BTEC tech award in Enterprise

Which of the following documents is sent by the customer to its supplier

• invoice

• delivery note

• order form

• credit note

Which of the following is used when part of an order is returned as it is faulty

• order form

• statement of account

• invoice

• credit note

Which of the following is used to show proof of payment

• statement of Account

• Delivery note

• receipt

• invoice

Which of the following is NOT a method of payment

• bank transfer

• direct debit

• loyalty card

• credit card

One problem of accepting cash as a means of payment is

• it can be used to pay small amounts

• it doesn't require technology

• it requires secure storage

• customers have lots of it

Which of the following is NOT true of a credit card

• they are similar to short term loans,

• they are flexible way to borrow just what you need

• customers can borrow as much as they like

• interest is charged on what is borrowed

Which is not a problem of inaccurate record keeping in a business

• the business accounts could be wrong and they will pay the incorrect amount of tax

• customers could be charged twice, damaging customer service

• the business might not charge a customer enough, reducing sales revenue

• All the above are all problems of inaccurate record keeping.There are no benefits!

Total Costs are calculated as

• Fixed Cost plus Variable cost

• Fixed cost minus variable cost

• Total revenue plus profit

• Profit minus total revenue

Which is NOT true of Fixed costs

• Fixed costs are a horizontal line on a breakeven chart

• Fixed costs don't change with number of customers

• rent is an example of a fixed cost

• Fixed costs change with the number of customers

Fred runs a t shirt stall. Fixed Costs = £100 per day; Variable costs = £3 per t- shirt. The t shirt stall sells 20 t shirts today. Calculate Fred's total costs.

• £103

• £123

• £163

• £160