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Business

GCSE · AQA

QuestionsFlashcards

The Purpose & Nature of Businesses
Business Ownership
Setting Business Aims & Objectives
Stakeholders
Business Location
Business Planning
Expanding a Business
- Business Expansion
  11
- Economies & Diseconomies of Scale
  12

Technology
Ethical & Environmental Considerations
The Economic Climate
Globalisation
- How UK Businesses Compete Internationally
  7
- Exchange Rates
  5
Legislation
Competitive Environment
- Operating in Competitive Markets
  6
- Risks & Uncertainty
  9

Production Processes
- Producing Goods & Services
  5
- Efficiency in Production
  6
The Role of Procurement
The Concept of Quality
Good Customer Service
- Customer Service in Business
  6
- ICT & Customer Service
  6

Organisational Structures
- Key Principles of Organisational Structures
  11
- Management & Communication in Different Structures
  9
Recruitment & Selection of Employees
Motivating Employees
Training
- The Importance of Training
  6
- Methods of Training
  8

The Exam Papers
- Paper 1: Influences of Operations & HRM on Business Activity
  7
- Paper 2: Influences of Marketing & Finance on Business Activity
  5
Business Exam Skills
Structuring Your Responses

An Introduction to Financial Statements Flashcards

All 5 cards in this deck

What are financial statements?: Documents that record a business's income, expenses, assets and liabilities so that stakeholders can assess performance and make informed decisions.
Name the two main financial statements a limited company produces.: The income statement and the statement of financial position (balance sheet).
True or false? Only public limited companies are legally required to produce financial statements.: False. Both private limited companies (Ltd) and public limited companies must, or they face sanctions such as fines.
Give one drawback to a business of producing financial statements.: They are time-consuming to prepare. They also make it hard to hide financial information from competitors and potential investors.
Name three groups of stakeholders who use a business's financial statements.: Shareholders, employees and suppliers (managers and potential investors also use them).