AQA AS BUSINESS LATEST UPDATED FINAL 2024
WITH COMPLETE DETAILED QUESTIONS AND
CORRECT VERIFIED ANSWERS ALREADY A+
GRADED
Fixed Cost - ANSWER-Costs which do not vary
according to output i.e. rent
Variable Cost - ANSWER-Costs which very
according to output i.e. raw ingredients
Total Costs - ANSWER-Fixed + variable costs
Break even point - ANSWER-The point at which
total cost = total revenues. The point where no
profit or loss is made.
,Contribution per unit - ANSWER-Selling price
per unit - variable cost per unit. The
contribution of each sale towards fixed costs
.
Objectives - ANSWER-A stated goal or target of
a business i.e. 5% growth year on year
Revenue - ANSWER-Also called turnover. The
money coming in from the sale of goods and
services. Calculated as Price x Number sold.
Sole Trader - ANSWER-Business with one owner
and unlimited liability for the debts of the
business
Private Limited Company (Ltd) - ANSWER-An
organisation which is a separate entity from the
business owner. Has shares not traded on the
, stock exchange and benefits from limited
liability.
Public Limited Company (PLC) - ANSWER-A
limited liability organisation whose shares are
traded freely on the stock exchange.
Private Sector Organisations - ANSWER-Those
businesses not owned by the government
Public Sector Organisations - ANSWER-Those
businesses owned and operated by the public
and funded from tax
Non-Profit Organisations - ANSWER-Those
organisations that exist for reasons other than
to make a profit such as charities
WITH COMPLETE DETAILED QUESTIONS AND
CORRECT VERIFIED ANSWERS ALREADY A+
GRADED
Fixed Cost - ANSWER-Costs which do not vary
according to output i.e. rent
Variable Cost - ANSWER-Costs which very
according to output i.e. raw ingredients
Total Costs - ANSWER-Fixed + variable costs
Break even point - ANSWER-The point at which
total cost = total revenues. The point where no
profit or loss is made.
,Contribution per unit - ANSWER-Selling price
per unit - variable cost per unit. The
contribution of each sale towards fixed costs
.
Objectives - ANSWER-A stated goal or target of
a business i.e. 5% growth year on year
Revenue - ANSWER-Also called turnover. The
money coming in from the sale of goods and
services. Calculated as Price x Number sold.
Sole Trader - ANSWER-Business with one owner
and unlimited liability for the debts of the
business
Private Limited Company (Ltd) - ANSWER-An
organisation which is a separate entity from the
business owner. Has shares not traded on the
, stock exchange and benefits from limited
liability.
Public Limited Company (PLC) - ANSWER-A
limited liability organisation whose shares are
traded freely on the stock exchange.
Private Sector Organisations - ANSWER-Those
businesses not owned by the government
Public Sector Organisations - ANSWER-Those
businesses owned and operated by the public
and funded from tax
Non-Profit Organisations - ANSWER-Those
organisations that exist for reasons other than
to make a profit such as charities
