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business organisation

Total questions: 16

Worksheet time: 38mins

Name
Class
Date
1.
The best definition of a sole trader is a business that
a)
only employs one person
b)
is owned by one person
c)
has a single customer
d)
is a single firm in the industry
2.
One disadvantage of a sole trader business is that
a)
capital is limited to the owner's savings and bank loans
b)
decisions take too long to make
c)
owners may disagree 
3.
One of the advantages of a partnership is that
a)
all partners have limited liability
b)
shares can be sold on the Stock Exchange
c)
the business can survive the death of the partners
d)
the business has access to more capital than a sole trader
4.
The people who make the major policy and financial decisions in a corporation are the 
a)
investors
b)
board of directors
c)
managers
d)
owners
5.
A(n) ______ is a short, specific written declaration of the reason a business exists and what it wants to achieve.
a)
statement of intent
b)
affirmation of purpose
c)
mission statement
d)
declaration of principle
6.
What are the 5 key functional areas that may come up in the exam paper?
a)
HR, Finance, Operation, Admin & ICT, Marketing
b)
HR, Finance, Customer Service, Admin & ICT, Marketing
c)
HR, Finance, Operation, Admin & ICT, Product Management
d)
HR, Finance, Logistics, Admin & ICT, Marketing
7.
What is the key responsibility of the marketing functional area? 
a)
It is where they think of ways to sell the products to customers
b)
It is where they make the products
c)
It is where they organise and deal with people in the organisation
d)
It is where they pay for the running of the business
8.

Which of the following describes a local business?

a)

A business that has operations in two countries

b)

A business that has 20 locations in a particular country

c)

A business that operates in its own community

d)

A business that has locations on three continents

9.

Which of the following describes a NATIONAL business?

a)

It has 20 locations within its country.

b)

It has 3 locations in one city.

c)

It has locations in 4 countries around the world.

d)

It has one location in its own community.

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.

Organisations are usually organised into ....

a)

Groups

b)

Departments

c)

Branches

13.

An organisation shows everyone in the organisation from the top to the bottom.

a)

True

b)

False

14.

What information can be included on an Organisation Chart

a)

Job Titles

b)

Date of Birth

c)

Names

d)

Room Numbers

e)

Photograph

15.

What does an Organisation Show?

a)

Who does what job

b)

Who makes decisions

c)

Who is friends with who

d)

Who has authority over whom

e)

Who wants a promotion

16.

Select an Advantage of having an Organisation Structure.

a)

Useful to see who is most likely to get a promotion.

b)

Useful for new employees to get an overall feel for the business.

c)

Useful to see who is good at their job.

d)

Useful for visitors to see the overall size of the business

and where people fit in.