BTEC Unit 2 Finance

Help with unit 2 exam in BTEC

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Define Variable cost
A cost which changes directly with output
1 of 6
Define start up cost
The costs incurred when setting up a business
2 of 6
Describe the purpose of a statement of financial position (balance sheet)
To show the financial position of a business at a point in time
3 of 6
Explain what a cash deficit is
When there is more money going out than coming in
4 of 6
The business sell books for £12 each. They cost £5 to make. The fixed costs are £735. Calulate the break even
105 books
5 of 6
What is the formula for working capital?
Current assets – current liabilites
6 of 6

Other cards in this set

Card 2

Front

Define start up cost

Back

The costs incurred when setting up a business

Card 3

Front

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

Back

Preview of the front of card 3

Card 4

Front

Explain what a cash deficit is

Back

Preview of the front of card 4

Card 5

Front

The business sell books for £12 each. They cost £5 to make. The fixed costs are £735. Calulate the break even

Back

Preview of the front of card 5
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emily_jade

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It does not actually give you your score or answers!!

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