Business Activities Quiz

What type of business activity involves the extraction of raw materials?

• Primary

• Secondary

• Tertiary

• Quaternary

Which sector of operation is a charity likely to fall under?

• Private

• Public

• Third sector

• Primary

What is a key feature of a private limited company?

• Shares traded on stock exchange

• Unlimited liability

• Limited liability

• Sole ownership

Which of the following is an advantage of a partnership?

• Unlimited liability

• Shared decision making

• Limited liability

• Easier to raise capital

Which legal status allows a business owner to keep all profits but also bear all losses?

• Private limited company

• Partnership

• Sole trader

• Public limited company

What does the term ‘span of control’ refer to in an organisational structure?

• Number of layers in hierarchy

• Number of subordinates a manager oversees

• Decision-making power

• Division of work

Which functional area is primarily responsible for liaising with customers and managing expectations?

• Finance

• Marketing

What is the main purpose of an income statement?

• To forecast future cash flows

• To show profit or loss over a period

• To detail assets and liabilities

• To record daily transactions

Who among the following is an internal stakeholder?

• Local community

• Supplier

• Government

• Employee

How might an environmental pressure group attempt to alter business behaviour?

• By offering financial incentives

• By organising protests

• By buying company shares

• By conducting internal audits