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Business Games 1

Total questions: 100

Worksheet time: 50mins

Name
Class
Date
1.

Name the concept that says "It is an art of getting things done through efforts of other people. "

a)

Planning

b)

Coordination

c)

Controlling

d)

Management

2.

At which level of management, Plant Superintendent works?

a)

Top Level

b)

Middle Level

c)

Lower Level

d)

Administrative Level

3.

Identify the nature of manage that says it is practiced as a personalised application of existing knowledge to achieve desired result.

a)

Art

b)

Science

c)

Profession

d)

None of the above

4.

"Management is a Science". Do you agree?

a)

Yes

b)

No

c)

Can't say

d)

It is an impure science

5.

What is meant by Efficiency??

a)

Completing a task in time

b)

Completing a task with minimum resources

c)

Completing a task in minimum time however the cost may be more

d)

All are correct

6.

Name the objective of management that are concerned with ensuring safe and good working conditions to workers.

a)

Organisational Objectives

b)

Social Objectives

c)

Personal Objectives

d)

None of the above

7.

Domino Pizza keep introducing new variety of Pizzas in its menu. Name the characteristic of management highlighted in this??

a)

Management is pervasive

b)

Management is intangible

c)

Management is goal oriented

d)

Management is dynamic

8.

Name the function of management which is concerned with finding out deficiencies in implementation of plans.

a)

Planning

b)

Staffing

c)

Directing

d)

Controlling

9.

At what level of management, managers are responsible for welfare and survival of the organization?

a)

Top Level

b)

Middle Level

c)

Lower Level

d)

Supervisory Level

10.

What is a business plan?

a)

Written document that only outlines the business practices of the new business.

b)

Written document that describes the financial aspects of the business.

c)

Written document that only describes the ownership of the business.

d)

Written document that describes all the steps necessary for opening and operating a successful business.

11.

Why do you need a business plan?

a)

To explain your idea

b)

the ability to get financing.

c)

it's a road map that sets objectives and goals for the business.

d)

To help reduce the risk of business failure.

e)

All of the above.

12.
Lenders want to know where your business will be located because the location of a business is often critical factor to its success
a)
True
b)
False
13.

Complete the sentence: A business plan...

a)

is useful once your business is operational but not much help during the startup phase

b)

is not usually needed once the business is up and running

c)

can serve as a tool for helping a business during the startup phase and for managing your business once it is up and running.

14.
Lenders and investors require a business plan before they will consider financing a business
a)
True
b)
False
15.

Which of the following would be interested in seeing the business plan of a new company?

a)

Customers

b)

Potential investors

c)

The owners of the company

d)

Banks/ potential lenders

e)

Local council

16.

A business plan would normally be updated:

a)

Every day

b)

A month after the business starts

c)

Once a business adjusts its aims/objectives

d)

Every so often

e)

Never - It stays the same in its original form

17.

Which of the following pieces of information would you expect to find within a business plan

a)

How much staff wages are going to cost

b)

The production method the business will use

c)

Information about competitors products

d)

Opinions collected from the customers

e)

The organisation structure of the company

18.
Which of the following are characteristics of successful entrepreneurs?
a)
Creative, work hard, self-confident
b)
Goal-oriented, will to work while others play, highly motivated to succeed
c)
Strong desire to have control, high energy levels
d)
All of the Answers
19.
The 3 basic ways to start a business are to?
a)
analyze the competition, buy a building, or join a professional association
b)
buy an existing business, buy a franchise, start a business from scratch
c)
work for parents, get ideas from friends, join chamber of commerce
d)
All of the Answers
20.
Market segmentation is NOT important when planning a new business
a)
True
b)
False
21.
Entrepreneurship sometimes experiences large financial losses
a)
True
b)
 False
22.

What is a great way to come up with ideas

a)

Barnstorming

b)

Brainstorming

c)

Brain games

23.
Economic system where government controls everything.
a)
Market
b)
Command
c)
Mixed
d)
Free Enterprise
24.
Economic System where there is limited technology and ideas are passed down from generation to generation
a)
Command
b)
Traditional
c)
Mixed
d)
Market
25.
Type of Economy that is half command and half market
a)
Traditional
b)
Command
c)
Market 
d)
Mixed
26.
Capitalism is most closely related to which type of economic system?
a)
Command
b)
Traditional
c)
Free Enterprise
d)
Mixed
27.
If the supply of a good is higher than the demand, what happens to the price?
a)
It stays the same
b)
Price goes down
c)
Price goes up
d)
It's FREE!!
28.
If there is no competition in your market, how would that impact your business?
a)
You could charge more for your product
b)
You would make more
c)
You would hire more employees
d)
You would charge less for your product
29.
Which of these jobs is involved in production?
a)
Secretary
b)
Factory worker
c)
Truck driver
d)
Zoo keeper
30.
Trading something for something else - no currency involved
a)
demand
b)
barter
c)
goods
d)
market
31.
Tools we use to make products
a)
capital resources
b)
human resources
c)
natural resources
d)
entrepreneurs
32.
Individuals who come up with a new idea for a good or service, then they make it a reality
a)
resource
b)
human resources
c)
consumer
d)
entrepreneur
33.
The resources required to make a product (good or service)
a)
economics
b)
consumption
c)
four factors of production
d)
scarcity
34.
A general increase in prices
a)
price
b)
inflation
c)
scarcity
d)
demand
35.
The idea that resources are limited; we don't have an unlimited supply of what we want
a)
scarcity
b)
supply
c)
demand
d)
inflation
36.

Positive Stress is

a)

Bad Stress

b)

Stress that allows you to not do anything

c)

Stress that is awesome

d)

Stress that can help you reach your goals

37.

What is negative stress

a)

Stress that prevents you from doing what you need to do

b)

Stress that is good

c)

stress is amazing

d)

Stress that allows you to be who you are

38.

Avoiding Stress

a)

Stress is unavoidable

b)

Time management

c)

you can avoid stress

d)

All the above

39.
A video file will have which of the following the extension..
a)
.mpeg
b)
.doc
c)
.fla
d)
.xls
40.
Developing a weekly employee work schedule
a)
Planning
b)
Organizing / Staffing
c)
Leading
d)
Controlling
41.
Reviewing 10 employee applications for cashier vacancy
a)
Planning
b)
Organizing / Staffing
c)
Leading
d)
Controlling
42.
Training employees on clean-up procedures of your restaurant
a)
Planning
b)
Organizing / Staffing
c)
Leading
d)
Controlling
43.
Counting up the day’s sales and reporting it to the owner
a)
Planning
b)
Organizing / Staffing
c)
Leading
d)
Controlling
44.
Creating a training manual for new employees
a)
Planning
b)
Organizing / Staffing
c)
Leading
d)
Controlling
45.
4th quarter sales will increase by 10% due to our new sales campaign
a)
Planning
b)
Organizing / Staffing
c)
Leading
d)
Controlling
46.
Food waste for the month increased by 10 pounds per week; must look for ways to reduce food waste during lunch hour rush
a)
Planning
b)
Organizing / Staffing
c)
Leading
d)
Controlling
47.
Meeting with assistant managers to review employee productivity
a)
Planning
b)
Organizing / Staffing
c)
Leading
d)
Controlling
48.
Taking inventory (count) of all merchandise in stock on a daily basis
a)
Planning
b)
Organizing / Staffing
c)
Leading
d)
Controlling
49.
Conducting a semi-annual employee evaluation with all staff
a)
Planning
b)
Organizing / Staffing
c)
Leading
d)
Controlling
50.
Creating a company mission statement
a)
Planning
b)
Organizing / Staffing
c)
Leading
d)
Controlling
51.
Assigning aisles and stocking protocols to stockers in the grocery department
a)
Planning
b)
Organizing / Staffing
c)
Leading
d)
Controlling
52.
Dismissing (Firing) an employee for poor attendance rate
a)
Planning
b)
Organizing / Staffing
c)
Leading
d)
Controlling
53.
Reviewing the week’s purchases (inventory list) for the store
a)
Planning
b)
Organizing / Staffing
c)
Leading
d)
Controlling
54.
Conducting an employee workshop on customer service relations
a)
Planning
b)
Organizing / Staffing
c)
Leading
d)
Controlling
55.
Creating a list of responsibilities for the assistant manager for closing down the restaurant at night
a)
Planning
b)
Organizing / Staffing
c)
Leading
d)
Controlling
56.
Enrolling your sales staff in a training seminar on “Making an Effective Sales Pitch.”
a)
Planning
b)
Organizing / Staffing
c)
Leading
d)
Controlling
57.
We will cut employee injuries by 50% with our new safety protocol training
a)
Planning
b)
Organizing / Staffing
c)
Leading
d)
Controlling
58.
Supervise employees working the kitchen at your fast-food restaurant
a)
Planning
b)
Organizing / Staffing
c)
Leading
d)
Controlling
59.
A lot of people always say that they don't have time to do what they want or need to do when in fact
a)
They know how to organise their activities
b)
They don't know how to calculate their activities
c)
They don't know how to organise their activities
d)
They don't know how to reduce their activities
60.
.................................. will benefit you in many ways. 
a)
Cool time management
b)
Proper time management 
c)
Suitable time management
d)
Cozy time management
61.
A card that borrows money but it has to be paid back
a)
Debit Card 
b)
Credit Card 
c)
Baseball Card 
d)
Pokemon Card 
62.
The maximum amount the lender is willing to make available to the borrower.
a)
Credit Limit
b)
Credit History
c)
Creditor
d)
Debit Limit 
63.
How do we calculate total costs?
a)
Fixed Costs - Variable Costs
b)
Total Revenue - Fixed Costs
c)
Variable Costs x Total Revenue
d)
Fixed Costs + Variable Costs
64.
Sales - Cost of Sales = ???
a)
Money In
b)
Net Profit
c)
Expenses
d)
Gross Profit
65.
Gross Profit - ??? = Net Profit
a)
Expenses
b)
Sales
c)
Cost of Sales
d)
Money Out
66.
Which of these does not belong on a cash budget?
a)
Money In
b)
Opening Balance
c)
Net Profit
d)
Money Out
67.
Revenue is ...
a)
Money made from selling products
b)
Money paid to suppliers for materials
c)
Expenses x Units produced
d)
Monthly rent payments to landlord
68.
A mortgage is used for ...
a)
Buying a new machine
b)
Buying a new vehicle
c)
Buying land or premises
d)
Paying staff wages
69.
Fixed costs _______ vary with production. (fill in the blank)
a)
Do
b)
May
c)
Sometimes
d)
Do not
70.
Variable costs _______ vary with production. (fill in the blank)
a)
Do
b)
May
c)
Sometimes
d)
Do not
71.
Which source of finance is internal?
a)
Government Grant
b)
Retained Profits
c)
Bank Loan
d)
Overdraft
72.
A job cost statement is produced to ...
a)
Predict how much money we'll make next year
b)
Tell us how much net profit we made
c)
Produce a quotation for the cost of a job
d)
Calculate wage payments for a month
73.

The managers of a business pursue an objective of having adequate cash flow.

What possible conflict of objectives can result from this action?

a)

a conflict between the objectives of efficiency and growth

b)

a conflict between the objectives of profitability and growth

c)

a conflict between managers and shareholders of the business

d)

a conflict between managers and short-term creditors of the business

74.

Which term refers to the extent to which the current assets of a business exceed the current liabilities of that business?

a)

growth

b)

liquidity

c)

solvency

d)

profitability

75.

A company issues shares directly to investors,usually an institution, rather than making a public offering.

What type of equity finance is this?

a)

placement

b)

new issue

c)

rights issue

d)

share purchase plan

76.

Which of the following is a characteristic of equity finance?

a)

The finance must be repaid at a future date

b)

The returns to the suppliers of finance are called dividends

c)

Suppliers of finance have no rights of ownership over the business

d)

Suppliers of finance have prior claim on assets in the event of liquidation

77.

Which of the following is a type of short-term external source of funds?

a)

leasing

b)

overdraft

c)

mortgages

d)

debentures

78.

Which financial institution is most likely to issue debentures as a method of raising finance?

a)

unit trust

b)

investment bank

c)

public company

d)

superannuation fund

79.

Which ONE of the following items would be found in the income statement of a business?

a)

equipment

b)

investments

c)

gross profit

d)

accounts payable

80.

A business has current liabilities of $200 000 million and current assets of $250 000 million.

Which of the following statements correctly describes the position of the business?

a)

The business has a current ratio of 0.8:1 and has a liquidity problem

b)

The business has a current ratio of 1.25:1 and has a liquidity problem

c)

The business has a current ratio of 0.8:1 and does not have a liquidity problem

d)

The business has a current ratio of 1.25:1 and does not have a liquidity problem

81.

Bill's Building Supplies has sold goods totaling $50 000 to a number of builders on 90 days' credit. The business now finds that it has a short-term cash flow problem.

What is the appropriate solution to this problem?

a)

extend trade credit to the builders

b)

sell the debts and lease them back

c)

negotiate a term loan with a finance company

d)

sell the accounts receivable to a finance company

82.

Which ONE of the following is a cost control?

a)

sales mix

b)

pricing policy

c)

sales objectives

d)

expense minimisation

83.

What is Body Language?

a)

Postures, gestures, and facial expressions.

b)

The exchange of information through the use of words.

c)

Your words say one thing but your body language say another.

d)

Speak from your point of view.

84.

Good listening skills include what?

a)

Smiling and waving at people

b)

Yelling loud at people

c)

Writing in slang.

d)

None the above.

85.

Hearing, thinking about and responding to another person’s message is

a)

“I” Message

b)

Active Listening

c)

Body Language

d)

Mixed Messages

86.

Three Styles of Communication

a)

Aggressive, Active Listening, communication

b)

Passive, “I” Messages, Assertive

c)

Aggressive, passive, and assertive

d)

None of the above

87.

The exchange of information through the use of words or actions is

a)

Active listening

b)

Body language

c)

Communication

d)

Aggressive

88.

A situation in which your words say one thing but your body language says another is

a)

An “I” Message

b)

A mixed message

c)

Body Language

d)

Active listening

89.

Which communication style is the most effective?

a)

Aggressive

b)

Passive

c)

Assertive

90.

Which of the following is considered a speaking skill?

a)

Make clear, simple statements

b)

Paying attention

c)

Rereading your words before you send a message

91.

Which of the following is considered a listening skill?

a)

Thinking before you speak

b)

Writing clear, simple statements

c)

Paying attention

92.

In this communication, you think and learn about each other, talk and reason with each other, and evaluate each other.

a)

Intrapersonal communication

b)

Interpersonal communication

c)

Online communication

d)

Machine-assisted communication

93.

37, 34, 31, 28

Which number should come next in the pattern?

a)

24

b)

25

c)

23

d)

27

94.

What number best completes the analogy:


8:4 as 10:

a)

3

b)

24

c)

7

d)

5

95.

Which one of the four is least like the other three?

a)

Dog

b)

Snake

c)

Mouse

d)

Lion

96.

If you are in a race and you pass the person in second place what place are you in?

a)

1st

b)

2nd

c)

3rd

d)

4th

97.

What was the tallest mountain before Mt. Everest was discovered

a)

Mt. Fugi

b)

Mt. Everest

c)

Kilimanjaro

d)

Gurla Mandhata

98.

Which THREE choices are needed to create the figure on the left? Only pieces of the same color may overlap.

a)

A

b)

B

c)

C

d)

D

e)

E

99.

In the following set of words, which THREE words have similar meanings?

a)

endure

b)

persevere

c)

quit

d)

persist

e)

alienate

100.

Accept and except have _________ meanings.

a)

Similar

b)

Different

c)

Unrelated

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