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Exam (elaborations)
BTEC Level 3 Business - Unit 3: Personal and Business Finance: Learning aim B: Explore the personal finance sector- Explanation/features; Advantages; Disadvantages
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---5June 20242023/2024A+
- Bank of England - Type of organisation - Advantages - qualified answers• Responsible 
for protecting the financial stability of the economy as a whole 
• Sets interest rates at a level designed to help achieve a stable economy 
• Lends to banks 
Bank of England - Type of organisation - Disadvantages - qualified answers• Not a bank 
for members of the general public 
• Can raise interest rates making borrowing more expensive 
Banks - Type of organisation - Advantages - qualified answe...
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$13.49 More Info
FUTURELEADER
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Exam (elaborations)
BTEC Level 3 Business: Unit 3 - Personal & Business Finance ALL formulas,100% CORRECT
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---2August 20232023/2024A+
- BTEC Level 3 Business: Unit 3 - Personal & Business Finance ALL formulas 
 
 
Net Cash Flow - CORRECT ANSWER Total Cash Inflow - Total Cash Outflow 
 
Closing Balance - CORRECT ANSWER Opening Balance + Net Cash Flow 
 
Total Revenue - CORRECT ANSWER Selling Price X Quantity Sold 
 
Total Costs - CORRECT ANSWER Fixed Cost + Total Variable Costs 
 
Profit - CORRECT ANSWER Total Revenue - Total Costs 
 
Total Contribution - CORRECT ANSWER Sales Revenue - Total Variable Costs 
 
Contribution (Per Un...
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$10.49 More Info
SuperGrade