0264 iGCSE Business - Unit 1: End of Topic Quiz

What is the definition of "Added value" in a business context?

• The total revenue generated by a company.

• The difference between the selling price of a product and the cost of bought-in materials and resources needed to produce it.

• The profit margin of a company.

• The total cost of production.

What is an "Annual General Meeting"?

• A meeting held by employees to discuss annual bonuses.

• A legal requirement for all public limited companies where shareholders may attend and vote on who they want to be on the Board of Directors for the coming year.

• A quarterly meeting to review company performance.

• A meeting to discuss annual sales targets.

How is a "Business" defined in the context of production?

• A group of people working together.

• An organisation that combines factors of production to make products (goods and services) which satisfy people's wants.

• A place where goods are sold.

• A financial institution.

What are "Business objectives"?

• The financial statements of a company.

• The aims or targets that a business works towards.

• The legal requirements for starting a business.

• The marketing strategies of a company.

What is a business plan?

• A document describing a business, its objectives, strategies, market, and financial forecasts.

• The total amount of capital invested in a business.

• Someone who buys goods or services for personal use.

• A person or business which buys goods or services from a business.

What does the term 'capital' refer to in a business context?

• A written document that describes a business.

• The money invested into a business by the owners.

• Someone who buys goods or services for personal use.

• A person or business which buys goods or services from a business.

What is meant by 'capital employed'?

• A document describing a business, its objectives, strategies, market, and financial forecasts.

• The total amount of capital invested in a business for generating profits.

• Someone who buys goods or services for personal use.

• A person or business which buys goods or services from a business.

Who is considered a consumer?

• A document describing a business, its objectives, strategies, market, and financial forecasts.

• The money invested into a business by the owners.

• Someone who buys goods or services for personal use not to re-sell.

• A person or business which buys goods or services from a business.

What defines a customer in a business context?

• A document describing a business, its objectives, strategies, market, and financial forecasts.

• The money invested into a business by the owners.

• Someone who buys goods or services for personal use.

• A person or business which buys goods or services from a business.

What are dividends?

• Payments made to employees from the profits of a company

• Payments made to shareholders from the profits (after tax) of a company

• Payments made to suppliers from the profits of a company

• Payments made to customers from the profits of a company