Exam (elaborations)
AQA A LEVEL BUSINESS STUDIES - BUSS2 TEST WITH GRADE A SOLUTIONS
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AQA A LEVEL BUSINESS STUDIES - BUSS2 TEST WITH GRADE A SOLUTIONS
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AQA A LEVEL BUSINESS STUDIES -BUSS2 TEST WITH GRADE A
SOLUTIONS
Budget b- b bcorrect banswer-An bagreed bplan, bestablishing, bin bnumerical band bfinancial
bterms, bthe bpolicy bto bbe bpursued band bthe banticipated boutcomes bof bthat bpolicy
SMART b- b bcorrect banswer-How bbudgets bmust bbe:
Specific
Measurable
Agreed
Realistic
Timed
Variance bAnalysis b- b bcorrect banswer-The bprocess bby bwhich bthe boutcomes bof
bbudgets bare bexamined band bthen bcompared bwith bthe bbudgeted bfigures
Favourable bVariance b- b bcorrect banswer-When bcosts bare bless bthan bexpected, bor
brevenue bis bmore bthan bexpected
Adverse bVariance b- b bcorrect banswer-When bcosts bare bhigher bthan bexpected bor
brevenue bis blower bthan bexpected
Bank bOverdraft b- b bcorrect banswer-When bthe bholder bof ba bcurrent baccount bis ballowed
bto bwithdraw bmore bmoney bthan bis bin bthe baccount. bThere bis ban bagreed bmaximum
Short-term bLoan b- b bcorrect banswer-Money bleant bfrom ba bbank bto bbe brepayed bsubject
bto bpre-agreed bterms band binterest bpayments
, Factoring b- b bcorrect banswer-When ba bfactoring bcompqany bbuys bthe bright bto bcollect
bmoney bfrom bcredit bsales bof ban borganisation
Sale bof bAssets b- b bcorrect banswer-When ba bbusiness btransfers bownership bof ban bitem
bthat bit bowns bto banother bbusiness b/ bindividual, busually bin breturn bfor bcash
Sale band bLease bBack b- b bcorrect banswer-When ban basset bis bsold bto bprovide
bimmediate bcash bflow band bthen bleased bback bover ba bfixed bperiod
Working bCapital b- b bcorrect banswer-Day-to-day bfinance bused bin ba bbusiness,
bconsisting bof bassets b- bliabilities
Profit b- b bcorrect banswer-The bmoney bretained bby ba bbusiness bafter ball bcosts bhave
bbeen bdeducted
Profitability b- b bcorrect banswer-The befficiency bo ba bbusiness bin bgenerating bprofit
Net bProfit bMargin b- b bcorrect banswer-Measures bnet bprofit bas ba bpercentage bof bsales. bA
bhigh bnet bprofit bmargin bis bdesired
Return bon bCapital b- b bcorrect banswer-Measures bprofit bin brelation bto bthe bcapital
binvested bin ba bbusiness
Capital bInvested b- b bcorrect banswer-All bof bthe bmoney bprovided bto bthe bbusiness bby bits
bowners
Liquidity b- b bcorrect banswer-The bability bto bconvert ban basset binto bcash bwithout bloss bor
bdelay
Organisational bStructure b- b bcorrect banswer-Relationship bbetween bdifferent bpeople
band bfunctions bin ban borganisation, bboth bvertically band bhorizontally
Organisation bChart b- b bcorrect banswer-A bdiagram bshowing bthe blines bof bauthority band
baccountability bin ban borganisation
Organisational bHierarchy b- b bcorrect banswer-Vertical bdivision bof bauthority band
baccountability bin ban borganisation
Levels bof bHierarchy b- b bcorrect banswer-Number bof bdifferent bsupervisory band
bmanagement blevels bbetween bshop bfloor band bchief bexecutive
Span bof bControl b- b bcorrect banswer-The bnumber bof bsubordinates bof bwhom ba bmanager
bis brequired bto bsupervise bdirectly
Delegation b- b bcorrect banswer-Process bof bpassing bauthority bdown bthe bhierarchy bfrom
ba bmanager bto ba bsubordinate
Responsibility b- b bcorrect banswer-an bobligation bor bduty bfor bwhich ba bperson bis bheld
baccountable
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