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Fashion4Less | Activity | AQA A-Level Business (2026) | Unit 3.3.3

Level:
A-Level
Board:
AQA

Last updated 10 Aug 2026

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In this activity students assess whether Fashion4Less should open a new store by applying investment appraisal techniques to forecast cash flows and weighing the financial evidence against wider business risks.

Students use projected cash-flow data for a proposed Fashion4Less store to calculate the payback period and average rate of return, then use the results to build arguments for and against the investment. The activity develops investment appraisal alongside judgement, encouraging students to consider competition, uncertainty in forecast cash flows and limitations of payback and ARR, including their failure to account for the time value of money. Suggested answers provide calculations and discussion points for review.

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