Business studies accounting questions and answers

How do you answer 5 mark questions in business studies?

In 5 mark questions you usually have to explain the improtance of a business concept, often in a specific context.
For example, you may need to explain how the better management of both trade payables and trade receivables can improve cash flow.
To secure all 5 marks you will need to effectively explain both factors..

How do you answer questions in business studies?

Business is an economic activity which results in earning profit.
The activities include purchase and production of goods and services for the satisfying the needs of the customers..

How to answer business studies exam questions?

Business is an economic activity which results in earning profit.
The activities include purchase and production of goods and services for the satisfying the needs of the customers..

How to answer GCSE Business Studies exam questions?

Explain

What is a business question answer?

Basic accounting questions focus on topics concerning the financial statements and how transactions are recorded..

What is accounting in business studies?

Point: Attack the question and pinpoint what your overall answer will be, akin to a mini thesis.
Explain: Provide further details that elaborate on your point.
Depending on which directive verb you are asked, this is also where you can start to show a cause and effect (explain) or make a judgement (assess)..

What is basic accounting question?

Accounting is important as it keeps a systematic record of the organization's financial information.
Up-to-date records help users compare current financial information to historical data.
With full, consistent, and accurate records, it enables users to assess the performance of a company over a period of time..

Here are some general accounting questions related to selling your goods or services.