Lesson 1.3.1a
1.3.1a Financial aims and objectives when starting up Quiz: Pearson Edexcel Business, Unit 3
20 questions
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Lesson 1.3.1a, Financial aims and objectives when starting up: 20 multiple choice questions for the Pearson Edexcel GCSE Business (1BS0), Unit 3: Putting a business idea into practice, written with Revision Ninja.
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The 20 questions
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Which of these is a primary financial aim for a business starting up?
- Stock market flotation
- Survival
- Immediate diversification
- Global takeover
-
A new business aims to win 15% of the local market within two years. Which financial aim is this?
- Personal satisfaction
- Market share
- Independence
- Social objectives
-
Having sufficient money reserves to cope with unexpected startup costs relates to which aim?
- Rapid liquidation
- Financial security
- Uncapped borrowing
- Mass production
-
What is the primary benefit of aiming for early sales growth in a start-up?
- Lowering costs
- Reducing taxes
- Building revenue
- Stopping competition
-
A business aims to make £20,000 profit in year one. What type of aim is this?
- Non-financial aim
- Financial aim
- Operational aim
- Social aim
-
What is the most likely priority for a new start-up with very little cash?
- Expansion
- Acquisition
- Survival
- Diversification
-
Which financial aim relates to the amount of business a firm does compared with its rivals?
- Survival
- Market share
- Profit
- Financial security
-
What does profit mainly act as for the owner of a new business?
- Grant funding
- Tax rebate
- Risk reward
- Loan repayment
-
Which of these is an example of a measurable financial objective?
- Good brand image
- High customer care
- Happy employees
- 500 units monthly
-
A start-up aims to reach break-even within 12 months. Which type of aim is this?
- Financial aim
- Social aim
- Environmental aim
- Ethical aim
-
Which of these is classified as a financial aim?
- Expanding staff
- Boosting fame
- Improving ethics
- Increasing revenue
-
Which financial aim helps a business protect itself from sudden cash shortages?
- High dividends
- Massive borrowing
- Financial security
- Rapid expansion
-
Why might a start-up set a sales target rather than a profit target initially?
- Taxes are zero
- Easier to measure
- Costs never exist
- Profit is illegal
-
Which financial aim describes keeping the business trading for its first few years?
- Personal satisfaction
- Survival
- Independence
- Social objectives
-
What type of business aim is holding 5% of the local market?
- Financial aim
- Ethical goal
- Survival aim
- Social objective
-
What makes sales targets more practical than profit targets for early start-ups?
- Sales are free
- Profit is banned
- Easier to track
- Costs are fixed
-
Which of these is a typical financial aim for a new start-up?
- Reaching break-even
- Zero employees
- Maximum waste
- Highest borrowing
-
A business targets £50,000 revenue in year one. What type of aim is this?
- Operational aim
- Ethical aim
- Financial aim
- Quality aim
-
Which objective is directly linked to achieving financial security?
- High advertising
- Staff parties
- More borrowing
- Cash reserves
-
What is the primary link between financial aims and business survival?
- Hiring managers
- Paying bills
- Renting offices
- Winning awards
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