Putting a Business Idea into Practice GCSE Business Quiz
Test your knowledge of Putting a Business Idea into Practice with this quiz.
This quiz consists of 15 questions, including multiple-choice and short-answer questions.
For multiple-choice questions, choose the correct answer.
Questions
What is the difference between business aims and business objectives?
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Which of the following is an example of a business objective?
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What is meant by business revenue?
The total amount of money spent by customers on the business’s products or services.
What are fixed costs in a business?
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Which of the following is a variable cost for a business?
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What is the formula for calculating profit?
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Why is cash important to a business?
It enables businesses to pay for day-to-day expenses and avoid running out of money.
What is a cash-flow forecast?
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What can a cash-flow forecast help a business to identify?
Potential cash shortages and surpluses in the future.
If a business has a cash-flow problem, what might it need to do?
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What are start-up costs for a new business?
Start-up costs are the initial expenses that a business incurs when it is first established, such as equipment, premises, and marketing.
Name two external sources of finance for a small business.
Bank loans and crowdfunding.
What is an overdraft as a source of finance for a business?
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Which of the following is an advantage of using personal savings to finance a business?
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What is venture capital?
Funds provided by investors to support high-risk, high-growth businesses.
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