
Financial Transactions
Flashcard
•
Science
•
12th Grade
•
Practice Problem
•
Easy
Thiri Zin
Used 1+ times
FREE Resource
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30 questions
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1.
FLASHCARD QUESTION
Front
Financial responsibility
Back
A sole trader who runs their own company where they are the only employee can do whatever they want with the money they make (as long as it is nothing illegal).
2.
FLASHCARD QUESTION
Front
Owner's role in financial responsibility
Back
The owner should ensure the company's success and stability.
3.
FLASHCARD QUESTION
Front
Enforcement of financial responsibility in the UK
Back
Largely left to the owner or manager to protect their honour and reputation.
4.
FLASHCARD QUESTION
Front
Three areas of financial responsibility
Back
Financial planning, financial controls, financial reporting
5.
FLASHCARD QUESTION
Front
Financial planning
Back
Part of financial responsibility focused on budgeting and forecasting
6.
FLASHCARD QUESTION
Front
Importance of financial planning
Back
Crucial for setting financial goals and strategies
7.
FLASHCARD QUESTION
Front
Importance of financial reporting
Back
Provides transparency and informs stakeholders about financial health
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