GCSE BUSINESS EXAMINATION TEST 2026
COMPREHENSIVE Q&A STUDY GUIDE
◉As described. Answer: Goods must be as businesses described
them
◉Automation. Answer: Production using machinery that is
controlled by a computer
◉Average rate of return. Answer: A method to measure and
compare the profitability of an investment, over the life of the
investment
◉Batch Production. Answer: Process where one type of product is
made and then production is switched to make a different product
◉Break even forecast. Answer: A prediction about the break-even
quantity, based on estimates of future revenues and costs
◉Break even quantity. Answer: "The amount a business must sell to
earn enough revenue to cover costs.
,◉Doesn't make a profit or a loss". Answer:
◉Capital. Answer: Money or assets such as machines, buildings,
vehicles
◉Cash. Answer: Notes and coins BUT also money in bank accounts
◉Cash flow forecast. Answer: A statement showing the expected
flow of money in and out of a business over a period of time
◉Child labour. Answer: Use of children, below the legal age for
employment to achieve low cost production
◉Click and collect. Answer: Ordering online and collecting in store
later
◉Climate change. Answer: The process when average temperatures
rise or fall and patterns of weather change
◉Closing balance. Answer: The amount of cash left at the end of the
month. (This becomes the opening balance for the next month)
, ◉Consumer income. Answer: The total amount of income that all the
customers in the country receive and which they have available to
spend
◉Consumer Law. Answer: Area of law that protects the customers of
a business. (Consumer Rights Act 2015)
◉Crowdfunding. Answer: Money raised through an appeal to the
public
◉Customer Engagement. Answer: Contact between the business and
customer
◉Customer Service. Answer: The area of business that deals with
customer enquiries
◉Customers. Answer: Buyers who buy goods and services for the
satisfaction or benefit they will get from them. Customers largely
buy from retailers
◉Depreciation. Answer: Loss of value of an asset over time
COMPREHENSIVE Q&A STUDY GUIDE
◉As described. Answer: Goods must be as businesses described
them
◉Automation. Answer: Production using machinery that is
controlled by a computer
◉Average rate of return. Answer: A method to measure and
compare the profitability of an investment, over the life of the
investment
◉Batch Production. Answer: Process where one type of product is
made and then production is switched to make a different product
◉Break even forecast. Answer: A prediction about the break-even
quantity, based on estimates of future revenues and costs
◉Break even quantity. Answer: "The amount a business must sell to
earn enough revenue to cover costs.
,◉Doesn't make a profit or a loss". Answer:
◉Capital. Answer: Money or assets such as machines, buildings,
vehicles
◉Cash. Answer: Notes and coins BUT also money in bank accounts
◉Cash flow forecast. Answer: A statement showing the expected
flow of money in and out of a business over a period of time
◉Child labour. Answer: Use of children, below the legal age for
employment to achieve low cost production
◉Click and collect. Answer: Ordering online and collecting in store
later
◉Climate change. Answer: The process when average temperatures
rise or fall and patterns of weather change
◉Closing balance. Answer: The amount of cash left at the end of the
month. (This becomes the opening balance for the next month)
, ◉Consumer income. Answer: The total amount of income that all the
customers in the country receive and which they have available to
spend
◉Consumer Law. Answer: Area of law that protects the customers of
a business. (Consumer Rights Act 2015)
◉Crowdfunding. Answer: Money raised through an appeal to the
public
◉Customer Engagement. Answer: Contact between the business and
customer
◉Customer Service. Answer: The area of business that deals with
customer enquiries
◉Customers. Answer: Buyers who buy goods and services for the
satisfaction or benefit they will get from them. Customers largely
buy from retailers
◉Depreciation. Answer: Loss of value of an asset over time
