Business Btec Unit 3 - business finance Exam Questions and Answers
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Module
Business Btec Unit 3
Institution
Business Btec Unit 3
Business Btec Unit 3 - business finance Exam Questions and Answers
Savings - Answersplacing money in a secure place so that it grows in value ad can be used in the future
investment - Answersspeculative commitment to a business venture in the hope that it generate a financial reward in the futu...
Business Btec Unit 3 - business finance Exam
Questions and Answers
Savings - Answers✓✓placing money in a secure place so that it grows in value ad can be used in
the future
investment - Answers✓✓speculative commitment to a business venture in the hope that it
generate a financial reward in the future.
expenditure - Answers✓✓the amount of money you need to cover all your expenses/ outgoings
e.g. your mortgage and bills
Shareholders - Answers✓✓someone who invested in a company in return for equality i.e. share
of the business
(HMRC) Her Majesty's Revenue and Customs - Answers✓✓is a non-ministerial department of
the UK government responsible for the collection of tax
Fraud - Answers✓✓Is a criminal deception intended to result in financial or personal gain
Profit - Answers✓✓Is a financial gain, the difference between the amount earned and the amount
spent
Loss - Answers✓✓Is the amount of money lost in a business or organization
Gross profit - Answers✓✓a company's total revenue minus the total revenue.
Sales Revenue - Answers✓✓Is the income from sales from goods and services, minus the cost
associated with things returned and undelivered merchandise.
Net profit - Answers✓✓Is the actual profit after the working expenses not included in the
calculation of gross profit have been paid
Trade payables - Answers✓✓Is the amount billed to the company by the suppliers for the goods
delivered
Trade receivables - Answers✓✓Is the amounts billed by a business to its customers when it's
delivered goods or service to them
Capital income - Answers✓✓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.
Fixed assets - Answers✓✓Items of value owned by a business that are really likely to stay in
business for more than one year. For example machinery. Also known as non-current assets.
Revenue income - Answers✓✓the money that comes into the business from performing its day-
to-day function selling goods and services goods or providing a service. The nature of the
revenue income depends on the activities that the business does to bring in money.
expenditure - Answers✓✓money spent by the business
Capital expenditure - Answers✓✓Purchase of assets
Items last for more than a year
Revenue expenditure - Answers✓✓Is spending day by day or regular basis.
These are the expenses incurred by a business
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