Tag: KS5

Economics Multiple Choice Question – 3 December 2022

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 most likely to be increased by a policy of increased direct taxes and lower government spending?

Select ONE answer:

  1. the balance of payments deficit
  2. the budget deficit
  3. the rate of inflation
  4. the level of unemployment

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 4

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

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Accounting Multiple Choice Question – 3 September 2022

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

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Which statement about standard costing is NOT true?

Select ONE answer:

  1. It can be used for budgeting.
  2. It can be used for responsibility accounting.
  3. It can be used to calculate marginal costs.
  4. It can be used to calculate the average cost of stock.

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 – 2 September 2022

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

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A business operates a standard costing system.

At the end of the year the hourly rate paid to workers and the production per worker are less than budgeted.

A greater amount of lower priced materials than budgeted has been used.

What is the correct combination of variances?

Select ONE answer:

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
  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 – 1 September 2022

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

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K Limited is planning an advertising campaign to promote its product.

The campaign will cost £14 000.

This is budgeted to increase sales volume in the second half of the year by 12 %.

Sales for the first half of the accounting year are budgeted at 30 000 units at a contribution of £4.20.

How much additional net profit should be budgeted as a result of the advertising campaign?

Select ONE answer:

  1. Nil
  2. £400
  3. £560
  4. £1,120

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 – (30,000 * 0.12 * £4.2) – £14,000

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

Accounting Multiple Choice Question – 31 August 2022

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

apple devices books business coffee
Photo by Serpstat on Pexels.com

A businessman starts trading with a bank balance of £124 000.

The budget for the first three months shows the following:

What is the budgeted opening bank balance at the start of month 3?

Select ONE answer:

  1. £123 000
  2. £158 000
  3. £164 000
  4. £189 000

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 – £124k + £30k + £40k – £12k – £13k + £20k

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