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AQA A level Business - Unit 1 Exam Questions and Answers $7.49   Add to cart

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AQA A level Business - Unit 1 Exam Questions and Answers

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AQA A level Business - Unit 1 Exam Questions and Answers

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  • May 23, 2024
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AQA A level Business - Unit 1 Exam
Questions and Answers
Key issues with different forms of business - Answer>>
Unlimited/ limited liability, Ordinary share capital, Market
capitalisation and Dividends.

Budgets - Answer>> Agreed ceiling on the monthly spending by
any department or manger.

Corporate Objectives - Answer>> Targets for the whole
business, such as profit to rise by 20% a year for the next 3 years
for the whole business.

Delegated - Answer>> Decision making power is passed down
the the hierarchy.

Entrepreneur - Answer>> Person with the initiative and drive to
make a business idea happen.

Mission - Answer>> Over riding motivation or purpose of a
business

Mission Statement - Answer>> A short, powerful expressed
sentence or two that explains the business aims clearly yet
motivationally.

Objectives - Answer>> Targets precise enough to allow praise
or blame for the person in charge.

, Profit Optimisation - Answer>> The surplus of revenue over
costs should be just right; neither too high in the short term nor
too low to finance long term success.

Strategy - Answer>> Medium to long term plan for meeting
objectives.

Four business functions - Answer>> Marketing, People (Human
Resources), Finance and Operations.

Reasons businesses exist - Answer>> Human spirit, a sense of
adventure, to lead people to what they can do, and to create
income, meet consumer demand.

Set businesses objectives - Answer>> Managers cannot make
every decision. Contributes towards achieving goals. These are
reasons for doing what?

Benefits of setting objectives - Answer>> Motivating for
managers and for all staff to have a clear goal to aim towards.
Also, they are the basis for devising a strategy.

Key Business Objectives - Answer>> Profit Maximisation, Profit
Optimisation, Growth, Cash Flow, Survival and Social and Ethical
- these are examples of key what?

Specific Measurable Achievable Realistic Timebound -
Answer>> SMART stands for - write each word

Bankrupt - Answer>> INDIVIDUAL is unable to meet personal
liabilities, some or all of which can be as a consequence of
business activities.

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