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BTEC Business- Unit 3 Finance revision exam Questions and Answers (Verified Answers 2025)
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BTEC Business- Unit 3 Finance revision exam Questions and Answers (Verified Answers 2025)
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BTEC Business- Unit 3 Finance revisionexam Questions and Answers (Verified
Answers 2025)
Cash - Correct Answer ✅Money in the form of bills or coins
Debit card - Correct Answer ✅A card used to withdraw
money from a bank account
Credit card - Correct Answer ✅A card authorizing the
holder to buy goods and services that can be paid for later.
Cheque - Correct Answer ✅A written instruction to your
bank to pay a sum of money to another person from your
current account
Electronic transfer - Correct Answer ✅The transfer of funds
from one account to another via the internet or telephone
Direct debit - Correct Answer ✅An electronic payment out
of an account. The amount and frequency of a direct debit
payment can vary
, BTEC Business- Unit 3 Finance revision
exam Questions and Answers (Verified
Answers 2025)
Standing order - Correct Answer ✅n. an instruction to a
bank to make regular payments
Contactless card - Correct Answer ✅Cards containing
antennae allow money to be transferred when the card
touches a contactless terminal
Store card - Correct Answer ✅a credit card which can only
be used to buy goods in one particular shop or chain of shops
Mobile banking - Correct Answer ✅apps that allow online
banking access from devices such as smart phones, tablets,
etc.
BACS - Correct Answer ✅Bankers Automated Clearing
Services
CHAPS - Correct Answer ✅Clearing House Automated
Payments System
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