4B

Question 1

Bank Account

Answer 1

A Bank account is arrangement made with a bank where a business

Question 2

Financial performance

Answer 2

Financial performance is how well a business is able to control its expenses and revenue over a period of time and can be determined through overall profits and losses.

Question 3

Financial control systems

Answer 3

Financial control system are processes and procedures used to direct and monitor a business finances.

Question 4

Business report

Answer 4

Business reports are documents created periodically throughout the year to provide owners and stakeholders a summary of the business’s overall financial performance.

Question 5

Record keeping strategies

Answer 5

are methods used to keep track of the financial transactions of a business over a period of time.