Btecnationalbusiness - from Tutor2you

Describe the role of Citizens Advice bureau?
An organisation that offers advice on important issues both financially and non financially
1 of 12
Explain one reason why individuals, like students should avoid getting themselves into debt?
hile some students get as little as £458 a month from their maintenance loan, and their expenditure far exceeds this
2 of 12
Give two benifits of contactless debit card
1.) fast and easy method of payment, speed transactions especially on the go, secure method of payment that can be easily secured and the contactless cards are embeded with multiple layers of security that can protect you from fraud
3 of 12
Assess the use of payday loans as a form of borrowing? - mention (Advantages and disadvantages)
A pay day loan is a short term source of finance, often it will be used to abridge the gap between those that are about to receive their next income
4 of 12
Break even formulae
selling price - variable cost
5 of 12
proft formulae= contribution per unit x the above break even point from (question 7)
make sure to use formulaes!!!!
6 of 12
profit formulae
profit formula no.2 - Total revenue - total costs
7 of 12
how do you calculate new cost of goods sold in a business during the year?
Beginning Inventory Costs (at the beginning of the year) Plus Additional Inventory Cost (inventory purchased during the year) Minus Ending Inventory (at the end of the year) Equals Cost of Goods Sold
8 of 12
what is the termnet current liabilites?
- a liability is something a busines owes, if it is non-current liabilities this means the business will pay back the amount owed for more than one year examples: Non current liabilities and mortgages and bank loans (for later than 12 months)
9 of 12
capital expenditure is?
this is the non-current asset purchases at the start of the business- and also they are "funds" that are used by the company to upgrade the companies physical assets, such as laptops, company cars e.c.t
10 of 12
why some assets need to be depreciated?
depreciation is an accounting concept used to spread the costs of an asset over its usual life- this account for the fact that non current assets, will over time, lose its "lose its value" due to were and tear
11 of 12
continuation from non current assets
Non current assets are depreciated over time, and will soon need an upgrade in productivity from suppliers
12 of 12

Other cards in this set

Card 2

Front

Explain one reason why individuals, like students should avoid getting themselves into debt?

Back

hile some students get as little as £458 a month from their maintenance loan, and their expenditure far exceeds this

Card 3

Front

Give two benifits of contactless debit card

Back

Preview of the front of card 3

Card 4

Front

Assess the use of payday loans as a form of borrowing? - mention (Advantages and disadvantages)

Back

Preview of the front of card 4

Card 5

Front

Break even formulae

Back

Preview of the front of card 5
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Comments

kingjoseph001

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this is gold, thank you and I know that you got this from the 60-minute mock unit 3 personal finance mock paper but thank you very much, saves me the time.

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