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OCR MERGED QUESTION PAPER AND MARK SCHEME A Level BusinessH431/01 Operating in a local business environment FOR MAY 2024 $12.69   Add to cart

Exam (elaborations)

OCR MERGED QUESTION PAPER AND MARK SCHEME A Level BusinessH431/01 Operating in a local business environment FOR MAY 2024

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  • Course
  • ABA - Accredited Business Accountant/Advisor
  • Institution
  • ABA - Accredited Business Accountant/Advisor

OCR MERGED QUESTION PAPER AND MARK SCHEME A Level BusinessH431/01 Operating in a local business environment FOR MAY 2024

Preview 4 out of 39  pages

  • October 31, 2024
  • 39
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • ABA - Accredited Business Accountant/Advisor
  • ABA - Accredited Business Accountant/Advisor
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williesmaish2999
Tuesday 14 May 2024 – Morning
A Level Business
H431/01 Operating in a local business environment
Time allowed: 2 hours




Turn over

, 2
Section A

Put a tick (✓) in the box next to the one correct answer for each question.

1 What is an example of a tertiary organisation that operates in the private sector?

(a) Charity shop

(b) Dairy farm

(c) Shoe manufacturer

(d) Supermarket
[1]


2 What is a long-term source of finance suitable for a business start-up operating as a partnership?

(a) Bank loan

(b) Debentures

(c) Retained profit

(d) Share issue
[1]


3 What is a feature of a monopolistically competitive market?

(a) A dominant supplier that sets high prices

(b) Collusion between firms to set prices

(c) Firms have limited influence over prices

(d) High barriers to entry for new firms
[1]




© OCR 2024

, 3
4 A business operates from four sites.
The Human Resources manager has collected some data for last year.

Site A Site B Site C Site D

Size of workforce 45 50 70 85
Number of employees
7 6 8 11
leaving during the year


Which site had the lowest rate of labour turnover?

(a) Site A

(b) Site B

(c) Site C

(d) Site D
[1]


5 What is a social factor that is likely to lead to a decrease in demand for a fish and chip shop?

(a) A rival fish and chip shop introduces meal deals

(b) A significant increase in the local unemployment rate

(c) More consumers choose to eat home cooked food

(d) More student accommodation is built in the area
[1]


6 Which statement about uncertainty is not true?

(a) Uncertainty makes an external adverse event more likely

(b) Uncertainty makes decision-making more difficult

(c) Uncertainty makes planning more important

(d) Uncertainty makes risk management more complicated
[1]




© OCR 2024 Turn over

, 4
7 A small business is likely to:

(a) experience diseconomies of scale

(b) experience shared objectives and a unity of purpose

(c) have complex lines of communication

(d) have employees who feel remote and alienated
[1]


8 A sole trader’s budgeted financial data is shown in the table.

Fixed costs £3480

Variable cost per unit £0.50

Selling price per unit £4.50

Total units sold 2000


If the actual profit is £6000, what is the profit variance?

(a) £480 adverse

(b) £480 favourable

(c) £1480 adverse

(d) £1480 favourable
[1]


9 What is likely to be a human resource management objective in a hotel?

(a) To introduce a loyalty card scheme for regular guests

(b) To recruit additional cleaning staff for the summer season

(c) To redecorate all the bedrooms during the winter months

(d) To update the restaurant’s menu to include more local produce
[1]




© OCR 2024

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