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Business A level Quiz (BUSS2)

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A levels Business Studies Quiz on Business A level Quiz (BUSS2), created by m_hassell1 on 24/05/2015.
m_hassell1
Quiz by m_hassell1, updated more than 1 year ago
m_hassell1
Created by m_hassell1 over 9 years ago
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Resource summary

Question 1

Question
Name the Calculation for Gross Profit ?
Answer
  • Margin = Gross Profit (SP-VC) / Revenue X 100
  • Margin = Gross Profit (SP-VC) / Revenue

Question 2

Question
What is the calculation for net profit?
Answer
  • TR - (TVC+TC) / Revenue X 100
  • TR - (VC+TC) / Revenue X 100

Question 3

Question
How do you increase a businesses profitability?
Answer
  • Switch Suppliers
  • Sell your Assets
  • Reduce Expenses
  • BE = Profit Margin
  • Alter your Pricing Strategy

Question 4

Question
Name 4 causes of a business' failure, when cash flow issues occur
Answer
  • Seasonal Demand
  • Problem Child Products
  • Sales Revenue is Overestimated
  • Credit Sales
  • Stock Is all in the businesses hands
  • Too Many Staff
  • Little Profit

Question 5

Question
What is the definition of a budget? Give two benefits.
Answer
  • A Financial Plan + Motivational and Monitors a businesses progress
  • A Cash Flow Plan + Realistic Overviews and Look at a businesses inflows and outflows of cash
  • A Financial Plan + Money motivates employees

Question 6

Question
Name two drawbacks of a budget?
Answer
  • Start Ups lack realism (Not realistic demands)
  • Situations are always tangible
  • Unable to gather all the information from this
  • Unclear / Inaccuracies are key to business failure

Question 7

Question
What is the calculation for labour productivity?
Answer
  • LP = Actual Output (Units Produced) / Number of Employees
  • LP = Output / Number of Units Produced

Question 8

Question
What is the calculation for labour turnover?
Answer
  • LT = Number of Employees Leaving / Total Number of Employees X 100
  • LT = Number of Employees / Total Number of Employees Leaving

Question 9

Question
What is delegation?
Answer
  • The processing of tasks down the hierarchy from a manager to the shop floor
  • The processing of tasks down the hierarchy

Question 10

Question
What is the span of control?
Answer
  • The number of employees that the manager is responsible for
  • The number of employees being supervised
  • The number of employees working under the manager

Question 11

Question
Name the two hierarchy structures? How does it effect staff?
Answer
  • Tall + Specialises in promotions and high in opportunities, but decision making is slow
  • Flat + Quick decision makings, but hardly any opportunities to climb the hierarchy
  • High + Promotions aren't common but you have a higher wage structure
  • Low + Better Communication between staff, better relationships and a higher productivity.

Question 12

Question
Name four ways of solving cash flow issues?
Answer
  • Sale of Assets
  • Sale and Leaseback
  • Take Less Cash Out of The Business
  • Bank Overdraft
  • Bank Loan
  • Share Capital
  • Sale and Buyback
  • Business Investors
  • Business Angels

Question 13

Question
What is Internal Recruitment?
Answer
  • This is when existing employees apply for a job in the company they are working for
  • This is when employees recommend one of their friends for the job

Question 14

Question
What is external recruitment?
Answer
  • This is when people are gathered from outside the company, and the bosses do not know the person
  • This is when people are brought in from another country for employment in the UK

Question 15

Question
Choose two motivational theorists from this list.
Answer
  • Taylor - Money Motivates employees to work harder and produce more products
  • Maslow - Hierarchy of Needs - People are more satisfied when they move up the scale of employment
  • Herzberg - Hygiene V. Motivators (Money, Needs, Etc)
  • Mayo - Working in teams motivates more than money

Question 16

Question
Name the calculation for capacity utilisation?
Answer
  • Actual Output Per Annum / Max Output Per Annum X 100
  • Actual Output Per Annum / Output Per Annum

Question 17

Question
Name 3 impacts of under utilisation?
Answer
  • Higher Unit Costs
  • Lower Profits
  • Negative Image
  • Loss Of Reputation
  • Raising Finance
  • Trading Falls

Question 18

Question
What is Total Quality Management?
Answer
  • A Japanese Concept introduced to minimise waste and focus on efficiency, increases sales, and creates a USP
  • A German Concept introduced to focus on efficiency and creates a USP
  • A Chinese Concept, that minimises waste and improves your reputation

Question 19

Question
What are the downfalls of TQM?
Answer
  • Costs
  • Training
  • Disruption of Production
  • Too many products
  • Could lead to inaccuracies
  • Too many Staff Issues

Question 20

Question
What is customer service?
Answer
  • Giving Customers the correct service or product of high quality and enhances your reputation
  • Giving customers the service they desire to fix or mend broken items or amend services.
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