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Quiz von lauren_binney, aktualisiert more than 1 year ago
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Erstellt von lauren_binney
vor mehr als 9 Jahre
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Frage 1
Frage
Which two of the following are possible objectives for someone setting up business as a sole trader?
Select two answers,
Antworten
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To allow other people to make all the decisions
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To benefit from limited liability
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To gain financial support from shareholders
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To take all the profits
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To have full control of the decisions
Frage 2
Frage
A small manufacturing company has variable costs.
Which three of the following are examples of variable costs?
Select three answers
Antworten
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Raw Materials
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Insurance premiums
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Packaging
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Loan repayments
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Gas/electricity bills
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Salaries
Frage 3
Frage
Which of the following is an internal source of finance?
Select one answer
Antworten
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A loan from a bank
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An overdraft
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Selling assets
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A stock market flotation
Frage 4
Frage
Which three of the following are examples of market segments for a small sports retailer?
Select three answers
Antworten
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Rival sports retailers in the same area
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Young members of local sports teams
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A questionnaire conducted with customers
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Individuals with interests in specialist sports
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Manager of a local netball team
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An advertisement in a local newspaper
Frage 5
Frage
The bank increases the rate of interest on the Hardacres loan to 10.5%
Identify two effects of this change on the business
Select two answers
Antworten
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An increase in cash outflows
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Higher National Insurance payments
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Lower variable costs
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Higher fixed costs
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Lower value added tax (VAT) payments
Frage 6
Frage
Joshua has applied for a patent for his product
The main purpose of a patent is...
Select one answer
Antworten
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To make it easier for Joshua to pay any taxes due
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To ensure that Joshua gets repeated purchases
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To place a limit of the number of people who can copy Joshuas idea
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To register a new invention so Joshua has sole rights to its use
Frage 7
Frage
Which two of the following are examples of lateral thinking techniques?
Select two answers
Antworten
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Mind mapping
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Brainstorming business ideas with a group
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Producing a business plan
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Providing a wide range of products
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Producing a cash flow forecast
Frage 8
Frage
Which two of the following are disadvantages of using personal savings as a source of finance?
Select two answers
Antworten
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No interest will have to be paid
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The amount available might not be sufficient
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The money will not have to be repaid
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Less money available to deal with emergencies
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The money is instantly available
Frage 9
Frage
Identify two advantages to Andrew of setting up as a private limited company rather than starting as a sole trader
Select two answers
Antworten
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The potential to raise more finance
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All profits will go to Andrew
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Andrew has total control of the business
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Less risk due to limited liability
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Fewer legal requirements
Frage 10
Frage
Which one of the following is NOT a source of added value for the retailer when selling crisps to the consumer?
Select one answer
Antworten
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The brand name of the crisps
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A unique selling point of the crisps
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Competitors' crisp prices
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The quality of the crisps
Frage 11
Frage
Which one of the following is an example of long term finance for a sole trader?
select one answer
Antworten
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Share Capital
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Overdraft
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Bank loan
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Trade credit
Frage 12
Frage
Which two of the following are the most likely advantages of starting a new business as a franchise?
Select two answers
Antworten
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Training and support are provided
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Ability to offer a different service
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Can buy goods to sell from any supplier
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Banks are more willing to lend money
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Can pay staff lower wages
Frage 13
Frage
What are 3 ways of motivating staff working at Tesco, other than increasing their wage?
Select 3 answers
Antworten
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Discounts
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A company car
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Praise
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Training
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Housing
Frage 14
Frage
Which two of the following would be drawbacks to business facing increased competition?
Select two answers
Antworten
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Offering good products and service
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Ability to increase prices
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Need to cut staff levels
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Not developing opportunities
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An increase in innovation e
Frage 15
Frage
In deciding to set up in a business and manufacture the product herself, which of the following questions should Mandy NOT have asked herself?
Select one answer
Antworten
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What are the set hours I will work?
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Why not go at it alone?
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What is the business were to fail?
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Is the risk worth taking?
Frage 16
Frage
Some businesses produce goods while others produce services. Which two of the following are examples of goods?
Select two answers
Antworten
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A bus journey
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Freshly-prepared sandwiches
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A newspaper
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Haircut
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Computer repairs
Frage 17
Frage
Which two of the following are subject to legislation to protect workers from discrimination?
Select two answers
Antworten
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Qualifications
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Age
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Ability
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Race
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Skill
Frage 18
Frage
Which two of the following are examples of variable costs for a small manufacturing business?
Select two answers
Payment for..
Antworten
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Rent of the business premises
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Insurance payments
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Raw materials used in production
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Advertising costs
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Packaging of the finished products
Frage 19
Frage
Which two of the following methods are most likely to give Jack a competitive advantage? Select two answers
Antworten
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Providing high quality tuition
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Operating as a sole trader
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Providing a personalised service
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Operating in a competitive market
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Providing a service for a community
Frage 20
Frage
In 2009, good weather led to a large increase in the wheat harvest.
Which of the following is the most likely effect of this increase?
Select one answer
Antworten
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The price of wheat will fall
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Charles will have to pay more for his pasta
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The cost of wheat will rise
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The demand for wheat will fall
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