Taster Quiz

A business is planning to increase its market share by merging with a competitor. What financial objective does this best illustrate?

• Growth

• Liquidity

• Profitability

• Efficiency

What is the most likely impact of a recession on human resources?

• Increase in wages

• Increase in overtime

• Increase in unemployment

• Increase in number of workers

Which of the following is an example of legal compliance for a sports store?

• Paying taxes on time

• Offsetting carbon emissions

• Induction of new employees

• Paying dividends to shareholders

What does this show?

• Selection and training of staff will begin in May.

• The shop will be open for business at the end of April.

• Stock purchases and advertising will be done simultaneously.

• Some stock will be purchased before the shop is completely refitted.

Customers at a furniture store are asked to give their postcodes at the checkout. What is this an example of?

• Primary research to determine target market

• Secondary research to determine target market

• Primary research to determine product life cycle

• Secondary research to determine product life cycle

When pricing a potential job, a plumber considers how long the job will take and how difficult it will be. Which pricing method is being used?

• Cost based

• Market based

• Competition based

• Customer based

A business wants to minimise the volume of its waste. Which performance objective is the business trying to achieve?

• Cost

• Speed

• Flexibility

• Customisation

The term compliance costs refers to expenses associated with meeting

• competitor prices.

• legal requirements.

• consumer demands.

• supplier constraints.

Ruth observed that a work colleague was stealing and reported the theft to her supervisor. As a result, Ruth’s employment was terminated. What is this an example of?

• Unfair dismissal

• Redundancy

• Performance management

• Resignation

Which performance objective measures how well a product meets the prescribed design specifications?

• Cost

• Quality

• Speed

• Flexibility