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BTEC Business Level 2 Exam Questions & Answers 2024/2025 $7.99   Add to cart

Exam (elaborations)

BTEC Business Level 2 Exam Questions & Answers 2024/2025

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  • Course
  • BTEC Business Level 2
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  • BTEC Business Level 2

BTEC Business Level 2 Exam Questions & Answers 2024/2025

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  • August 23, 2024
  • 2
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • BTEC Business Level 2
  • BTEC Business Level 2
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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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