Applied Business Exam Questions

Questions from

  • June 2004
  • January 2005
  • June 2006
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  • Created by: Mumina
  • Created on: 12-01-10 20:16
Preview of Applied Business Exam Questions

First 287 words of the document:

These questions have come up in all three papers.
Must know the answers to:-
1. Advantages of using spreadsheets, formulae and errors
2. Liabilities, fixed and current assets (equipment, stock, cash,
customers, suppliers, loan, premises, debts, overdraft, creditors)
3. Fill in invoices or cheques
4. Effects of making errors on invoices and describe errors
5. Identify and describe variable and fixed costs
6. Describe effects of increased fixed costs on the BEP (BE chart)
7. Profit/loss account
8. Start up costs and running costs
9. Sources of finance ­ selling assets, bank loan, retained profits,
buying or leasing, government grant, change to private limited
These questions have come up in two papers.
1. (order and arrows) Cheque, invoice, delivery note, receipt, statement
of account
2. Why would employees, members or the bank be interested in
profit/loss accounts
3. Advantages/disadvantages of paying with credit/debit cards, cash,
customers and suppliers
4. Identifying budgets ­ what is a budget ­ how do they help run
5. How do you use budgets to check whether the business is doing well
or not
6. BE charts ­ labels
7. Cash flow forecast ­ why will they help when planning for the future
8. Methods of payment ­ cheque, credit card, cash, direct debit, debit
9. Difference between credit/debit card ­ how to use
These questions have only come up once.
Maybe not:-
1. Why do you still make errors on the computer
2. Why would the bank be interested in a balance sheet
3. Why is a remittance advice sent with a cheque
4. What is venture capital
5. Fill in purchase order


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