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Calculate the gross profit and net profit margin from the following data. Give your answers to two decimal places. Revenue £117,000, Gross profit £82,000, Net profit £53,500.

• Gross profit margin: 70.09%, Net profit margin: 45.73%

• Gross profit margin: 65.00%, Net profit margin: 45.73%

• Gross profit margin: 70.09%, Net profit margin: 50.00%

• Gross profit margin: 65.00%, Net profit margin: 50.00%

Calculate the Gross Profit Margin (GPM) using the formula: GPM = Gross Profit / Revenue. Given: Gross Profit = 82,000, Revenue = 117,000. What is the GPM as a percentage?

• 70.09%

• 65.00%

• 75.00%

• 60.00%

Calculate the Net Profit Margin (NPM) using the formula: NPM = Net Profit / Revenue. Given: Net Profit = 53,000, Revenue = 117,000. Fill in the blank with the correct percentage.

• 45.73%

• 35.47%

• 50.00%

• 40.00%

The purpose of business planning is to:

• set goals and objectives

• increase profits

• reduce costs

• improve employee satisfaction

The main sections within a business plan are:

• Executive Summary, Market Analysis, Financial Plan

• Introduction, Literature Review, Methodology

• Abstract, Results, Discussion

• Title Page, References, Appendix

The Marketing Mix is a combination of what elements?

• Product, Price, Place, Promotion

• Product, Price, People, Process

• Product, Price, Promotion, People

• Product, Price, Place, Process

A Business Plan is:

• a detailed plan outlining the goals, strategies, and financial projections of a business.

• a casual conversation about business ideas.

• a random collection of business thoughts.

• a brief note on business trends.

What does the quote 'Failing to plan = Planning to fail' imply?

• Planning is unnecessary

• Planning is essential for success

• Failure is inevitable

• Success is guaranteed

A business plan is:

• a detailed plan outlining the goals, strategies, and financial projections of a business.

• a casual conversation about business ideas.

• a legal document required to start a business.

• a simple list of business contacts.

A business plan is:

• a detailed plan outlining the goals, strategies, and financial projections of a business.

• a casual conversation about business ideas.

• a random collection of business thoughts.

• a simple list of business contacts.