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View AS Business past papers⏰Attention A-Level and AS-Level students! Even though it feels like you’ve just gotten back to school, the A-Level Exams in 2025 are approaching fast! Most exams kick off in May and wrap up by June, so it's time to plan ahead, create your exam timetable, and prepare a coherent and organised study planner with StudySmarter’s handy guide!
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Read about Business StudiesA fiscal year for a business is a 12-month period used for accounting and tax purposes, which does not necessarily align with the calendar year. Companies choose their fiscal year based on their operational needs and industry practices. For example, many retail businesses end their fiscal year in January, after the holiday rush.
A business is an organization or enterprising entity engaged in commercial, industrial, or professional activities. It can be structured as a sole proprietorship, partnership, corporation, or any other form that facilitates the pursuit of economic activities, including the sale of goods or services.
A business is defined by its activity in producing or selling products or services to satisfy human needs and earn a profit. Businesses can range from small local shops to massive multinational corporations, but they all aim to generate economic value.
A small business is typically defined by its size, measured in the number of employees and revenue. This varies by industry, but generally, small businesses are independently owned and operated, having fewer than 500 employees and less than $7 million in annual revenue. Despite their size, they are crucial contributors to the economy.