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
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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.
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- Amy Ring earns €2,100 and expects a Christmas bonus of €1,050 net in December.
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- Child Benefit is €280 per month.
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Planned Expenditure: | - House Rental is €540 per month.
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- House contents insurance of €180 per year, payable monthly from July each year.
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- 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.
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- Car tax is due in October of €333 and is paid in full in October.
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- Amy pays the TV license by buying 3 TV stamps per month. Each TV stamp costs €4.
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- Household costs are €870 per month except in December when they are expected to be €230 extra.
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- 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.
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- 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.
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- 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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