commerce (not all the way done)

Liabilities can be divided into two different types. What are they? 

• Current and prior liabilities 

• Current and non-current liabilities 

• Prior and non-current liabilities 

• Prior and future liabilities. 

Match the following

• assets

• a word which refers to rivalry among businesses

• liquidity

• a word that means a business can pay its short-term debts on time

• promotion

• a two-syllable word which rhymes with ‘swill’

• goodwill

• a word which also means to get a better job based on your good work previously

• competition

• a word which means items of value

Which is the best explanation of a prospectus? 

• a legal document issued by companies that are offering securities for sale

• a legal document issues by companies offering to buy securities 

• a legal document issued by companies outlining their liabilities 

• a legal document issued by companies outlining their corporate social responsibility. 

Are the following considered a limited liability or an unlimited liability? Tick the appropriate box.  

• no

• Private company 

• yes

• Public company

• yes

• Sole trader 

• no

• Partnership 

What does a secured loan refer to? 

• Where a business loans to a sole trader 

• Where the borrower offers an asset as security for the loan  

• Where the borrower offers to pay back a loan within a set short time period 

• Where a business takes a loan from a secured bank. 

Match the terms in the column on the left with their meanings in the column on the right. 

• incorporation

• population characteristics that affect customer spending, which include age, ethnicity, gender, marital status, family size and income 

• market research

• collecting and analysing information about customers and the business opportunities available 

• resilience

• the ability to cope with the ups and downs, adapt well to change and bounce back from challenges 

• debt

• money owing to external sources; e.g. a

• demographic factors

• process whereby a company has become a separate legal entity from its owners (shareholders) 

Simon sat and looked at the list of his ​ (a)   . A ​ (b)   had arisen and he was really interested in investing. After conducting some ​ ​ (c)   , he realised that his partner really was an entrepreneur. She’d explored the demographic factorsof the area where they were proposing to open the gym. The franchise for this gym would not be cheap but they knew their target marketand it wouldn’t take long before word-of-mouth communicationhad an impact. Their success would be based on hard work and goodwillbuilt on customer satisfaction. 

• assets
• business oppurtunity
• market research
• prices
• business idea