AQA Business Studies Unit 5 Recap Quiz

Organize these options into the right categories:

Groups:

(a) Cash

,

(b) Profit

• Sales on credit

• The sale of shares in the business

• Sale of fixed assets

• Depreciation of assets

• Receipt of a bank loan

The formula for profit is ​ (a)   minus ​ (b)   ​ (c)   ​ (d)  

• Sales revenue
• Fixed costs
• plus
• Variable costs
• Minus
• Credit
• Cashflow

​ (a)   net cash flow occurs when ​ (b)   exceed ​ (c)  

• Negative
• cash outflows
• cash inflows
• Costs

What is the gross profit for the business below in its first year of trading?

Mathematical Equivalence

OFF

What is the operating profit of the business below in its first year of trading?

Mathematical Equivalence

ON

Label the diagram with the correct choices.

c

b

a

Increase Prices

Product is price inelastic

Product is price elastic

Which of the following is an example of short term debt?

• Overdraft

• Bank Loan

• Mortgage

• Venture Capital

Use the following numbers and words to complete the table below.

a

b

c

d

e

f

g

Interest and Taxation

33750

Expenses

Profit for the year

Gross Profit

85000

45000

​ (a)   = ​ (b)   minus ​ (c)  

• answer option
• Variance
• budgeted figure
• actual figure

What is the variance in sales revenue?

Mathematical Equivalence

ON