BTEC Unit 2 Finance

Help with unit 2 exam in BTEC

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1. Describe the purpose of a statement of financial position (balance sheet)

  • To predict the financial position of the business
  • To show the financial position of a business at a point in time
  • To show what a business owns
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Other questions in this quiz

2. What is the formula for working capital?

  • Current liabilites/Current assets
  • Current assets + current liabilites
  • Current assets – current liabilites
  • Current assets/ current liabilites

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 the following best describes capital?

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

5. 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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