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BTEC Business Exploring Test Questions And Verified Answers 2024.
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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.
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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
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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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