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WorksheetsAQA Business Year 1
Total questions: 41
Worksheet time: 17mins
Name
Class
Date
1.
Google wants to ‘organise the world’s information and make it accessible & useful.’ This is a
a)
form
b)
mission
c)
venture
d)
objective
2.
‘Revenue’ or ‘sales’ is also known as:
a)
capitalisation
b)
volume
c)
turnover
d)
profit
3.
Dream Cakes is a business that makes and sells wedding cakes and birthday cakes.
a)
£65,995
b)
£659,950
c)
£108,700
d)
£480,625
4.
Profit is calculated by:
a)
deducting both fixed and variable costs from revenue
b)
adding variable costs to sales
c)
adding total costs to turnover
d)
deducting fixed costs from total costs
5.
Business costs that do not change when the quantity of output changes are known as
a)
fixed costs
b)
variable costs
c)
head costs
d)
total costs
6.
What is the variable cost per delivery?
a)
£72.37
b)
£30.53
c)
£35.37
d)
£36.00
7.
What is the average weekly revenue?
a)
£1,995
b)
£13,200
c)
£3,465
d)
£3,975
8.
How much are the fixed costs?
a)
£110,000
b)
£173,333
c)
£86,000
d)
£193,333
9.
Which of the following is not a ‘public sector organisation’?
a)
Job Centre Plus
b)
HM Revenue & Customs
c)
UK Border Agency
d)
British Gas
10.
See image
a)
limited
b)
non profit
c)
public sector
d)
private sector
11.
Which of the following is true?
a)
The ordinary share capital is £25,000,000
b)
There are 25.2 million ordinary shares
c)
The ordinary share capital is £152,208,000
d)
There are 2.52 million ordinary shares
12.
Which of the following is a characteristic of a sole trader?
a)
Unlimited liability
b)
Many shareholders
c)
Limited liability
d)
Limited shareholders
13.
Which of the following statements is true?
a)
The business reported a loss of £100,000
b)
Total variable costs rose by 33.3 per cent
c)
Previous annual sales were £2.2 million
d)
Profits rose by less than 20 per cent
14.
see image
a)
New construction toy launch by a European competitor
b)
Fall in the birth rate in an important geographic market
c)
Management changes at the toy manufacturer
d)
Rising incomes for the Chinese middle class
15.
The benefit that is lost in making a choice between 2 competing uses of business resources is:
a)
sunk cost
b)
fixed cost
c)
social cost
d)
opportunity cost
16.
In a decision tree you should work through the calculations using figures from
a)
top to bottom
b)
bottom to top
c)
left to right
d)
right to left
17.
Which is not a resource constraint which influences decision-making? A shortage of:
a)
financial capital
b)
factory space
c)
trained staff
d)
measurable objectives
18.
Employees, customers and suppliers are all business:
a)
resources
b)
rewards
c)
shareholders
d)
stakeholders
19.
Which of the following leadership/management styles will not feature on the Blake Moulton Grid?
a)
Country club
b)
Impoverishedb
c)
Urban guerrilla
d)
Team leader
20.
On a decision tree a square indicates
a)
a possible choice
b)
a possible outcome
c)
where a decision has to be made
d)
a chance
21.
Marketing research might collect and interpret quantitative data. This data is always:
a)
collected through primary marketing research
b)
measurable on a numerical scale
c)
interpreted to assess reasons for brand loyalty
d)
accurate to two confidence levels
22.
Which of the following is an example of secondary marketing research?
a)
Data mining from loyalty cards 2 target promotional offers
b)
Exit survey of the audience as they leave the local cinema
c)
Focus group of ten core consumers of sports energy drinks
d)
Test marketing of a new fragrance in Manchester
23.
What is the size of the remaining market share held by other low cost airline operators?
a)
15 per cent
b)
49 per cent
c)
51 per cent
d)
94 per cent
24.
According to the Boston Matrix a brand with a high market share in a low-growth market is a:
a)
Cash cow
b)
Dog
c)
Rising star
d)
Question mark
25.
The product life cycle model shows which correct sequence of stages?
a)
Introduction – development – maturity – decline
b)
Development – introduction – maturity – growth
c)
Launch – growth – maturity – development
d)
Introduction – growth – maturity – decline
26.
In 2014, 25 million of Ryanair's 86m willb business. What is the % of non-business passengers?
a)
22.5 per cent
b)
29.1 per cent
c)
70.9 per cent
d)
77.5 per cent
27.
What was the % change in sales for the digital photographer between 2010 and 2011?
a)
Minus 20 per cent
b)
Minus 25 per cent
c)
Plus 25 per cent
d)
Plus 20 per cent
28.
According to Table 1 above, which of the following statements is true?
a)
Sales rose by 15 per cent between 2012 and 2013
b)
Sales rose by 5 per cent between 2011 and 2012
c)
Sales fell by 15 per cent between 2010 and 2013
d)
Sales rose by 10 per cent between 2011 and 2013
29.
The income elasticity of demand for a widely used fabric softener is + 0.2. This means
a)
price is inelastic with respect to demand
b)
income is price inelastic
c)
demand is income inelastic
d)
when incomes fall demand will increase
30.
Confidence intervals will be used in a business to:
a)
relax participants in a focus group discussion
b)
assess marketing research data
c)
allow time for on-the-job training
d)
encourage scientific decision-making to reduce risk
31.
The 7 elements of the marketing mix include
a)
physical environment
b)
profit
c)
politics
d)
private sector
32.
If a business decides to launch a new product with a price skimming strategy this means:
a)
economies of scale are particularly attractive
b)
demand is expected to be price inelastic
c)
setting a low price is advisable as the PED is -2.4
d)
new product doesn't possess a clear USP 2 differentiate it
33.
see image
a)
Growth
b)
Introduction
c)
Maturity
d)
Pre-launch
34.
see image
a)
gender balance in household
b)
income of head of household
c)
occupation of head of household
d)
media viewing/listening habits in household
35.
Which of the following is not a short-term source of finance?
a)
Bank overdraft
b)
Trade credit
c)
Cash from sales to customers
d)
Suppliers credit
36.
Budgeting is a valuable tool 4 business. Which of these is budgeting unlikely to achieve?
a)
Assigning responsibility to budget holders
b)
Co-ordinating decisions across different business functions
c)
Motivating staff through delegation to budget holders
d)
Predicting unforeseen changes in the business environment
37.
Which would not be required for a business to construct an accurate annual cash flow forecast?
a)
Forecast of expected annual profits
b)
Schedule of rent and lease payments for premises
c)
Timings and amounts of payables
d)
Timings of receivables
38.
Which of the following statements relating to ‘break-even output’ is not true?
a)
total costs equal total revenue
b)
total fixed costs equal total contribution
c)
total revenue equals total contribution
d)
total variable costs + total fixed costs equal sales revenue
39.
Financing a business by raising capital from a number of investors, via the internet’ is
a)
Crowdfunding
b)
Community enterprise
c)
Venture capitalising
d)
Equitable sourcing
40.
What line would not appear on a break even chart?
a)
cash inflow
b)
Fixed costs
c)
Total revenue
d)
Total costs
41.
A drawback of using debt factoring to help a business increase cash inflows is:
a)
debts must be repaid within one year
b)
suppliers may reduce cash discounts previously offered
c)
profits are normally reduced
d)
factoring fees increase fixed costs
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