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BTEC Business Level 2 Exam Questions & Answers 2024/2025
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BTEC Business Level 2 Exam Questions & Answers 2024/2025
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BTEC Business Level 2 Exam Questions& Answers 2024/2025
Revenue/ sales - ANSWERSThe amount a company earns from selling its products.
Variable costs - ANSWERSCosts that can go up or down
Fixed cost - ANSWERSCosts that do not vary with the quantity of output produced
Start up cost - ANSWERSA cost that has to be paid before the business can start trading
Budgeting - ANSWERSFinancial forward planning making sure the business has enough money to spend
on bills or new stock
Trading Profit and Loss account - ANSWERSA statement showing if the business has made or lost money
Break even - ANSWERSThe point at which total revenue and total cost are equal. They business does not
make a profit or a loss
Inflow/ sales - ANSWERSThe money coming into a business from sales
Outflow/ exspenses - ANSWERSThe money that leaves the business, such as paying bills
Gross profit - ANSWERSIs the first type of profit made. The business does not keep this
Net profit - ANSWERSThe last type of profit made. This business keeps this.
Gross profit calculation - ANSWERSSales - cost of sales= ________ profit
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