Bece Model Questions Vol1 2024 Business Studies Question 1

Practice practical question 1 from the 2024 Bece Model Questions Vol1 Business Studies examination. This question covers Introduction to Business, Business Types, Stakeholders .

Bece Model Questions Vol1 2024 Business Studies Practical
Topics: Introduction to Business Business Types Stakeholders
Question 1 BECE_MODEL_QUESTIONS_VOL1 • 2024 • BUSINESS_STUDIES • practical

A student visited a local bakery named "Sweet Treats" which is owned by Mrs. Ada Okoro. The bakery started operations on 1 January 2022 with an initial capital of ₦500,000 contributed solely by Mrs. Okoro. It operates from a rented shop in the market and sells cakes, pastries and bread. The business employs two assistants and purchases raw materials from a single supplier.

Question Parts

( a )
Identify the form of business organization of Sweet Treats.
( b )
State two advantages of this form of organization for Mrs. Okoro.
( c )
List three categories of stakeholders of Sweet Treats and give one specific interest for each category.
( d )
The bakery recorded the following sales for the month of March 2024: Cash sales ₦120,000, Credit sales ₦80,000. The cost of goods sold for the month was ₦100,000. Calculate the gross profit for the month and express it as a percentage of total sales (gross profit margin).

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About This Question

This is Bece Model Questions Vol1 2024 Business Studies Question 1. It is one of the practical questions from the 2024 Bece Model Questions Vol1 Business Studies examination.

The question covers Introduction to Business, Business Types, Stakeholders .

View More Bece Model Questions Vol1 2024 Business Studies Questions More Bece Model Questions Vol1 Practice Questions Back to Questions

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