Business Revision Quiz 1 - Breakeven, Forecasting, Balance S

Business Revision Quiz 1 - Breakeven, Forecasting, Balance S

12th Grade

25 Qs

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Business Revision Quiz 1 - Breakeven, Forecasting, Balance S

Business Revision Quiz 1 - Breakeven, Forecasting, Balance S

Assessment

Quiz

Other

12th Grade

Practice Problem

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Created by

Callum Richardson

Used 13+ times

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25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What kind of correlation is best when using the technique to inform marketing forecasts

Strong correlation

Negative correlation

Positive correlation

Weak correlation

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

If demand for a product is found to increase as outside air temperatures rise, this would suggest

Strong fit

Positive correlation

Negative correlation

No correlation

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

A moving average is particularly useful for pointing out

How competitors will respond to price changes

Qualitative changes in a market

Key changes in the nature of demand

A historical growth trend

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

A key benefit of using extrapolation in sales forecasting is that it is

Highly accurate

Reliable over the long-term

Not affected by external factors

Relatively quick and cheap

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

All of the following represent limitations of sales forecasting except

Can improve efficiency and profitability

Long-range sales forecasts tend to be less reliable

Can involve complex calculations

Does not factor in changes in external environment

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The sales forecasting technique that involves making future predictions based on trends identified from past data is

Corroboration

Cash flow analysis

Extrapolation

Time series analysis

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The reason why a balance sheet always balances is because

Every transaction has two offsetting effects

Assets cannot be bought without cash

It is drawn up by an accountant

It is called the balance sheet

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