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WJEC · GCSE · Business Studies

Finance: Financial Statements and Analysis
Practice Questions

40 WJEC GCSE Business Studies questions on Finance: Financial Statements and Analysis, each with instant feedback and a full examiner-style mark scheme.

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✨ Revision guide includes key terms, worked examples and exam technique for Finance: Financial Statements and Analysis.

Try 2 sample questions on Finance: Financial Statements and Analysis

Question 1 · 1 mark · Difficulty 1/3

What is a current liability?

  1. A debt due in more than one year, such as a mortgage
  2. A debt due within a year, such as an overdraft
  3. An asset owned by the business, such as a van
  4. Money received from customers for sales
Show answer & explanation
✓ Answer: B — A debt due within a year, such as an overdraft
Award 1 mark. Current liabilities must be paid soon. The other options (A debt due in more than one year, such as a mortgage; An asset owned by the business, such as a van; and Money received from customers for sales) do not fit.
Question 2 · 1 mark · Difficulty 1/3

What is net cash flow?

  1. Total revenue minus cost of sales
  2. Cash inflows minus cash outflows for a period
  3. Gross profit minus expenses
  4. Assets minus liabilities
Show answer & explanation
✓ Answer: B — Cash inflows minus cash outflows for a period
Award 1 mark. A negative net cash flow means more money left than came in.
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20 questions · 25 min · free

WJEC GCSE Business Studies: Finance: Financial Statements and Analysis FAQ

Is Kramizo free for WJEC GCSE students preparing for Business Studies?
Yes — completely free. Every student gets 45 questions a day on the free plan, with no card required and no trial countdown. That free quota works across every subject and every topic in our bank, so you can mix Finance: Financial Statements and Analysis practice with other Business Studies topics or even switch to a totally different WJEC subject without paying anything. Kramizo's optional Pro plan removes the daily cap and adds detailed progress analytics, but the free tier is the real product — used by thousands of GCSE, IGCSE and CSEC students.
Are the Finance: Financial Statements and Analysis questions aligned to the official WJEC GCSE Business Studies syllabus?
Every question is written against the published WJEC GCSE Business Studies specification, including the exact command words (state, describe, explain, calculate, evaluate, etc.), mark allocations, and difficulty tier you'd see on a real WJEC paper. Explanations are written in the style of official examiner mark schemes — they tell you what is being awarded marks and why distractors are wrong, not just whether you got it right. The bank is continually refined to match the latest syllabus updates from WJEC.
How is Finance: Financial Statements and Analysis typically tested on WJEC GCSE Business Studies papers?
Finance: Financial Statements and Analysis appears across multiple question types on real WJEC GCSE Business Studies papers — most commonly as multiple-choice questions in the objective section, structured short-answer questions in the main paper, and occasionally as part of an extended response. Kramizo's practice bank reflects that mix: 4-option MCQs, true/false statements, fill-in-the-blank key terms, multi-select questions, and ordering questions. Working through the bank gives you exposure to every question style examiners actually use.

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