AQA A LEVEL BUSINESS UNIT 7 COMPLETE
STUDY GUIDE PRACTICE QUESTIONS AND
ANSWERS
| GRADED A+ | GUARANTEED SUCCESS
Updated 2026 Questions and Answers
100% Verified Exam Prep and Comprehensive
Rationales Included
, Strategic decision making decisions based on the direction of the business
Functional decision making decisions based on what departments should do
Aims generalised statement of where business is are heading
Balance Sheet Shows an organisation's assets and liabilities
Assets items that the business owns.
Current assets Assets that will be turned into cash within one year.
Non-current assets What the business owns with a lifespan of more than a year.
Current liabilities Short-term debts of the business
Tangible assets non-current assets that exist physically.
Intangible assets non-current assets that are not physical such as patents
Receivable (debtors) money owed to the company by its customers from sales on credit.
Inventories stock, work-in-progress, finished goods.
Liabilities debts owed by the business
Current liabilities debts due for repayment within one year.
Non-current liabilities debts due for repayment after more than a year.
Payables debts owed to other businesses
STUDY GUIDE PRACTICE QUESTIONS AND
ANSWERS
| GRADED A+ | GUARANTEED SUCCESS
Updated 2026 Questions and Answers
100% Verified Exam Prep and Comprehensive
Rationales Included
, Strategic decision making decisions based on the direction of the business
Functional decision making decisions based on what departments should do
Aims generalised statement of where business is are heading
Balance Sheet Shows an organisation's assets and liabilities
Assets items that the business owns.
Current assets Assets that will be turned into cash within one year.
Non-current assets What the business owns with a lifespan of more than a year.
Current liabilities Short-term debts of the business
Tangible assets non-current assets that exist physically.
Intangible assets non-current assets that are not physical such as patents
Receivable (debtors) money owed to the company by its customers from sales on credit.
Inventories stock, work-in-progress, finished goods.
Liabilities debts owed by the business
Current liabilities debts due for repayment within one year.
Non-current liabilities debts due for repayment after more than a year.
Payables debts owed to other businesses
