Business Foundations Quiz

A sole trader has ............

• Limited Liability

• Has unlimited capital

• Is simple to wind up

• Must have a Registered Business name (RBN)

A partnership has ________ ________. This means the personal assests of the partners can be used to cover debt.

A Private company has .......

• Less than 60 shareholders

• Have the letters LTD afer their name

• Have a higher degree of government control

• Can t be sued

Draw the Government Business enterprise LOGO of Australia Post

Answer explanation

Government Business enterprise (GBE) ........

• Dont have regular reporting requirements

• Adopt a corporate model when operating

• are not as concerned with profits

• Engages in commercial activities

This refers to how well a business uses its rescources to achieve objectives .......

• staff satisfaction

• effectiveness

• customer satisfaction

• Efficiency

Typical Business Objectives include .......,

• To make a Profit

• To increase Market Share

• Increase CSR responsibilities

• To fulfill a social need

Internal stakeholders include .........

• Customers

• Employees

• managers

• community

Official corporate culture .......

• What actually prevails in a business

• Who we are and what we actually do

• The relationships and interactions between people

• Expresssion of the values and beliefs of the business

The Positive corporate culture includes .........

• implementing policies

• Choice of management styles

• creating mission, vision and value statements

• Physical environment and materials symbols