Guide.
Savings - answer✔placing money in a secure place so that it grows in value ad can be used in the future
investment - answer✔speculative commitment to a business venture in the hope that it generate a
financial reward in the future.
expenditure - answer✔the amount of money you need to cover all your expenses/ outgoings e.g. your
mortgage and bills
Shareholders - answer✔someone who invested in a company in return for equality i.e. share of the
business
(HMRC) Her Majesty's Revenue and Customs - answer✔is a non-ministerial department of the UK
government responsible for the collection of tax
Fraud - answer✔Is a criminal deception intended to result in financial or personal gain
Profit - answer✔Is a financial gain, the difference between the amount earned and the amount spent
Loss - answer✔Is the amount of money lost in a business or organization
Gross profit - answer✔a company's total revenue minus the total revenue.
Sales Revenue - answer✔Is the income from sales from goods and services, minus the cost associated
with things returned and undelivered merchandise.
Net profit - answer✔Is the actual profit after the working expenses not included in the calculation of
gross profit have been paid
Trade payables - answer✔Is the amount billed to the company by the suppliers for the goods delivered
Trade receivables - answer✔Is the amounts billed by a business to its customers when it's delivered
goods or service to them
Capital income - answer✔the money invested by the owners or other investors that is used to set up a
business or buy additional equipment. It tends to be used to buy things that will stay in the business for
the medium-to-long period of time.
