Unit 2 AOS 1

Question 1

External professionals

Answer 1

Marketing advisors
solicitors
bank managers
financial advisors
recruiters
bookeepers
ICT advisors
Accountants
Sales professionals

Question 2

Bank account

Answer 2

Businesses shiould have a seperate business bank acount to keep personal finances and business finances seperate and not in the way of eachother.

Question 3

Define financial control systems

Answer 3

THeyu are the proceeses to hep the buswiness manage, monior and report its financial performance

Question 4

Define auditing

Answer 4

Auditing is assessing a businesses financial info to verify that it is true and accurate

Question 5

business considerations when chossing suppliers

Answer 5

Price, quality, reliability, proximity, csr

Question 6

Policy

Answer 6

Is an establioshed set of broad guidelines to be followed by all employees

Question 7

procedures

Answer 7

Is a series of actions that enable a policy to be put into pracitce

Question 8

Customer databases

Answer 8

A bank of information gathered on existing and potential customers

Question 9

Overseas retailers

Answer 9

Businesses that have expanded their business to sell products overseas