BTEC Unit 2 Finance

Help with unit 2 exam in BTEC

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1. Define Variable cost

  • A cost which stays the same every month
  • A cost which changes directly with output
  • A cost which the business pays to set up the business
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2. Which of the following best describes capital?

  • The expense over the year
  • How a business is funded
  • The earnings over the year
  • What the business owes

3. Define start up cost

  • A cost which changes directly with output
  • The costs incurred when setting up a business
  • A cost which stays the same every month

4. Which of these are types of assets which would appear on the balance sheet?

  • Advertising
  • Machine
  • Sales

5. Which of the following are an internal source of funds for a business?

  • Retained profit
  • Mortgage
  • Bank overdraft

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