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Buiseness Studies - Part 1
1
of
25
💡
Hints:
3
Q1. The following are functions of purchasing department except
A. Ensuring the correct quantities of goods supplied
B. Keeping records of goods
C. Making sure the products are of good quality
D. Paying worker salaries promptly
Q2. Which of the following are the three steps to start a business?
A. Develop a business plan
B. Acquire finances
C. Meet legal requirements
D. All of these
Q3. Stopping the export and import of a product is known as?
A. Tariff
B. Embargo
C. Quota
D. Deal
Q4. What is an angel investor?
A. A person who invests in a large business.
B. A person who invests in small businesses.
C. A partner.
D. A company.
Q5. In an overall sense, where does marketing occur?
A. Wherever advertisements are
B. Wherever stores are
C. Wherever businesses are
D. Wherever customers are
Q6. Who is the beneficiary of whole-life policy?
A. the insuree
B. the heir of the insuree
C. either of them
D. neither of them
Q7. Money that is paid to someone for their work or services
A. wages
B. commission
C. deposit
Q8. Your body should look like this when you type.
×
A. Water Slide
B. Staircase
C. Slippery Snake
D. Inverted Pogo Stick
Q9. How should iamplementation of KPIs be determined?
A. By department
B. As a whole
C. Singularly
D. It does not matter
Q10. What is business?
A. A business is any person or organisation trying to make profit.
B. A small house trying to lose profit when they sell it for a price lower than they bought it for.
C. A big house trying to make busi ness by selling it more than they bought for.
D. A medium house by selling the house for a medium price but making a bit of profit.
Q11. Efficiency is concerned with:
A. Utilization of minimum resources & completing the task
B. Completion of task
C. Right man at right job
D. Cooperation
Q12. Working capital is money needed to start a business.
A. TRUE
B. FALSE
Q13. One advantage of using a Mortgage as a source of finance for a small business
A. Owners keep control
B. Advice available. Repaid over an agreed period
C. Bank may refuse
Q14. A team discussion technique used to generateasmanyideasaspossiblefor solving a problem is known as
A. Idea storming
B. Nominal groupthink
C. Creative thinking
D. Brainstorming
Q15. This group of employees refer to whether a member of staff has a specific responsibility for meeting a target set by the business that is focused on achieving the business’s aims or objectives.
A. Operational staff
B. Support staff
C. Finance staff
D. Team leader
Q16. A science that examines how goods and services are produced, sold, and used is called
A. Economics
B. Social Studies
C. Biology
D. Chemistry
Q17. Which one of following is not a importance of communication?
A. Acts as basis of coordination
B. Increases managerial efficiency
C. Establish effective directing
D. Boosts morale
Q18. Which of these products is an example of a consumer good?
A. A bottle soap powder
B. A washing machine repair service
C. A drink can filling machine
D. The design of an advertisement for computers
Q19. In a contract of sale transfer of property means transfer of
A. Ownership
B. Delivery
C. Only Possession
D. Immovables
Q20. A business whose goal is to provide a service rather than to make a profit, such as the American Red Cross.
A. Franchise
B. Sole Proprietorship
C. Non-profit organization
D. Multinational Corporation
Q21. Which of the following is NOT a benefit of using a budget?
A. Helps you keep track of your money
B. Helps you make plans to reach your financial goals
C. Helps you decide the importance of your expenses
D. Helps you purchase anything you want
Q22. The funds that the firm uses to internally finance growth
×
A. Capital employed
B. Current assets
C. Long-term finance
D. Retained profit
Q23. Asset is
A. cash that enterprise owns
B. items that enterprise owns
C. property
D. all of the answers correct
Q24. unauthorized use of a trademark in a manner which is likely to cause confusion, deception or mistake about the source of goods or services
A. Trademark Infringement
B. Praivacy Invasion
C. Policies and Regulations
D. Open Source
Q25. Which of the following would appear in the equity section of the statement of financial position?
A. Share capital
B. Tax due
C. Revenue
D. Overdraft
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