Daily Practice

GCSE Business

29th November 2024

5 questions · GCSE · 503 questions in this band

1
Financial statements: the income statement and statement of financial position
A business has revenue of 50,000 pounds and cost of sales of 21,000 pounds. Calculate its gross profit.
2
Analysing financial statements: ratio analysis
Why is comparing a ratio to a previous year usually more useful than looking at the ratio for a single year alone?
3
Capital Expenditure and Revenue Expenditure
Why does the classification of an item as capital or revenue expenditure matter for calculating that year's profit?
4
Choosing the Right Source of Finance for a Business Scenario
A start-up needs 200,000 pounds to buy premises it will use for the next 20 years. Is this a short-term or a long-term finance need? Explain.
5
Break-Even: The Effect of Changes in Price, Costs and Output
Using your answer above, if fixed costs are 3,600 pounds, calculate the break-even output.

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