Prelim Business - Nature of

Which is not a function of a business?

• to innovate
• entrepreneurship
• Improve the environment
• wealth creation

Which of the following is in the primary industry sector?

• A service business
• Acquisition of raw materials
• The transformation of a raw material into a semi-finished product
• an information based service

Which of the following is in the quinary industry sector?

• A service business
• Acquisition of raw materials
• The transformation of a raw material into a semi-finished product
• an information based service

A partnership is an incorporated business.

• True
• False

An example of an internal influence on a business is?

• legislation
• the economy
• competition
• a product

The third stage of the BLC is known as...

• establishment
• maturity
• renewal
• steady state

Which of the following defines a merger?

• two business agreeing to join to form a new organisation
• one business buys another business
• a company sells their assets
• a business establishes from no pre-existing business

The maximum amount of people in a partnership is commonly which of the following?

• 10
• 15
• 20
• 25

Which of the following defines liquidation?

• a business voluntarily selling their assets
• an individual going into bankruptcy
• a business buying more assets
• a creditor selling off a business's assets

True or False. The environment is a stakeholder in a business

• True
• False