The business function that is responsible for keeping all records that will assist management in the decision making process.

• General management function

• Financial function

• Administrative function

• Human Resource function

Top management is responsible to …

• formulate short-term plans that are then implemented by middle

  managers.

• develop a strategic, long term plan for the organization.

• organize the resources needed by the functional managers.

• control the activities of lower level managers to ensure the business

  makes a good profit.

… refers to a situation where a third party performs a business function that is normally done within a business.

• Delegating

• Outsourcing

• Organizing

• Creative thinking

Triple bottom-line reporting refers to …

• reporting on the sustainability of the business, employee skills and contractual obligations.

• reporting on profits, the environmental impact of the business and social responsibility.

• reporting on financial investments, employee skills and social

  responsibility.

• reporting on the feasibility of the business, the environmental impact of

  the business and contractual obligations.

The … department has to make sure grievance procedures are followed within Telkom.

• Marketing department

• Human Resources department

• Public Relations department

• Administration department

Which of the following is the most important characteristic of an entrepreneur?

• Adventurous

• Dominates others

• Risk taker

• Weary of challenges

Telkom belongs to the …….sector.

• informal

• primary

• manufacturing

• formal

Net profit is

• gross profit less operating expenses

• sales less cost of sales

• the balance of cash in the bank account

• the difference between the business’ assets and liabilities

True or false... More job creation will lead to better profits for the business but a lower standard of living in general.

• True

• False

True or false...A balance sheet includes fixed assets, liabilities, expenses and owners equity.

• True

• False