What is the function/role/responsibility of the Financial Ombudsman service (FOS)?
- resolve disputes between consumers and financial firms for free.
What is the function/role/responsibility of the Financial Services Compensation Scheme (FSCS)?
- Compensates consumers up to £85,000 if a financial firm fails.
What is the function/role/responsibility of the Consumer Credit Legislation?
- Protects consumers by making credit agreements clear and giving the right to cancel.
Name 2 Advantages of Gilts?
1) Fixed intrest.
2) Low risk
Name 2 Diffrent types of revene income?
1)Cash sales.
2)Credit sales.
What is an advantage of an debenture?
The intrest rate is fixed. So the company does not need to worry about intrest.
What is the formula for sales revene?
Gross profit + Cost of sales.
Whats the formula for Profit?
Profit = Gross profit - expenses
What is the formula for selling price per unit?
Breck even Revenue ÷ Breck even quantity.
What is the formula for Variable cost per unit?
(Total costs - Fixed) ÷ Breck even quantity.
What is the function/role/responsibility of the Financial Conduct Authority (FCA)?
- Regulates financial firms to make sure that customers are fairly treated.
