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AQA AS Level Business 7131 Units 1-6 Questions & 100% Correct AnswersLatest Test | Graded A+ | Passed $12.99   Add to cart
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AQA AS Level Business 7131 Units 1-6 Questions & 100% Correct AnswersLatest Test | Graded A+ | Passed
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Financial objective ֎ -:- Goal or target pursued by the finance department (or function) within an organisation Income statement ֎ -:- Records a business' sales revenue over a trading period and all relevant costs incurred as well as the business' profit or loss Gross profit ֎ -:- Incom...

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  • August 26, 2024
  • 35
  • 2024/2025
  • Exam (elaborations)
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  • aqa as level business 7131 units 1 6 questions 1

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Excellence is key | 2024/2025 ~Page |1



AQA AS Level Business 7131 Units 1-6
Questions & 100% Correct Answers-
Latest Test | Graded A+ | Passed
Financial objective


֎ -:- Goal or target pursued by the finance department (or function) within an

organisation




Income statement


֎ -:- Records a business' sales revenue over a trading period and all relevant

costs incurred as well as the business' profit or loss




Gross profit


֎ -:- Income received from sales minus the cost of goods and services sold




Direct costs


֎ -:- Expenditure that can clearly be allocated to a particular product or area of

the business e.g. raw materials and components




Indirect costs




26/08/2024 | © Copyright- This work may not be copied for profit.

, Excellence is key | 2024/2025 ~Page |2


֎ -:- Expenditure that relates to all aspects of a business' activities, such as

maintenance costs for buildings or senior managers' salaries




Operating profit


֎ -:- The financial surplus arising from a business' normal trading activities and

before taxation




Profit for the year


֎ -:- A measure of a business' profits that takes into account a wider range of

expenditures and incomes including taxation




Investment


֎ -:- The purchase of assets such as property, vehicles and machinery that will

be used for a considerable time by the business




Non-current assets


֎ -:- Items that a business owns and which it expects to retain for one year or

longer




Capital expenditure




26/08/2024 | © Copyright- This work may not be copied for profit.

, Excellence is key | 2024/2025 ~Page |3


֎ -:- Spending undertaken by businesses to purchase non-current assets such as

vehicles and property (it is another form of investment)




Capital structure


֎ -:- Refers to the way in which a business has raised the capital required to

purchase its assets




Budgets


֎ -:- Financial plans that forecast revenue from sales and expected costs over a

time period




Variance analysis


֎ -:- The process of investigating any differences between forecast data and

actual figures




Cash flow forecasts


֎ -:- State the inflows and outflows of cash that the managers of a business

expect over some future period




Break even output




26/08/2024 | © Copyright- This work may not be copied for profit.

, Excellence is key | 2024/2025 ~Page |4


֎ -:- That level of output or production at which total costs exactly equal

revenue from sales




Contribution


֎ -:- The difference between revenue and variable costs




Margin of safety


֎ -:- Measures the amount by which a business' current level of output exceeds

break-even output




Profitability


֎ -:- A measure of financial performance that compares a business' profits to

some other factors such as revenue




Profit margin


֎ -:- A ratio that expresses a business' profit as a percentage of its revenues over

some trading period




Internal source of finance


֎ -:- A source of finance that exists within the business




26/08/2024 | © Copyright- This work may not be copied for profit.

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