AQA A LEVEL BUSINESS - UNIT 1
QUESTIONS WITH VERIFIED ANSWERS
2024
Key issues with different forms of business - correct answer-
Unlimited/ limited liability, Ordinary share capital, Market capitalisation and Dividends.
Budgets - correct answer-Agreed ceiling on the monthly spending by any department or manger.
Corporate Objectives - correct answer-
Targets for the whole business, such as profit to rise by 20% a year for the next 3 years for the whole b
usiness.
Delegated - correct answer-Decision making power is passed down the the hierarchy.
Entrepreneur - correct answer-Person with the initiative and drive to make a business idea happen.
Mission - correct answer-Over riding motivation or purpose of a business
Mission Statement - correct answer-
A short, powerful expressed sentence or two that explains the business aims clearly yet motivationally.
Objectives - correct answer-Targets precise enough to allow praise or blame for the person in charge.
Profit Optimisation - correct answer-
The surplus of revenue over costs should be just right; neither too high in the short term nor too low t
o finance long term success.
Strategy - correct answer-Medium to long term plan for meeting objectives.
Four business functions - correct answer-
Marketing, People (Human Resources), Finance and Operations.
QUESTIONS WITH VERIFIED ANSWERS
2024
Key issues with different forms of business - correct answer-
Unlimited/ limited liability, Ordinary share capital, Market capitalisation and Dividends.
Budgets - correct answer-Agreed ceiling on the monthly spending by any department or manger.
Corporate Objectives - correct answer-
Targets for the whole business, such as profit to rise by 20% a year for the next 3 years for the whole b
usiness.
Delegated - correct answer-Decision making power is passed down the the hierarchy.
Entrepreneur - correct answer-Person with the initiative and drive to make a business idea happen.
Mission - correct answer-Over riding motivation or purpose of a business
Mission Statement - correct answer-
A short, powerful expressed sentence or two that explains the business aims clearly yet motivationally.
Objectives - correct answer-Targets precise enough to allow praise or blame for the person in charge.
Profit Optimisation - correct answer-
The surplus of revenue over costs should be just right; neither too high in the short term nor too low t
o finance long term success.
Strategy - correct answer-Medium to long term plan for meeting objectives.
Four business functions - correct answer-
Marketing, People (Human Resources), Finance and Operations.
