AQA A-LEVEL BUSINESS questions and solutions
What are common business objectives? - answersProfit
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Growth
Survival
Cash flow ro
Social ro
Ethical
Objectives should be "SMART". What does this mean? - answersThey should be: ro ro ro ro ro ro ro ro ro ro ro
Specific
Measurable
Agreed
Realistic
Time related ro
What is a mission statement? - answersA brief written statement about the purpose of a company or organisation
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What are corporate aims? - answersLong term plans to fulfil the mission statement
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What are corporate objectives? - answersMedium to long term quantifiable targets to achieve the mission statement
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What is a corporate strategy? - answersActions tken by a business to achieve the strategy
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What are tactics? - answersDay to day actions to support the strategy
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Why set objectives? - answers-common sense of purpose
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-motivate employees ro
-create reward systems ro ro
-measure and review performance ro ro ro
-Inform decisions to improve performance ro ro ro ro
How is revenue calculated? - answersSelling price x quantity sold
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How is total costs calculated? - answersFixed costs + variable costs
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On a graph, how is total costs shown? - answersStart at the fixed costs point and slope upwards depending on variable
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costs
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What will businesses with a profit objective aim to do? - answers-Increase sales revenue
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-Reduce expenditure ro
What are the different business forms? - answersSole trader
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PLC
LTD
What is a sole trader? - answersSomeone who owns and runs his own business. His profit is taxable through income tax
ro ro ro ro ro ro ro ro ro ro ro ro ro ro ro ro ro ro ro ro
1/ 2 ro roororor
What are common business objectives? - answersProfit
ro ro ro ro ro ro
Growth
Survival
Cash flow ro
Social ro
Ethical
Objectives should be "SMART". What does this mean? - answersThey should be: ro ro ro ro ro ro ro ro ro ro ro
Specific
Measurable
Agreed
Realistic
Time related ro
What is a mission statement? - answersA brief written statement about the purpose of a company or organisation
ro ro ro ro ro ro ro ro ro ro ro ro ro ro ro ro ro
What are corporate aims? - answersLong term plans to fulfil the mission statement
ro ro ro ro ro ro ro ro ro ro ro ro
What are corporate objectives? - answersMedium to long term quantifiable targets to achieve the mission statement
ro ro ro ro ro ro ro ro ro ro ro ro ro ro ro
What is a corporate strategy? - answersActions tken by a business to achieve the strategy
ro ro ro ro ro ro ro ro ro ro ro ro ro ro
What are tactics? - answersDay to day actions to support the strategy
ro ro ro ro ro ro ro ro ro ro ro
Why set objectives? - answers-common sense of purpose
ro ro ro ro ro ro ro
-motivate employees ro
-create reward systems ro ro
-measure and review performance ro ro ro
-Inform decisions to improve performance ro ro ro ro
How is revenue calculated? - answersSelling price x quantity sold
ro ro ro ro ro ro ro ro ro
How is total costs calculated? - answersFixed costs + variable costs
ro ro ro ro ro ro ro ro ro ro
On a graph, how is total costs shown? - answersStart at the fixed costs point and slope upwards depending on variable
ro ro ro ro ro ro ro ro ro ro ro ro ro ro ro ro ro ro ro ro
costs
ro
What will businesses with a profit objective aim to do? - answers-Increase sales revenue
ro ro ro ro ro ro ro ro ro ro ro ro ro
-Reduce expenditure ro
What are the different business forms? - answersSole trader
ro ro ro ro ro ro ro ro
PLC
LTD
What is a sole trader? - answersSomeone who owns and runs his own business. His profit is taxable through income tax
ro ro ro ro ro ro ro ro ro ro ro ro ro ro ro ro ro ro ro ro
1/ 2 ro roororor
