HSC Business Studies Question Thread

[_____]

Multiple choice:

"Jackson's Patisserie Pty Ltd provided the following data based on the revenue statement for the year ended 30 June 2014.

Total revenue: $5000
Net Profit Ratio: 5%
Gross Profit Ratio: 60%

The Gross Profit Ratio has increased from 40% in 2013 to 60% in 2014, while revenue and expenses remained the same. What was the net profit or loss for 2013?

A: $2000 net profit
B: $500 net loss
C: $750 net profit
D: $750 net loss"

Answer is A. I've found it to be D.

My working:



Where am I going wrong?

[HSCNewcastle2017]

awesome! the maccas case study is pretty good aye? don't worry if you can't remember the figures for finance... just make them up - the markers can't exactly whip out google every time they see a figure, right? 😜 yea that sounds good; every time you're writing about a syllabus point, try and integrate a case study :-) best of luck for your hsc!

Thank you. I don't mind the maccas case study especially for marketing as it covers pretty much everything of that topic in detail and I got a mark of 18/20 in my last exam. However in the trial, the two questions asked about finance and human resources - I obviously attempted the one on HR and only got 14/20, apparently I needed to use another case study or I didn't use the Maccas one effectively. I just found some Apple and QANTAS case studies thanks to my best friend google (not literally) which may assist the points not covered by Maccas. If the extended response question happens to be on finance and I can't make anything up, there will always be another question on any of the three other topics I suppose anyway.

[Juliesokha]

Thank you all for replying!
Anyways, one more thing I just want to know if my way of writing a paragraph in an extended response is okay/correct (I know there's no right or wrong answer to this but I just want to be on the safe side) 
So, for example if the question is about marketing strategies then I'd start the first sentence by defining it then explaining it and then link that strategy back to the question (i.e if the question is asking about how does it help to improve the performance). After that, I'd include my case studies then I'd talk about those case studies and link them back to how they can help the businesses to blah blah etc.

[HSCNewcastle2017]

Thank you all for replying!
Anyways, one more thing I just want to know if my way of writing a paragraph in an extended response is okay/correct (I know there's no right or wrong answer to this but I just want to be on the safe side) 
So, for example if the question is about marketing strategies then I'd start the first sentence by defining it then explaining it and then link that strategy back to the question (i.e if the question is asking about how does it help to improve the performance). After that, I'd include my case studies then I'd talk about those case studies and link them back to how they can help the businesses to blah blah etc.

Yep, you're definitely on the right track. For my intro, I would normally create a thesis, introduce the strategies that I'm going to discuss, introduce the case study and then link back to the question. For the body paragraphs, would illustrate each point with a case study and then link back to the question and also the marketing objectives.

For example your intro could start off as:
The marketing strategies implemented by a business are crucial to improving business performance. Marketing strategies include ... which result in ...  The (Case study, e.g. Maccas) is a key global business through which one can see the importance of using a selection of marketing strategies.

[Juliesokha]

Yep, you're definitely on the right track. For my intro, I would normally create a thesis, introduce the strategies that I'm going to discuss, introduce the case study and then link back to the question. For the body paragraphs, would illustrate each point with a case study and then link back to the question and also the marketing objectives.

For example your intro could start off as:
The marketing strategies implemented by a business are crucial to improving business performance. Marketing strategies include ... which result in ...  The (Case study, e.g. Maccas) is a key global business through which one can see the importance of using a selection of marketing strategies.

Ohh nice, I've never introduced case studies in my intro. That's a new good way of approaching it Thank you! Good luck by the way!!

[HSCNewcastle2017]

Ohh nice, I've never introduced case studies in my intro. That's a new good way of approaching it Thank you! Good luck by the way!!

Good luck

[aitks0117]

Hi! Could someone please help me? I don't know how the critical path works! I keep getting different answers along the lines of "it's the shortest path" or "the longest path"... Someone even started a poll on Facebook, and it seems almost 50/50!

I would upload the photo of an example, but it won't let me unless it's in another format...

Okay so...
Critical path analysis is the shortest amount of time all of the tasks can be completed. However, say for example in a multiple choice question they ask how long the task will take, you need to count the highest number of days it will take to complete. Confusing yes, but, remember that while you are completing the tasks that take a longer amount of time you are also completing multiple shorter tasks so they are completed at the same time! I have attached an example below. The shortest time all of these tasks can be completed is 5 days + 6 days + 5 days + 2 days = 18 days. While the 6 day and 5 day task is being completed between BF and CF, so are the tasks between BE and EC.
Hopefully that helps a bit, good luck!

[Thebarman]

How do we express our answers for each financial ratio? Would we mainly use percentages? Also, which ratio requires us to answer in both a ratio and percentage?

[MisterNeo]

How do we express our answers for each financial ratio? Would we mainly use percentages? Also, which ratio requires us to answer in both a ratio and percentage?

Ratio form:
-Debt to equity ratio
-Current ratio
-Accounts turnover ratio
-Return on equity ratio
Percentage form:
-Gross Ratio
-Net Ratio
-Expenses Ratio

The things you find on a balance sheet are usually written in ratio form, whereas the things on an income statement are written as percentages.

[Mathew587]

Ratio form:
-Debt to equity ratio
-Current ratio
-Accounts turnover ratio
-Return on equity ratio
Percentage form:
-Gross Ratio
-Net Ratio
-Expenses Ratio

The things you find on a balance sheet are usually written in ratio form, whereas the things on an income statement are written as percentages.

you can write all calculations in percentage and in ratio form. my business teacher personally stood up this year at a teachers meeting and asked that q. both are accepted

[rodero]

How do we express our answers for each financial ratio? Would we mainly use percentages? Also, which ratio requires us to answer in both a ratio and percentage?

you can write all calculations in percentage and in ratio form. my business teacher personally stood up this year at a teachers meeting and asked that q. both are accepted

^ This.

I've also looked at a few answer sheets and the possible answers included both a ratio or percentage. It could potentially be better for you to know what requires what, but it may not be necessary

[_____]

Anyone have any ideas about this? https://atarnotes.com/forum/index.php?topic=168311.msg985563#msg985563

I'm pulling my hair out trying to figure out where I've messed up 

[MisterNeo]

Anyone have any ideas about this? https://atarnotes.com/forum/index.php?topic=168311.msg985563#msg985563

I'm pulling my hair out trying to figure out where I've messed up 

Which paper is this from? It could have been an error, or there is some bizarre trick to the wording of the question. 

[hansolo9]

In the HSC, do we use simple FIFO/LIFO inventory valuation where every month is done by one month’s price, or the complex method where each month’s price is taken into  account?

[gkim1]

Hey there!

Would someone be able to explain how the answers to a gross profit ratio or expense ratio work? So, what I mean by that is, if I get a percentage of 30% using the gross profit ratio, does that imply that the business has made an improvement or is it a loss? I know that generally, if ratios are higher, it is considered better for a business but I'm stuck on this question on a past paper and the answers say that the gross profit has risen?

I'm working on the 2015 Business HSC paper - multiple choice questions 16 and 17 (connected question). I'm not sure if what I've written makes a lot of sense but I'm so confused aha. Some help would be greatly appreciated!