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:
- Generating wealth
- Personal satisfaction
- Maximising profit
- Regular income
Show the workings to arrive at your answer, and explain and justify your reasons:
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This multiple choice question is suitable for Business Studies KS4 & KS3 classes
The answer is 2:
- Generating wealth – is not correct because generating wealth is a financial objective.
- Personal satisfaction – is correct because it is a non-financial objective.
- Maximising profit – is not correct because maximisation of profit is a financial objective.
- Regular income – is not correct because income is financial.
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