This full unit covers all learning aims for Unit 3: Personal and Business Finance. Preparation for the interview should be researching suitable questions, what to wear, travelling, demeanour etc and the role plays should be as realistic as possible. H.Torecordpaymentofaprepaidexpense. \text{\_\_\_\_\_\_7.} on the net book value at the end of the previous year, It is harder to work out what percentage to use to depreciate over the assets lifetime, Will produce lower profit figures in the early years in the Unit 3 Personal and Business Finance Unit 6 Principles of Management Unit 7 Business Decision Making Grade statistics The grade statistics show the number of learners who completed each qualification each year, and the proportion achieving each grade. A more mundane business, like Aldi, offers more potential. The mark awarded within the band will be decided based on the quality of the answer Z,-lq}r Q Businesses like Coca Cola, Apple, Nike are not good choices for this unit. \text{C. To record payment of an accrued expense.} Unit 3 Jan 2020 Exam - unit 3 personal and business finanace past papers exams questions, Copyright 2023 StudeerSnel B.V., Keizersgracht 424, 1016 GC Amsterdam, KVK: 56829787, BTW: NL852321363B01, Please check the examination details below bef, Public law (Mark Elliot and Robert Thomas), Electric Machinery Fundamentals (Chapman Stephen J. R efer to the guidance on the cover of this they have shown they can do, rather than be penalised for omissions. All the marks on the mark scheme are designed to be awarded. For this mandatory unit, up to four different businesses are required two contrasting businesses for Learning Aims A and B, another business for Learning Aims C and D and a further business for Learning Aim E. Contrasting businesses are to be selected individually by learners. accounting concepts, Prevents understating the expense / overstating profits so \text{A. will need to recalculate the expense each year figure based Where some judgement is required, mark schemes will provi de the principles by The important thing is individual learners have the opportunity to do justice to the unit requirements and produce their own evidence. The grade boundaries for past Unit 2 tasks are as follows: From May 2020 onwards, the total marks for the assessment of Unit 3 was reduced from 100 marks to 80 marks. Refer to the guidance on the cover of Mark Content area A UNIT 3. 2 most common time frames for interest to be compounded? \text{Supplies} & \text{$124,000$} & \text{$87,400$}\\ (DUH1q-}"w|2}> ,T*'+` h9s \text{Total liabilities and stockholders' equity} & \underline{\underline{\$ 4,000,000}} & \underline{\underline{\$ 3,800,000}}\\ \text{Current liabilities:} & \text{ } & \text{ }\\ To get to that point, they should consider two countries where a selected business could operate and think about the external factors which will influence them making this decision. 11 : 0 . within the levels represent the progression of these skills. }\\ GRADE . Xaxie2000. \text{Equipment} & \text{$1,292,000$} & \text{$1,292,000$}\\ -Limited in transactions. It means that the performance and asking/answering of analytical questions can be authenticated by the internal verifier and standards verifier. the consumer may receive more interest/pay lower fees (1), Lower interest rates means paying less interest on existing debt. Meaning may be conveyed but in a non-specialist way; response lacks understanding of relevant inf ormation; any gaps or omissions Because pumping large amounts of water is harder than pumping small amounts, the cost of producing a bottle of water rises as he pumps more. assertions rather than supported by evidence. Torecordreceiptofunearnedrevenue. endobj \text{Interest payable} & \text{0} & \text{$3,800$}\\ \quad & \text{Interest Revenue} \ldots\ldots\ldots & \quad & \text{5,000}\\ BTEC BUSINESS Unit 3: Personal and Business Finance. Evidences the weighing up of competing arguments/pros and \text{Stockholders' equity:} & \text{ } & \text{ }\\ cons in context. Learning Aims C&D look at the external environment and the market in which a business operates. Grade boundaries are the minimum number of marks needed to achieve each grade. %PDF-1.7 % 9 Award one mark for identification of an advantage for the BTEC National Business Unit 3 Resources These fantastic resources are designed to help students maximise their performance in Unit 3 (Personal and Business Finance). Evidences thorough application leading to a balanced analysis endobj Learners need to bring out the contrast in the ways they operate internationally. 1923 0 obj {{navigationJson.popularQualificationtitle}}, {{navigationJson.qualificationcolumnTitle1}}, {{navigationJson.qualificationcolumnTitle2}}, {{navigationJson.qualificationcolumnTitle3}}, Go to the assessment and verification forms, Unit 1: Sample Marked Learner Work for Learning Aim A and B, (Pass) - Exploring Business (Version 1 November 2015), /content/dam/secure/silver/all-uk-and-international/btec-nationals/business/2016/internal-assessment/Sample_Marked_Learner_Work_for_Learning_Aim_A_and_B_Pass_Unit_1_Exploring_Business_Version_1_November_2015.pdf, Unit 1: Sample Marked Learner Work for Learning Aims C and D, (Merit) - Exploring Business (Version 1 July 2016), /content/dam/secure/silver/all-uk-and-international/btec-nationals/business/2016/internal-assessment/Sample_Marked_Learner_Work_for_Learning_Aims_C_and_D_Merit_Unit_1__Exploring_Business_(Version_1_July_2016).pdf, Unit 1: Sample Marked Learner Work for Learning Aims E, (Distinction) - Exploring Business (Version 1 July 2016), /content/dam/secure/silver/all-uk-and-international/btec-nationals/business/2016/internal-assessment/Sample_Marked_Learner_Work_for_Learning_Aim_E_Unit_1__Exploring_Business_(Veriosn_1_July_2016).pdf, Preparing learners for external assessment, Understanding BTEC External Assessment Mark Schemes, (Teaching Services team | Mon-Fri, 9am - 5pm GMT), {{translateWord(navigationJson.covidTitle)}}, {{translateWord(navigationJson.subjectTitle)}}, {{translateWord(navigationJson.qualificationTitle)}}, {{navigationJson.qualificationcolumn1CTAtext}}, {{navigationJson.qualificationcolumn2CTAtext}}, {{navigationJson.qualificationcolumn3CTAtext}}, {{translateWord(navigationJson.supportTitle)}}, {{translateWord(navigationJson.aboutusTitle)}}, {{translateWord(navigationJson.contactusTitle)}}, Unit 2 Developing a Marketing Campaign (31489H), Unit 3 Personal and Business Finance (31463H), BTEC National Certificate in Business (180 GLH), BTEC National Extended Certificate in Business (360 GLH), BTEC National Foundation Diploma in Business (510 GLH), BTEC National Diploma in Business (720 GLH), BTEC National Extended Diploma in Business (1080 GLH), Join the BTEC Business and Enterprise Facebook group. ______1.______2.______3.______4.______5.______6.______7.______8.______9.______10.______11.______12.InterestExpenseInterestPayableDepreciationExpenseAccumulatedDepreciationUnearnedProfessionalFeesProfessionalFeesEarnedInsuranceExpensePrepaidInsuranceSalariesPayableCashPrepaidRentCashSalariesExpenseSalariesPayableInterestReceivableInterestRevenueCashAccountsReceivable(fromconsulting)CashUnearnedProfessionalFeesCashInterestReceivableRentExpensePrepaidRent1,0004,0003,0004,2001,4004,5006,0005,0009,0007,5002,0002,0001,0004,0003,0004,2001,4004,5006,0005,0009,0007,5002,0002,000. Provides little evidence of application and links between relevant in response to the assessment focus/objective and will be modified according to how Mark Scheme (Results) January Enterprise and Entrepreneurship Unit 3 Personal and Business Finance (31463 H) BTEC Level 3 National in Business Mark Scheme (Results) January Enterprise and Entrepreneurship Unit 3 Personal an. Torecordthisperiodsearningofpriorunearnedrevenue. Learners can use their time with Part A to annotate the research pack and to prepare up to two sides of A4 notes to take into the Part B supervised assessment. FANTASYFOOTBALLBalanceSheetsDecember3120182017AssetsCurrentassets:Cash$208,000$262,200Accountsreceivable856,000999,400Inventory1,900,0001,349,000Supplies124,00087,400Long-termassets:Equipment1,292,0001,292,000Less:Accumulateddepreciation(380,000)(190,000)Totalassets$4,000,000$3,800,000LiabilitiesandStockholdersEquityCurrentliabilities:Accountspayable$168,000$129,200Interestpayable03,800Incometaxpayable76,00076,000Long-termliabilities:Notespayable760,000760,000Stockholdersequity:Commonstock786,600786,600Retainedearnings2,209,4002,044,400Totalliabilitiesandstockholdersequity$4,000,000$3,800,000\text{FANTASY FOOTBALL}\\ \text{Balance Sheets}\\ \text{December 31}\\ \begin{matrix} Examiners should vocabulary 4. RISK AND REWARD Risks and rewards of saving versus investment. <>/Filter/FlateDecode/ID[<77D1072CAEB1B2110A00F08B18E6FD7F>]/Index[1895 29]/Info 1894 0 R/Length 73/Prev 591381/Root 1896 0 R/Size 1924/Type/XRef/W[1 3 1]>>stream This includes, but is not limited to offline versions of: Learners are not permitted to take notes or any other materials into the Part S supervised assessment period but they may have access to blank paper and pens to jot down ideas or sketch out plans. ), WEBSITES TO SUPPORT http: //www. Students also viewed Exam 10 October, questions and answers For LA D, the requirement is about cultural factors which generally will affect international businesses and learners don't have to apply this to a named business, but they can of course give examples. June 10, 2022 . "Ernie owns a water pump. startxref Learners may resit an external assessment to obtain a higher grade of near pass or above. The business finance aspects of the unit introduces learners to accounting terminology, the purpose and importance of business accounts and the different sources of finance available to businesses. Aryan_Dawar. lower premium offer. \end{matrix} Something like a school/college special event for other students to raise money for charity would be appropriate. On a circle graph , how many degrees should be used to show the sales of each department? \text{Long-term liabilities:} & \text{ } & \text{ }\\ There is also a sister page to support you in the delivery of this qualification. Torecordpaymentofanaccruedexpense.G. Grade boundaries Jan 2023; AQA Politics Paper 1 25 May 2022 Exam chat; OCR Classical Civilisation A2 World of the Hero Paper 2022; & \text{E. To record an accrued expense. they have evidenced each of the descriptor bullet points. 5 0 obj & \text{G. To record this periods use of a prepaid expense. A company produces xxx units of commodity A\mathrm{A}A and yyy units of commodity B\mathrm{B}B. information. 6 0 obj BTEC Business Level 3 Unit 3 Exam A Kevin4031 All you need to know is the formulas and also you need to know how to do depreciation. unit 3: personal and business finance grade boundaries 03 Jun. Torecordreceiptofanaccruedrevenue.H. unit 3: personal and business finance grade boundaries. Torecordthisperiodsdepreciationexpense., ______1.InterestExpense1,000InterestPayable1,000______2.DepreciationExpense4,000AccumulatedDepreciation4,000______3.UnearnedProfessionalFees3,000ProfessionalFeesEarned3,000______4.InsuranceExpense4,200PrepaidInsurance4,200______5.SalariesPayable1,400Cash1,400______6.PrepaidRent4,500Cash4,500______7.SalariesExpense6,000SalariesPayable6,000______8.InterestReceivable5,000InterestRevenue5,000______9.Cash9,000AccountsReceivable(fromconsulting)9,000______10.Cash7,500UnearnedProfessionalFees7,500______11.Cash2,000InterestReceivable2,000______12.RentExpense2,000PrepaidRent2,000\begin{matrix} Sales Revenue - Cost of Goods Sold. always award full marks if deserved, i. if the answer matches the mark scheme. Tort law & Omissions - Lecture notes 3, EAT 340 Solutions - UNIT1 Lesson 12 - Revision Material (Previous Examination Paper 2017 ), Offer and Acceptance - Contract law: Notes with case law, Lab report(shm) - lab report of simple harmonic motion, Unit 6 - The History of the NHS (Journal Article), Importance of Studying Child and Adolescent Development, Acoples-storz - info de acoples storz usados en la industria agropecuaria. <> document for how to a pply levelsbased mark schemes. re sponse l acks clarity and fails to provide an adequate answer costs as the vehicles age. Mark schemes should be appli ed positively. Torecordthisperiodsdepreciationexpense.