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Btec Business Review Test Final Questions & Answers 2024/2025
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Btec Business Review Test Final Questions & Answers 2024/2025 Breakeven - ANSWERSWhen revenue and expenditure are the same. there is no profit or loss variable costs - ANSWERSraw materials, change as output increases margin of safety - ANSWERSis the amount by which sales would have to fa...

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  • August 23, 2024
  • 6
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • btec business review test final questions answer

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  • Btec Business
  • Btec Business

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Btec Business Review Test Final
Questions & Answers 2024/2025

Breakeven - ANSWERSWhen revenue and expenditure are the same. there is no profit or loss



variable costs - ANSWERSraw materials, change as output increases



margin of safety - ANSWERSis the amount by which sales would have to fall before the break-even point
is reached



total costs - ANSWERSfixed costs plus variable costs



break-even point - ANSWERSwhen a business has made enough money through product sales to cover
the cost of making the product



selling price - ANSWERStotal revenue divided by maximum number of products



increasing the price - ANSWERSbreak even point falls



reduce the price - ANSWERSbreak even point becomes higher



break even analysis - ANSWERSplanning tool that helps businesses to make the right decisions and
increase their chances of success



benefits of break even analysis - ANSWERSbusiness knows the fixed and variable costs linked to a
product.

the business can set the best price for a product.

it allows the business to set a margin of safety.

, risks of ignoring breakeven analysis - ANSWERSthe business does not know the costs of production and
running costs.

the business does not know how many items it must sell to make a profit.

the business may make a loss without realising or knowing why.



break even point will change - ANSWERSif costs change or if the selling price changes



if costs fall - ANSWERSthe breakeven point is lower so the business makes a profit



the lower the breakeven point - ANSWERSthe fewer the sales needed to make a profit



total sales revenue formula - ANSWERSnumber of sales times price per unit



to make a profit - ANSWERSrevenue must be higher than expenditure



profit formula - ANSWERSrevenue take away expenditure



netflow/outflow formula - ANSWERSinflows take away outflows



net inflow - ANSWERSincreases money already in the bank



net outflow - ANSWERSreduces the money already in the bank



improving inflows - ANSWERSchase up late payments.

avoid giving credit to unknown customers.

give discounts for early payment.



improving outflows - ANSWERSdelay some payments.

reduce stock levels.

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