GCSEBusinessOCRExam Questions5. Finance5.1 The Role of Finance

The Role of Finance (OCR GCSE Business): Exam Questions

Exam code: J204

6 mins4 questions
1
1 mark

Sam is a finance assistant for a national taxi firm.

Which task is most likely to be part of Sam’s job role?

  • Phoning garages to negotiate vehicle servicing at reduced prices

  • Posting discount codes on social media for pre-booked journeys

  • Producing spreadsheets analysing quantitative market research data

  • Providing cost data to help decide when to purchase new vehicles

Choose your answer

2
3 marks

Case Study

BP plc

BP plc is a UK energy company, which has its headquarters in London. BP produces oil, gas and petrol. It sells and distributes these products to customers all over the world. It also produces some environmentally friendly energy including biofuels, as well as wind- and solar-powered electrical energy.

The company’s finance function is critical in ensuring the business is managed efficiently. BP plc’s revenue increased from $245 billion in 2017 to $283 billion in 2019.

One of BP’s operations involves selling of petrol to the public. BP has 18 700 petrol stations around the globe, with 8500 in the UK. Another of BP’s operations involves extracting oil, using its oil rigs. These are located in the seas around the UK, Norway, Australia, Angola, the Gulf of Mexico (USA) and off the coast of many other countries. Once the oil is extracted it is then transported to refineries.

BP strives to be more sustainable. BP has the aim of cutting its carbon emissions by 2050 to help reduce the effects of climate change. It is installing electric charge points for Police Scotland’s electric vehicles and is developing wind farms in America in partnership with an American company.

Analyse how BP’s finance function may influence its ability to meet BP’s objectives.

How did you do?

3
1 mark

Which of the following tasks is not a finance function?

  • Advertising price reductions

  • Applying for a bank loan

  • Calculating break-even

  • Measuring profit and loss

Choose your answer

4
1 mark

Taj is a finance assistant. He works in a secondary school.

Which one of the following tasks would be done by Taj?

  • Creating educational resources

  • Keeping the school website up to date

  • Producing reports on the school’s GCSE results

  • Providing financial data on school energy usage

Choose your answer