Try this:

DECLARE @t TABLE (

Acno VARCHAR(20),

acdesc VARCHAR(20),

actype CHAR(1)

)

INSERT INTO @t (acno, acdesc, actype)

SELECT '1122334', 'Tesr acct', 'C' UNION ALL

SELECT '0004455', 'Bank Test Account', 'S'

SELECT

'12345' AS Business_ID,

(

SELECT

acno AS ACCOUNT_NUMBER,

acdesc AS ACCOUNT_DESCRIPTION,

actype AS ACCOUNT_TYPE

FROM @t

FOR XML PATH('Account'),ROOT('Accounts'), TYPE

)

FOR XML PATH(''), ROOT('Business')

/*

<Business>

<Business_ID>12345</Business_Id>

<Accounts>

<Account>

<ACCOUNT_NUMBER>1122334</ACCOUNT_NUMBER>

<ACCOUNT_DESCRIPTION>Tesr acct</ACCOUNT_DESCRIPTION>

<ACCOUNT_TYPE>C</ACCOUNT_TYPE>

</Account>

<Account>

<ACCOUNT_NUMBER>0004455</ACCOUNT_NUMBER>

<ACCOUNT_DESCRIPTION>Bank Test Account</ACCOUNT_DESCRIPTION>

<ACCOUNT_TYPE>S</ACCOUNT_TYPE>

</Account>

</Accounts>

</Business>

*/