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Examen
BTEC Business Exploring Test Questions And Verified Answers 2024.
EconomyAnswer - The state of a country of goods and services. PartnershipAnswer - Comprising two or more people who set up in business together and share all profits and losses. LiabilityAnswer - An obligation of a company, or amounts owed to leaders and suppliers. FTSEAnswer - The financial times stock exchange RevenueAnswer - The income received by a business for selling its products and services. Market forcesAnswer - Factors created by the economy for the dem...
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BTEC Business Midterm Exam Questions With Correct Solutions 2024.
Financial Institution - Answer A business that provides financial services to individuals or businesses Bank of England - Answer The central bank for the UK. Its role is to monitor the banking system and to be a banker to the banks. It is responsible for setting interest rates in the UK. Bank - Answer an institution for receiving, keeping, and lending money Building societies - Answer a financial organization which pays interest on investments by its members and lends capital fo...
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Btec Business -Statement Of Financial Position Exam And Verified Solutions 2024
What is a balance sheet? - Answer a snapshot of the firm's assets and liabilities at a given point in time, this is not always accurate but is an overview of how the business is performing. This is a legal requirement to have a business execute these documents and for the business to understand how its performing. Assets - Answer what the business owns, such as land or buildings. Fixed Assets? - Answer Long-term assets that are relatively permanent such as land, buildings, or equipm...
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BTEC Business Comprehensive Exam Fully Solved 100% 2024.
Methods of payment - Answer Cash, Credit/debit card; Standing orders; Direct debits; Cheque Cheque - Answer a written order directing a bank to pay money Give 2 advantages and 2 disadvantages of using a cheque as a method of payment - Answer Advantages - low risk form of payment as the cheque can only be cashed by the named payee - Widely accepted for face- to face or postal transactions Disadvantages - viewed as old fashioned - easy to make errors when writing the cheque wh...
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BTEC Business Finance Comprehensive Exam Well Answered 2024.
Cash - Answer Money in the form of bills or coins Debit card - Answer A card used to withdraw money from a bank account Credit card - Answer A card authorizing the holder to buy goods and services that can be paid for later. Cheque - Answer A written instruction to your bank to pay a sum of money to another person from your current account Electronic transfer - Answer The transfer of funds from one account to another via the internet or telephone Direct debit - Answer ...
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BTEC Business Formulas Study Guide Exam Fully Solved 100% 2024.
Net Cash Flow - Answer Total inflows - total outflows Closing balance - Answer Opening balance + net cash flow Sales revenue - Answer price x quantity sold Variable costs - Answer cost per unit x quantity made Total costs - Answer fixed costs + variable costs Profit - Answer sales revenue - total costs Break even point - Answer Fixed costs / contribution per unit Contribution per unit - Answer Selling price - variable cost per unit Total contributi...
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BTEC BUSINESS License Exam And Complete Verified Answers 2024.
Business - Answer An organisation or economic system where goods & services are exchanged for money. Private sector - Answer the part of the economy that involves the transactions of individuals and businesses Public sector - Answer the part of the economy that is controlled by the government Not for profit sector - Answer A business dedicated to furthering a particular social cause or advocation for a shared point of view Sole trader - Answer A business in which one p...
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BTEC Business Midterm Unit Exam And Actual Complete Answers 2024.
what are the 6 types of personal borrowing? - Answer mortgages, hire purchase, payday loans, overdraft, personal loans, credit cards personal loan - Answer gives you the ability to borrow a set amount of money, normally for a specific purpose, to be repaid in regular instalments. payday loan - Answer short term source of finance used to bridge the gaps between now and next receiving a wage credit card - Answer goods are paid for by card and can be paid for either at the end ...
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Btec Business Personal Finance Saving And Investment Actual Exam And Answers Rated A+ 2024.
Premium bonds - explanation Answer - A government scheme that allows individuals to save up to a set amount by buying bonds. The bond holder does not receive interest on their savings but each bond is placed into a regular draw for cash prizes Premium bonds - advantages Answer - Can win substantially more than could be earned in interest. Can be easily withdrawn with no loss or penalty. Premium bonds - disadvantages Answer - No monthly interest payments and no guarantee of any ret...
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BTEC Business Post Exam Questions With All Correct Answers 2024.
Culture - Answer The style and ways things are done within a company based on its values, beliefs and attitudes Vision, mission and values - Answer A business will have an ideal view of what it wants to achieve and how it wants to achieve it Management practices - Answer The business culture influences how the organisation is managed Policies and procedures - Answer The day-to--day decisions and actives of an organisation will reflect the business culture Management style...
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BTEC Business Unit Exam With Solved Solutions 2024.
price x amount sold - Answer revenue formula revenue - total costs - Answer profit formula variable costs + fixed costs - Answer total costs inflow - outflows - Answer net cash flow formula net cash flow + opening balance - Answer closing balance formula predicted output - break even point - Answer margin of safety formula gross profit - expenditure - Answer net profit formula revenue(sales) - cost of sales - Answer gross profit formula cost per unit x out...
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Btec Business Assessement Exam With Complete Solutions Graded A+ 2024
Breakeven - Answer When revenue and expenditure are the same. there is no profit or loss variable costs - Answer raw materials, change as output increases margin of safety - Answer is the amount by which sales would have to fall before the break-even point is reached total costs - Answer fixed costs plus variable costs break-even point - Answer when a business has made enough money through product sales to cover the cost of making the product selling price - Answer ...
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Business BTEC Final Exam Well Answered Graded A+ 2024
marketing campaign - Answer A specific, defined series of activities used to promote a new or changed product or service of a comapany marketing strategy - Answer a company's plan that identifies how it will use marketing to achieve its goals campaign rationale - Answer Reasoning behind the campaign. Using different marketing strategies to understand market needs and satisfy them demand - Answer The amount of service or product that the consumer is willing to buy Antic...
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Business BTEC Latest Exam Fully Solved 2024.
Main functions of money - Answer 1. unit of account- (you exchange money for an equivalent value of goods) 2. means of exchange- (buy, sell or trade) 3. store of value- (it can be stored e.g. banks) 4. legal tender- (national currency of a country an official method of payment) Factors influencing your view on money - Answer 1. personal attitudes- towards risk and reward 2. life stages- your financial priories and needs 3. culture- religious belief and ethical principles 4. life...
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Business Btec Personal Finance Actual Exam With Verified Solutions 2024.
Functions and role of money - Answer Money flowing in and out- it comes in your account and money comes out your account store of value - Answer It allows us to use it in the future as it keeps its value Legal tender - Answer It is legally recognized form of payment- old £1 getting rid of Role of money - Answer is affected by a wide number of factors. individuals may change their attitude to money based on their situation they find themselves in Personal attitudes - Answ...
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Business BTEC Pro Final Exam With Correct Complete Solutions 2024.
Internal sources of business finance - Answer 1. Retained profit 2. Net current assets 3. Sale of assets External sources of business finance - Answer 1. Owner's capital 2. Loans 3. Crowd funding 4. Mortgage 5. Venture capital 6. Debt factoring 7. Hire purchase 8. Leasing 9. Trade credit 10. Grants 11. Donations 12. Peer to peer lending 13. Invoice discounting What is retained profit? - Answer Profit that can be taken out of the business or reinvested in it, by the ow...
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Business BTEC Study Guide Exam Well Answered 100% 2024.
What is statement of comprehensive income?? - Answer It is a financial report which records sales revenue, expenses, how much profit and loss a business made Purpose and use of the statement of comprehensive income - Answer - accurate calculation of the profit and loss a business made - records sales, costs and profit over a period of time (usually a yr.) What are cost of sales? - Answer These are direct costs attributable to the production of the goods sold in a company Cost ...
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Business BTEC Unit 3 - License Exam And Complete Answers 2024.
What is the Bank of England? - Answer It's the UK's central bank. Advantages of the Bank of England - Answer - responsible for UK's financial stability - interest rate designed to achieve stable economy Disadvantages of the Bank of England - Answer - increase in interest leads to expensive borrowing - members of public cannot access it What is a bank? - Answer It is a financial institution licensed to receive deposits and make loans (owned by shareholders). Advantages of...
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Personal and Business Finance Prep Exam With All Correct Answers 2024.
Unit of Account - Answer It allows us to place a monetary value on goods and services. Means of Exchange - Answer It allows us to trade. Store of Value - Answer It allows us to use it in the future as it retains its value. Legal Tender - Answer It is a legally recognized form of payment. Interest Rate - Answer The proportion of an amount that is charged as interest to the borrower. Debt - Answer Money owed. Credit Rating - Answer A score given to individual...
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BTEC Business Unit 3: C, D, E & F - Business Finance Exam With Complete Solution 2024
BTEC Business Unit 3: C, D, E & F - Business Finance Exam With Complete Solution 2024Running Costs - correct answer-Items a business pays for on a regular basis. Fixed Costs - correct answer-Costs that remain constant even if output changes Variable Costs - correct answer-Costs that change depending on production levels Formula of Variable costs - correct answer-cost per unit x number made = Direct Costs - correct answer-Expenses that directly relate to making a product Indirect C...
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