Revision 2 T1 Grade 9

What is a sole trader?

• a)    The money needed to start a business.

• A business owned by just one person.

• A business owned by two or more people.

What is an advantage of a sole trader?

 

• a)    The owner has complete control of the business.

• There is more than one person to invest capital in the business.

• The owner has less work to because they can share main tasks.

What is a disadvantage of a partnership?

• (a)  If one partner leaves, the business must close.

•   There is more than one person to invest capital in the business.

•   It takes time to set up and is expensive.

Google and NASA decided to work together to set up a new business.

What type of business structure is this an example of?

• Sole proprietorship

• Partnership

• Joint Venture

• Franchise

Krispy Kreme is a business which allows another business to use its name, logo, and products.

What type of business structure is this an example of?

•   Sole proprietorship

• Partnership

•   Franchise

• Joint venture

Desert Soda is a large Middle Eastern company in the with hundreds of shareholders. Last year, it appointed a new Board of Directors. The company wants to increase production to sell their products in Europe. The Board of Directors is raising money by selling more shares to the public.Recommend a business structure for Desert Soda.

•   Sole proprietorship

• Partnership

•   Private limited company

•   Public limited company

What is a business objective?

• (a)  The amount of money a business makes.

• (b)  The number of products sold compared to other businesses.

• The effect of business decisions on society.

• A goal that a business wants to achieve.

Beans Café is a coffee shop that is successful in Sharjah. Next year, they want to open more restaurants in Dubai, Abu Dhabi and Ras Al Khaimah.

What is the business objective for Beans Café?

• (a)  Corporate social responsibility

•   Increasing market share

• Growth

• Survival

Which element of a SMART objective involves setting realistic goals that are possible to be completed?

• Specific

• Measurable

• Achievable

• Relevant

Which one of the following objectives is time-bound?

• Save money.

• Save money to buy new clothes.

• Save 1,000 dirhams sometimes.

• Save 1,0000 dirhams monthly for 6 months.