Question 1
Who is legally required to establish a business bank account?
Question 2
What are the risks associated with poor financial management?
Question 3
How does maintaining financial records help in profit management?
Question 4
Which type of records should be kept to manage costs effectively?
Question 5
What is a common weakness in financial control systems?
Question 6
Which of the following is a smarter financial management strategy?
Question 7
What is the primary purpose of financial control systems?
Question 8
What is a direct benefit of secure financial control systems?
Question 9
What is a significant advantage of maintaining thorough financial records?
Question 10
What is the outcome of mixing personal and business finances?
Question 11
What can prevent fraud in financial management?
Question 12
Which of the following is a key financial control system practice?
Question 13
Which factor should not be considered when choosing a business bank account?
Question 14
Why is it essential to establish a business bank account?
Question 15
Why is it advised for sole traders to use a business bank account even if not legally required?