Business Studies Multiple Choice Question – 12 January 2019

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

Bob set up Bob’s Musical Fun (BMF). BMF is a high street shop that sells only rare vinyl records. BMF also takes bookings for a number of local bands. The customer asks BMF for a band that plays a particular type of music and BMF finds a band that suits the request. Bob needs a loan to expand his business. As BMF is an established business, the bank agreed to a loan with an interest rate of 6.0%.

Which one of the following would be a non-financial objective for Bob?

Select ONE answer:

  1. Generating wealth
  2. Personal satisfaction
  3. Maximising profit
  4. Regular income

 

Show the workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple choice question is suitable for Business Studies KS4 & KS3 classes

The answer is 2:

  1. Generating wealth – is not correct because generating wealth is a financial objective.
  2. Personal satisfaction – is correct because it is a non-financial objective.
  3. Maximising profit – is not correct because maximisation of profit is a financial objective.
  4. Regular income – is not correct because income is financial.

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