Learning Outcome E Recap

Which of the following is an example of a physical resource in a business?

• Employee skills

• Factory building

• Marketing strategy

• Cash reserves

Why is it important for businesses to manage their physical resources effectively?

• To improve employee morale

• To reduce operational inefficiencies and costs

• To increase the number of customers

• To maximize profits instantly

Which of the following is a financial resource?

• Land and buildings

• Retained earnings

• Company logo

• Machinery

What is the primary role of financial resources in a business?

• To fund business operations and investments

• To train employees

• To maintain company image

• To reduce environmental impact

What tool is used to analyze a business's financial position?

• Cash flow forecast

• SWOTT analysis

• Gantt chart

• Business plan

Which of the following would NOT be classified as a physical resource?

• Machinery

• Office space

• Cash flow

• Inventory

Why is budgeting important for managing financial resources?

• To reduce staff turnover

• To ensure resources are used efficiently and prevent overspending

• To increase product quality

• To maximize advertising efforts

Which of these is a risk of poorly managing financial resources?

• Decreased brand awareness

• Overproduction

• Cash flow problems and possible insolvency

• Better decision-making

What type of physical resource is inventory?

• Human resource

• Tangible asset

• Financial asset

• Intellectual property

What does effective financial resource management typically lead to?

• Reduced productivity

• Improved profitability and sustainability

• Increased debt levels

• Decreased product quality