calculating profits insurance forecasting. Description Marks Identifies the most effective risk management strategies 1–2 (1 mark for each strategy) Answer employee training insurance Justify your choice for each selected strategy. Description Marks Strategy 1 Explains a reason for selection and links to risk management 2 States a reason for selection but does not link to risk management 1 Subtotal 2 Strategy 2 Explains a reason for selection and links to risk management 2 States a reason for selection but does not link to risk management 1 Subtotal 2 Total 4 Answer could include, but is not limited to: Justification for employee training enables employees to work more efficiently and more productively, thereby contributing to business productivity and reducing risk of loss of income for the business improves employee self-esteem and self-confidence to undertake their work so employees can more confidently perform their tasks, which in turn contributes to business security and productivity Justification for insurance business is protected against any unforeseen event or circumstance that could negatively impact on the business financially or otherwise, and could receive compensation if such events or circumstances occur (a) Calculate the profit for the period using the appropriate items in the financial extract below. Show all workings. Description Marks Calculates the profit amount (as shown in workings below) 1–7 (1 mark for each item in the workings) Answer could include, but is not limited to: Sales $60,000 (1) Add Interest income 5,000 (1) Add Fees revenue 8,000 (1) $73,000 Less Advertising expense $4, 000 (1) Wages paid 1,000 (1) Bank changes 500 (1) 5,500 PROFIT $67,500 (1)
calculating profits insurance forecasting. Description Marks Identifies the most effective risk management strategies 1–2 (1 mark for each strategy) Answer employee training insurance Justify your choice for each selected strategy. Description Marks Strategy 1 Explains a reason for selection and links to risk management 2 States a reason for selection but does not link to risk management 1 Subtotal 2 Strategy 2 Explains a reason for selection and links to risk management 2 States a reason for selection but does not link to risk management 1 Subtotal 2 Total 4 Answer could include, but is not limited to: Justification for employee training enables employees to work more efficiently and more productively, thereby contributing to business productivity and reducing risk of loss of income for the business improves employee self-esteem and self-confidence to undertake their work so employees can more confidently perform their tasks, which in turn contributes to business security and productivity Justification for insurance business is protected against any unforeseen event or circumstance that could negatively impact on the business financially or otherwise, and could receive compensation if such events or circumstances occur (a) Calculate the profit for the period using the appropriate items in the financial extract below. Show all workings. Description Marks Calculates the profit amount (as shown in workings below) 1–7 (1 mark for each item in the workings) Answer could include, but is not limited to: Sales $60,000 (1) Add Interest income 5,000 (1) Add Fees revenue 8,000 (1) $73,000 Less Advertising expense $4, 000 (1) Wages paid 1,000 (1) Bank changes 500 (1) 5,500 PROFIT $67,500 (1)
Business-Management-and-Enterprise-General-Y11-sample-assessment-tasks-WACE-2015161.docx