493293
Descrição
Quiz por jadepalmer98, atualizado more than 1 year ago
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Criado por jadepalmer98
quase 11 anos atrás
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Questão 1
Questão
Why are businesses set up?
Responda
-
Financial Reasons
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Personal Reasons - wanting to be their own boss
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They were told to
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To help others - by setting up a charity, for example
Questão 2
Questão
The most important aim for most businesses is to survive and make a profit
Responda
- True
- False
Questão 3
Questão
What qualities do entrepreneurs need?
Responda
-
Initiative - to seek out business opportunities
-
Money - to start up the business
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Leadership skills - to motivate workers
-
The ability to think ahead and take risks
Questão 4
Questão
Identify an advantage of being a sole trader
Responda
-
You can sell shares to family and friends
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They're easy to set up
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You have unlimited liability
-
You don't get any holiday time as you have to look after your business
Questão 5
Questão
Which of these is a disadvantage of being a sole trader?
Responda
-
You get to be your own boss
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You have unlimited liability
-
You get to make all the decisions
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You can't bounce ideas off of other owners
Questão 6
Questão
How many partners make a partnership?
Responda
-
2
-
Up to 10
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2-20
Questão 7
Questão
Which of these are disadvantages of being in a partnership?
Responda
-
You are all legally responsible for each other
-
You have unlimited liability
-
More capital put into the business
Questão 8
Questão
The paperwork relating to a partnership is called
Responda
-
A partnership agreement
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A deed of partnership
Questão 9
Questão
Which of these are true about Private Limited Companies(PLCs)?
Responda
-
You can sell shares on the stock exchange
-
You have limited liability
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You must have a Memorandum of Association & Article of Association
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You are owned by shareholders
Questão 10
Questão
Limited Liability companies have their own identity
Responda
- True
- False
Questão 11
Questão
Which of these is the definition of a franchise?
Responda
-
The right to sell another firm's products
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A shop that looks like and sells the same products as the 'mother' shop
Questão 12
Questão
Which of these are business aims?
Responda
-
Survival
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Making a profit
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Growing
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Increasing market share
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Being environmentally sustainable
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Ethical considerations
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Keeping customers happy
Questão 13
Questão
Which of these is correct?
Responda
-
An objective is a short term goal used like a stepping stone to reach the businesses aims
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An aim is a short term goal used like a stepping stone to reach the businesses objectives
Questão 14
Questão
SMART stands for Specific, Measurable, Achievable, Realistic, Time Scale
Responda
- True
- False
Questão 15
Questão
A business plan should include...
Responda
-
Mission Statement
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Objectives of the business
-
How much start-up capital will be needed
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Product description
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Aims of the business
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Credit history of parents/ guarantors
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