Applied business unit 3 financial planning and monitoring

A great way to help you memorise unit 3

what is a sole trader
a business owned by one person
1 of 5
what does a business plan include?
aims/ objectives and location etc.
2 of 5
what is meant by fixed costs?
costs that do not change as the business output increases
3 of 5
how would a business plan benefit a business
it will help them obtain an external source of finance such as a bank loan
4 of 5
how do you calculate profit?
=revenue - total costs
5 of 5

Other cards in this set

Card 2

Front

what does a business plan include?

Back

aims/ objectives and location etc.

Card 3

Front

what is meant by fixed costs?

Back

Preview of the front of card 3

Card 4

Front

how would a business plan benefit a business

Back

Preview of the front of card 4

Card 5

Front

how do you calculate profit?

Back

Preview of the front of card 5

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