Revision National 5 Business 2022

The factors to be considered before choosing a supplier is called....

• The Supplier Factors

• Material Category

• Supplier Choice

• The Purchasing Mix

Which of the following is a method of internal recruitment?

• Company Intranet

• National Press

• Recruitment Agencies

What is the finance department responsible for?

• Looking after employees

• Communicating with customers

• Manufacturing the products

• Managing the business finances

Which one is NOT a stage in the product life cycle?

• Maturity

• Growth

• Decline

• Development

What are the MINIMUM number of partners in a partnership?

• 1

• 2

• 10

• 20

Which method of production is being described here....

'Where a single product is custom made to meet customer's own specification'

• Job

• Batch

• Flow

• Automation

What is the name of the document that is used to show future income and expenditure for a business?

• Cash Budget

• Cash Statement

• Income Statement

• Income Budget

What external factor may mean that a company has to purchase new health and safety equipment which will lowers profits and increases costs?

• Political / Legislation

• Social

• Economic

• Environmental

Each business needs to decide where to locate. Which factor is NOT a main consideration?

• Being close to customers

• Availability of potential employees with correct skills

• Availability of suitable premises

• Availability of machinery especially for flow production

A manager is an external stakeholder

• True

• False