OCR Business 1.1 - 1.4

Which one of the following is not a benefit of being a sole trader?

• Own boss

• Keep all profits

• Pursue personal goals

• Shared responsibility

Which of these statements is not a business objective?

• A business seeks to maximise the profit it makes

• A business wishes to increase its sales.

• A business cuts the wages of its workers.

• A business wants to gain a good reputation by providing a good service.

Abdul has just opened a coffee shop in a small town where there are already four other coffee shops. He needs to establish the business in this competitive market by gaining sufficient customers to help it to stay in business in the longer term.... which business objective does it match up to?

• Profit

• Survival

• Growth

• Providing a service

The Co-Operative supermarket chain aims to act responsibly and respectfully to its customers.... which business objective does it match up to?

• Profit

• Survival

• Growth

• Providing a service

American business, Post Holdings, has bought the Weetabix brand from owners, China Bright Food..... which business objective does it match up to?

• Profit

• Survival

• Growth

• Providing a service

E.ON, the energy company, has raised its prices even though costs have not risen...... which business objective does it match up to?

• Profit

• Survival

• Growth

• Providing a service

The owners of a business can only lose the money they have invested in a business if it fails... refers to

• Unimited liability

• Limited liability

• Moderate liability

• Full liability

Which type of business ownership has shares which can be sold?

• Sole trader

• Partnership

• Private limited company

• Public limited company

Which type of business ownership has no continuity?

• Sole trader

• Partnership

• Private limited company

• Public limited company

Which type of business ownership can raise the most money?

• Sole trader

• Partnership

• Private limited company

• Public limited company