Mock exam paper B Section B Ordinary Level

PRE – JUNIOR CERTIFICATE EXAMINATION, 2014

BUSINESS STUDIES - ORDINARY LEVEL

Time: 2 hours 30 minutes

SECTION B

(300 marks)

  • All questions carry equal mark.
  • Answer ANY five questions.
  • Marks will be awarded for workings, layout and presentation.
  • Dates should show the day, month and year.
  • Calculators may be used

1. This is a Household Budget Question.

(Answers to be completed in Section A Booklet – page 9)

Answer all parts of this question:

The following is a budget for the Ring household for the last four months of 2013.

Opening Cash in Hand is €750.

Planned Income:

  • Pat Ring earns €2,350 per month and expects an increase of €100 per month starting with Octobers Salary.
  • Amy Ring earns €2,100 and expects a Christmas bonus of €1,050 net in December.
  • Child Benefit is €280 per month.

Planned Expenditure:

  • House Rental is €540 per month.
  • House contents insurance of €180 per year, payable monthly from July each year.
  • Car Insurance for the Ring’s is €400 per annum. They pay this in four equal installments per year. There is one installment due in December.
  • Car tax is due in October of €333 and is paid in full in October.
  • Amy pays the TV license by buying 3 TV stamps per month. Each TV stamp costs €4.
  • Household costs are €870 per month except in December when they are expected to be €230 extra.
  • Car running costs are expected to be €45 per month for Pat and €25 per month for Amy. Both cars are due a service in October at a total cost of €825, which is additional to car running costs.
  • Landline phone and broadband package is expected to be €65 in September and €85 in November. In addition, mobile bills are paid monthly, at a cost of €25 for Amy and €30 for Pat.
  • Bills for light and heat are expected to be €115 in October and €210 in December, while a fill of home he...

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