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Unit 2 Finance Exam Answers £7.00
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Exam (elaborations)

Unit 2 Finance Exam Answers

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Within this document, it shows u the answers that you should have written or included in your answers and before purchasing this try the Exam Preparation question so you can check your memorising skills which will give you any clear objective.

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  • March 1, 2021
  • 16
  • 2018/2019
  • Exam (elaborations)
  • Questions & answers
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Student Name___________________
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Mock Assessment Unit 2
Mock 7
52 Points

,[Type text]


Exercise 1

Give two examples of direct costs. (2)


Raw Materials
Example 1:



Example 2:
Labour/wages




Exercise 2

Explain what running costs are. (2)



Day to day costs

Reoccurring costs



Give examples



Costs that allow you to keep trading for example pay wages and
suppliers

, [Type text]


Exercise 3

Nora sells handbags in her shop in Ruislip.

Which of the following is a start-up cost? (1)


Tick one of the boxes

Heating

Raw materials 
Income

Staff wages




Exercise 4

Nora has expanded her business and now has a shop in Hayes.



Give two examples of fixed costs (2)

Write your answers in the boxes

Example 1:
Rent

Example 2:
Insurance


Give two examples of the variable costs (2)

Example 1:
Raw Materials
Example 2:
Labour/wages

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