Tag: A-Level

Economics Multiple Choice Question – 7 August 2018

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

When the price of a theatre ticket increases from £5 to £7, the number of tickets demanded decreases from 600 to 400 a day. What is the price elasticity of demand for theatre tickets?

Select ONE answer:

  1. 2.32
  2. 1.20
  3. 1.00
  4. 0.83

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

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

This is a multiple choice question is suitable for Economics KS5 classes.

The answer is 2

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Economics Multiple Choice Question – 6 August 2018

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

The price elasticity of demand equals the magnitude of …..

Select ONE answer:

  1. the slope of the demand curve. 
  2. the percentage change in the price of a good divided by the percentage change in the quantity demanded. 
  3. the inverse of the slope of the demand curve. 
  4. the percentage change in the quantity demanded of a good divided by the percentage change in its price.

Explain how the introduction of new technology may cause a shift in the supply curve:

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

This is multiple choice question is suitable for Economics KS5 classes.

The answer is 4

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Accounting Multiple Choice Question – 24 July 2018

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

Wood Elf Ltd has provided a list of its assets and liabilities as at 31 December 2017 as follows:

  • Long-Term Assets £1.8M
  • Inventory £2.7M
  • Accounts Receivables £1.5M
  • Bank Account £0.4M
  • Cash £0.1M
  • Accounts Payable £2.9M
  • Long-term Bank Loan £4M
  • Reserves  £1.5M
  • Share Capital £1.0M
  • Revenue  £25.8M
  • Cost-of-Sales  £20.0M
  • Net Profit Margin  £2.5M
  • Purchases  £11.5M

What is Wood Elf’s Capital Gearing percentage ratio?

Select ONE answer:

  1. 10.00
  2. 26.32
  3. 92.04
  4. 36.5
  5. 61.54

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

This is multiple choice question is suitable for Accounting KS5 classes.

The answer is 5 – £4M / (£4M + £1.5M + £1.0M) * 100 = 61.54%

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Accounting Multiple Choice Question – 23 July 2018

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

Wood Elf Ltd has provided a list of its assets and liabilities as at 31 December 2017 as follows:

  • Long-Term Assets £1.8M
  • Inventory £2.7M
  • Accounts Receivables £1.5M
  • Bank Account £0.4M
  • Cash £0.1M
  • Accounts Payable £2.9M
  • Long-term Bank Loan £4M
  • Reserves  £1.5M
  • Share Capital £1.0M
  • Revenue  £25.8M
  • Cost-of-Sales  £20.0M
  • Net Profit Margin  £2.5M
  • Purchases  £11.5M

What is Wood Elf’s Trade Payable Days ratio?

Select ONE answer:

  1. 10.00
  2. 26.32
  3. 92.04
  4. 36.5
  5. 61.54

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

This is multiple choice question is suitable for Accounting KS5 classes.

The answer is 3 – £2.9M / £11.5M * 365 days = 92.04 days

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Accounting Multiple Choice Question – 22 July 2018

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

Wood Elf Ltd has provided a list of its assets and liabilities as at 31 December 2017 as follows:

  • Long-Term Assets £1.8M
  • Inventory £2.7M
  • Accounts Receivables £1.5M
  • Bank Account £0.4M
  • Cash £0.1M
  • Accounts Payable £2.9M
  • Long-term Bank Loan £4M
  • Reserves  £1.5M
  • Share Capital £1.0M
  • Revenue  £25.8M
  • Cost-of-Sales  £20.0M
  • Net Profit Margin  £2.5M
  • Purchases  £11.5M

What is Wood Elf’s Trade Receivable Days ratio?

Select ONE answer:

  1. 7.41
  2. 21.22
  3. 1.62
  4. 49.28
  5. 0.67

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

This is multiple choice question is suitable for Accounting KS5 classes.

The answer is 2 – £1.5M/ £25.8M * 365 days = 21.22 days

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This work is licensed under a Creative Commons Attribution 4.0 International License.