AQA A LEVEL BUSINESS PAPER 2 ACTUAL EXAM BANK WITH
100% RATED CORRECT REAL EXAM QUESTIONS AND CORRECT
ANSWERS| GRADED A+ |2025 LATEST VERSION | 100% VERIFIED
What are common business objectives? - (answer)Profit
Growth
Survival
Cash flow
Social
Ethical
Objectives should be "SMART". What does this mean? - (answer)They should be:
Specific
Measurable
Agreed
Realistic
Time related
What is a mission statement? - (answer)A brief written statement about the purpose of a
company or organisation
What are corporate aims? - (answer)Long term plans to fulfil the mission statement
What are corporate objectives? - (answer)Medium to long term quantifiable targets to achieve the
mission statement
What is a corporate strategy? - (answer)Actions tken by a business to achieve the strategy
,What are tactics? - (answer)Day to day actions to support the strategy
Why set objectives? - (answer)-common sense of purpose
-motivate employees
-create reward systems
-measure and review performance
-Inform decisions to improve performance
How is revenue calculated? - (answer)Selling price x quantity sold
How is total costs calculated? - (answer)Fixed costs + variable costs
On a graph, how is total costs shown? - (answer)Start at the fixed costs point and slope upwards
depending on variable costs
What will businesses with a profit objective aim to do? - (answer)-Increase sales revenue
-Reduce expenditure
What are the different business forms? - (answer)Sole trader
PLC
LTD
What is a sole trader? - (answer)Someone who owns and runs his own business. His profit is
taxable through income tax
What are the benefits of being a sole trader? - (answer)- Cheap and easy to set up
- All profits go to the sole trader
,- Autonomy in decision making
- Motivation is high as the success of the business and the individual is one and he same
What are the drawbacks of being a sole trader? - (answer)- Unlimited liability
- Limited capital for investment
- Little specialist skills
- Difficult to find cover when ill
What are common business objectives? - (answer)Profit
Growth
Survival
Cash flow
Social
Ethical
Objectives should be "SMART". What does this mean? - (answer)They should be:
Specific
Measurable
Agreed
Realistic
Time related
What is a mission statement? - (answer)A brief written statement about the purpose of a
company or organisation
What are corporate aims? - (answer)Long term plans to fulfil the mission statement
What are corporate objectives? - (answer)Medium to long term quantifiable targets to achieve the
mission statement
, What is a corporate strategy? - (answer)Actions tken by a business to achieve the strategy
What are tactics? - (answer)Day to day actions to support the strategy
Why set objectives? - (answer)-common sense of purpose
-motivate employees
-create reward systems
-measure and review performance
-Inform decisions to improve performance
How is revenue calculated? - (answer)Selling price x quantity sold
How is total costs calculated? - (answer)Fixed costs + variable costs
On a graph, how is total costs shown? - (answer)Start at the fixed costs point and slope upwards
depending on variable costs
What will businesses with a profit objective aim to do? - (answer)-Increase sales revenue
-Reduce expenditure
What are the different business forms? - (answer)Sole trader
PLC
LTD
What is a sole trader? - (answer)Someone who owns and runs his own business. His profit is
taxable through income tax
100% RATED CORRECT REAL EXAM QUESTIONS AND CORRECT
ANSWERS| GRADED A+ |2025 LATEST VERSION | 100% VERIFIED
What are common business objectives? - (answer)Profit
Growth
Survival
Cash flow
Social
Ethical
Objectives should be "SMART". What does this mean? - (answer)They should be:
Specific
Measurable
Agreed
Realistic
Time related
What is a mission statement? - (answer)A brief written statement about the purpose of a
company or organisation
What are corporate aims? - (answer)Long term plans to fulfil the mission statement
What are corporate objectives? - (answer)Medium to long term quantifiable targets to achieve the
mission statement
What is a corporate strategy? - (answer)Actions tken by a business to achieve the strategy
,What are tactics? - (answer)Day to day actions to support the strategy
Why set objectives? - (answer)-common sense of purpose
-motivate employees
-create reward systems
-measure and review performance
-Inform decisions to improve performance
How is revenue calculated? - (answer)Selling price x quantity sold
How is total costs calculated? - (answer)Fixed costs + variable costs
On a graph, how is total costs shown? - (answer)Start at the fixed costs point and slope upwards
depending on variable costs
What will businesses with a profit objective aim to do? - (answer)-Increase sales revenue
-Reduce expenditure
What are the different business forms? - (answer)Sole trader
PLC
LTD
What is a sole trader? - (answer)Someone who owns and runs his own business. His profit is
taxable through income tax
What are the benefits of being a sole trader? - (answer)- Cheap and easy to set up
- All profits go to the sole trader
,- Autonomy in decision making
- Motivation is high as the success of the business and the individual is one and he same
What are the drawbacks of being a sole trader? - (answer)- Unlimited liability
- Limited capital for investment
- Little specialist skills
- Difficult to find cover when ill
What are common business objectives? - (answer)Profit
Growth
Survival
Cash flow
Social
Ethical
Objectives should be "SMART". What does this mean? - (answer)They should be:
Specific
Measurable
Agreed
Realistic
Time related
What is a mission statement? - (answer)A brief written statement about the purpose of a
company or organisation
What are corporate aims? - (answer)Long term plans to fulfil the mission statement
What are corporate objectives? - (answer)Medium to long term quantifiable targets to achieve the
mission statement
, What is a corporate strategy? - (answer)Actions tken by a business to achieve the strategy
What are tactics? - (answer)Day to day actions to support the strategy
Why set objectives? - (answer)-common sense of purpose
-motivate employees
-create reward systems
-measure and review performance
-Inform decisions to improve performance
How is revenue calculated? - (answer)Selling price x quantity sold
How is total costs calculated? - (answer)Fixed costs + variable costs
On a graph, how is total costs shown? - (answer)Start at the fixed costs point and slope upwards
depending on variable costs
What will businesses with a profit objective aim to do? - (answer)-Increase sales revenue
-Reduce expenditure
What are the different business forms? - (answer)Sole trader
PLC
LTD
What is a sole trader? - (answer)Someone who owns and runs his own business. His profit is
taxable through income tax
