Purchase of Business Account: Meaning - SS3 Accounting Past Questions and Answers - page 1
What is the purchase of a business account?
Buying a company's shares
Buying access to a specific account or service offered by a business
Buying a business' physical assets
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What are some examples of a business account purchase?
Purchasing office space
Purchasing a social media advertising account
Purchasing a car for the business
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What is the process of purchasing a business account?
Selecting the desired account type, providing payment information, and agreeing to relevant terms and conditions
Sending a purchase order to the business and waiting for a response
Negotiating with the business owner for a lower price
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Why is purchasing a business account important for companies?
It can help streamline operations
It can improve overall efficiency
It can expand a company's reach
All of the above
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What should companies consider before making a business account purchase?
Costs
Benefits
Potential risks
All of the above
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What are the three main steps involved in the process of purchasing a business account?
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Why is it important for companies to carefully consider the costs, benefits, and potential risks associated with any business account purchase before making a final decision?
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