Week 7

Business Finance
Assignment Document

Instructions:

1. Keep your answers brief and to the point

2. Use bullet points if necessary

Q1.What, according to you is the importance of business accounting? (Word Limit – 50

words)
Ans. Accounting plays a vital role in running a business because it helps you
track income and expenditures, ensure statutory compliance, and provide
investors, management, and government with quantitative financial
information which can be used in making business decisions.

Q2. Differentiate between profit, revenue and turnover. (Word Limit – 75 words)
Ans. Turnover is the net sales generated by a business, while profit is the residual earnings of a
business after all expenses have been charged against net sales. Revenue is the total amount of
income generated by the sale of goods or services related to the company's primary operations

Q3 What does your cash-flow statement tell you about your business? (Word limit – 50
words)
Ans. Our bussiness is in profit.

Q4. Add a link to your Profit and Loss statement

Ans.

Q5. Add a link to your Cash-flow statement

Ans.

Q6. Add a link to your Balance Sheet

Ans.