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WorksheetsBusiness heist
Total questions: 30
Worksheet time: 15mins
Which of the following is an example of a variable cost?
Rent
Raw materials
Insurance
Advertising
Which of the following describes the role of an entrepreneur?
Being employed by a large organisation
A willingness to take risks
Having sufficient money to start a new business
Being able to work alone
Which two of the following are examples of primary market research?
Internet research
Market reports
Customer surveys
Government statistics
Focus group
Which two of the following are examples of services?
Train journey
Magazine
Headphones
Haircut
Mobile phone
Which of the following are parts of the product life cycle?
Introduction
Start
End
Maturity
Transcend
Which of these is not a type of training?
Formal
Informal
Ongoing
Retention
Which of the following descibes autonomy?
Communicate easily with others
Experience with a wide variety of tasks
Make their own decisions
Receive a bonus for meeting targets
Which two of the following are part of the sales process?
Competitive prices
Customer engagement
High quality products
Post-sales service
Quality assurance
Which two of the following are benefits of a flat structure?
Decisions can be made quickly
Increased number of team leaders
Managers may be overworked
Increased barriers to communication
Reduced cost of management salaries
Which document will not be provided by a business?
CV
Job advert
Job description
Person specification
Which of the following is true about franchises?
A franchisee makes all their own decisions
The franchisor pays the franchisee to set up in business
The franchisor provides continued help and support
Franchises pay lower Value Added Tax than sole traders
Which of the following describes margin of safety?
e difference between actual and break even levels of output
Where total revenue and total costs are equal
The number of sales required to break even
Profit made above the break even level of output
Which two of the following are examples of cash inflows?
Bank loans
Raw materials
Receipts
Suppliers
Wages
Which two of the following are benefits of being a sole trader?
Limited liability means losses can be minimised
Owner has control of decision making
Break even level of output will be higher
Less risky than other types of business structure
Any profits can be kept by the owner
Which of the following is an example of secondary research?
Customer survey
Focus group
Market report
Observation
Which two of the following are potential risks for an entrepreneur?
Not making a yearly profit
Lack of job security
Business failure
Business ownership
Less raw materials
Which two of the following are methods of adding value?
Satisfying shareholders
Unique selling point
Suppliers paid on time
Branding
Pressure groups
Which two of the following are aspects of SWOT analysis?
Strengths
Wants
Targets
Opportunities
Openings
Which two of the following are examples of financial aims and objectives?
Control
Social responsibility
Market share
Survival
Challenge
Which two of the following are examples of fixed costs?
Rent
Salaries
Commission
Bonuses
Raw materials
Which two of the following are examples of variable costs?
Interest
Packaging
Exchange rates
Interest rates
Raw materials
Which two of the following are aspects of trade credit?
Retrospective discount
Credit
Variable costs
Opening balance
Credit Limit
Which two of the following types of ownership have limited liability?
Sole trader
Public limited company
Open limited company
Private limited company
Investment limited company
Which two of the following are examples of stakeholders for a sole trader?
Shareholders
Government
Humanitarian aid
Pressure groups
Parents
Which two of the following are aspects of a SMART objective?
Specific
Actualised
Rented
Measurable
Manageable
Which two of the following are examples of internal (organic) growth?
Introduce new products
Research and development
Takeover
Subordinates
Enter new markets
Which two of the following are reasons for retrenchment?
Customers are retained
Bad online reviews
The market is saturated
Short term poor cash flow
Products are at the end of their life cycle
Which two of the following are methods of gaining economies of scale?
Permanent contracts
Freelance contracts
Specialisation of labour
Buying in bulk
Buy less raw materials
Which two of the following are non-financial methods of motivation?
Autonomy
Training
Job enrichment
Bonuses
Fringe benefits
Which two of the following are types of contracts?
Short term contract
Permanent contract
Zero hours contract
All day contract
Long term contract
