BTEC Business key terms Level 2 Exam
Questions And Answers
Revenue/ sales - - -
correct answer ✅The amount a company earns from selling its
products.
Variable costs - - -
correct answer ✅Costs that can go up or down
Fixed cost - - -
correct answer ✅Costs that do not vary with the quantity of
output produced
Start up cost - - -
correct answer ✅A cost that has to be paid before the business
can start trading
Budgeting - - -
correct answer ✅Financial forward planning making sure the
business has enough money to spend on bills or new stock
Trading Profit and Loss account - - -
correct answer ✅A statement showing if the business has made or
lost money
Questions And Answers
Revenue/ sales - - -
correct answer ✅The amount a company earns from selling its
products.
Variable costs - - -
correct answer ✅Costs that can go up or down
Fixed cost - - -
correct answer ✅Costs that do not vary with the quantity of
output produced
Start up cost - - -
correct answer ✅A cost that has to be paid before the business
can start trading
Budgeting - - -
correct answer ✅Financial forward planning making sure the
business has enough money to spend on bills or new stock
Trading Profit and Loss account - - -
correct answer ✅A statement showing if the business has made or
lost money
