Tag: KS5

Economics Multiple Choice Question – 14 April 2023

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

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What is meant by ‘ceteris paribus’ in economic analysis?

Select ONE answer:

  1. A normative approach is being adopted.
  2. The effect of a change of one variable is being considered in isolation.
  3. One good has to be sacrificed to obtain more of another.
  4. One factor of production is fixed.

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

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

This multiple-choice question is suitable for Economics KS4 and KS5 classes.

The answer is 2

  1. Not correct
  2. Correct
  3. Not correct
  4. Not correct

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Economics Multiple Choice Question – 13 April 2023

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

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In a market economy, what is the basis for determining the allocation of factors of production.

Select ONE answer:

  1. the market share of companies
  2. the needs of the country
  3. the pattern of consumers’ spending
  4. the wealth of entrepreneurs

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

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

This multiple-choice question is suitable for Economics KS4 and KS5 classes.

The answer is 3

  1. Not correct
  2. Not correct
  3. Correct
  4. Not correct

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

Accounting Multiple Choice Question – 12 April 2023

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

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What is the net present value of an investment equal to when the internal rate of return is calculated?

Select ONE answer:

  1. the aggregate anticipated future cash income at compound interest
  2. the initial expenditure on the investment
  3. the resale value of the asset on completion of the project
  4. zero

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

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

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

The answer is 4

  1. Not correct
  2. Not correct
  3. Not correct
  4. Correct

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

Accounting Multiple Choice Question – 11 April 2023

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

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What does this formula show?

  •   Average annual profit / Average investment

Select ONE answer:

  1. accounting rate of return
  2. internal rate of return
  3. net present value
  4. payback period

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

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

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

The answer is 1

  1. Correct
  2. Not correct
  3. Not correct
  4. Not correct

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

Accounting Multiple Choice Question – 10 April 2023

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

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A company has a standard labour cost for one unit of 8 hours of direct labour at £6 per hour.

In a given period 540 units were produced in 4,300 hours at a total direct labour cost of £26,660.

What is the labour efficiency variance for the period?

Select ONE answer:

  1. £120 adverse
  2. £120 favourable
  3. £860 adverse
  4. £860 favourable

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

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

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

The answer is 2

  1. Not correct
  2. Correct – 540 units * 8 hours = 4,320 hours – 4,300 actual hours so 20 hours * £6 = £120 favourable
  3. Not correct
  4. Not correct

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