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- 1. Multiple Choice
More owners means more disagreements for what type of structure?
Public Limited
Partnerships
Private Limited
Sole Trader
- 2. Multiple Choice
_______________is a legal term for being held accountable
Liability
Assets
Bankruptcy
Claim
- 3. Multiple Choice
Disadvantages for this type of business include: owner pays for everything, hard to get money to start from the bank, owner might lack skills & unlimited liability.
Sole Proprietorship
Partnership
Corporation
Limited liability company
- 4. Multiple ChoiceWhich of the following is not a feature of a private limited company?Shares can be issued to raise capitalShares can be bought and sold on the Stock ExchangeAll owners of the business have limited liabilityThe business continues after the death of a shareholder
- 5. Multiple ChoiceAn Ltd (Private limited company)Has unlimited liabilityHas limited liabilityIs listed on the stock marketCan have up to 100 investors
- 6. Multiple ChoiceRefers to the number of people who pass a retail location during a given period of time.PassageTrafficMovementPatronage
- 7. Multiple Choice
Which of the following is likely to be the main factor influencing the location of a small barber shop? Proximity to:
Customers
Labour
Raw materials
Competitors
- 8. Multiple Choice
A business has the choice to locate at Site A, which is close to the market, or Site B, which is close to materials and labour. The benefit of choosing Site A over Site B is that it is close to:
Customers
Suppliers
Raw materials
Employees
- 9. Multiple ChoiceWhat is the main important factor for a retail business?Labour CostsCost of raw materialsFootfallRent
- 10. Multiple ChoiceThe customers you would most like to attract are referred to as yourcompetitionmarket segmentstarget marketdemographics
- 11. Multiple ChoiceA competitor's strengths should be viewed as threats to your business.TrueFalse
- 12. Multiple Choice
Which of the following best describes a target market?Close competitors of a businessThe people who buy a business's productsGroups that do not buy a business's productsThe people who a business's marketing is aimed at - 13. Multiple ChoiceThe oldest form of advertising.News PaperRadioTVWords of mouth
- 14. Multiple Choice
Which of the following statements is true in relation to business aims and objectives?
Aims are specific and objectives are general
Aims and objectives are both general
Aims are general and objectives are specific
Aimsandobjectivesarebothspecific
- 15. Multiple Choice
Which of the following stakeholders is most likely to have profit as an objective?
Owners
Employees
Suppliers
Customers
- 16. Multiple Choice
Which of the following type of objective would an entrepreneur set who is aiming to ensure revenue is greater than total costs?
Personal objective
Profit objective
Social objective
Market share objective
- 17. Multiple Choice
Survival in a business situation means:
Making products cheaper than competitors
Making sure the business continues to operate
Making less profit than last year
Providing good service rather than making profit
- 18. Multiple Choice
All partnerships must be 50 - 50?
True
False
- 19. Multiple Choice
A sole proprietor can be described as
Having a partner
being self-employed
have a boss
having stock options
- 20. Multiple Choice
Cost price is...
how much you pay for something.
how much you sell something for.
- Answer choicesTagsAnswer choicesTags