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WorksheetsBusiness Year 11 TRIAL REVISION TEST
Total questions: 88
Worksheet time: 46mins
A firm produces 500 units at a total cost of $2,000. What is their average total cost of production?
$4 per unit
$5 per unit
$3 per unit
$2 per unit
What is multinational corporations ?
a company that is primarily based in more than one country
a company that is primarily based in one country
a company that is primarily based in some countries
What is limited liability?
Being liable for all debts and losses
Not being liable for all debts and losses
Franchiser owns the brand
True
False
Which of the following is an example of external communication?
Sending a customer information about a special offer
A departmental staff meeting
A training session for a new recruit
A presentation by the chairman to the senior management team
__________ sending and receiving the messages
Communication
Speaking
Written
Which of the following is the most appropriate method of communication for requesting an urgent delivery of components?
Business report
Telephone call
Letter
How is working capital calculated?
current assets – current liabilities
fixed assets – current liabilities
owners capital – current liabilities
total assets – current liabilities
Which is a measure of profitability?
current ratio
quick ratio
rate of stock turnover
return on capital employed
How is the profit as a percentage of the capital employed calculated?
(gross profit / assets ) x 100%
(net profit / assets ) x 100%
(gross profit / capital ) x 100%
(net profit / capital ) x 100%
The marketing Mix has_________ elements.
3
2
4
What is not part of the marketing mix ?
Place
Product
Price
Person
A Business that breaks even has total revenue of US$5 600 000 and fixed costs of US$2 000 000. Therefore the value of variable cost?
US$ 2 000 000
UD$5 600 000
US$7 600 000
US$3 600 000
The ROCE is given by which formula?
Gross profit / Revenue x 100
Operating profit / Capital Employed x 100
Operating profit / Revenue x 100
Current assets / Current Liabilities
Recruitment is...
the encouragement of people to apply for a job vacancy
the process of choosing the best person from those that have applied
Which would come under person specification?
Qualifications
Skills
Holiday entitlement
Personality Type
Which one is field research?
Marketing website
Online survey
Government reports
School website
____________ are detailed measures that feed KPIs.
Matrics
Matrix
Metrics
Mantics
What are fixed expenses?
Irregular expenses that change from week to week or month to month
The amount of money in your bank account
The amount of cash in your purse or wallet
Expenses that stay the same from week to week or month to month
What are variable expenses?
Irregular expenses that change from week to week or month to month
The amount of money in your bank account
Costs that do not fluctuate from week to week or month to month
The amount of cash in your purse/wallet
A Salary payment is a fixed cost.
True
False
Dara makes bracelets and sells them in her shop. Which is a fixed expense for Dara’s business?
the cost of the beads
the cost of the string
the cost of advertising
rent for her shop
Material is a
Fixed Expense
Variable Expense
What is a variable cost?
A cost which does not change
A cost which they must pay even if they produce nothing
A cost which changes the more or less the business produces
A cost the business pays when they start
Which of these is NOT a category in Maslow's hierarchy of needs?
Social
Travel
Esteem
Safety
Which theorist believed that the only way to motivate staff is with money?
Mayo
Taylor
Herzberg
Maslow
What is the first level/bottom level of the hierarchy?
Love and Belonging
Safety and Security
Physiological Needs
Self-Esteem
What is decentralization?
Decision making authority provided to customers
Decision making authority shared with other member of the firm
Less delays in decision making
Decision making power only given to senior executives and BOD
How does centralization aid in rapid decision-making?
Less people making decision, so conclusion reached quickly.
More people making decision, so conclusion reached quickly.
Less people making decision, so conclusion reached over a long period of time.
It doesn't aid in rapid decision making.
_____ defines how job tasks are formally divided, grouped, and coordinated.
Organizational structure
work speacialization
Departmentalization
Organizational behavior
Work specialization is the same as _____.
a. departmentalization
b. division of labor
c. decentralization
d. job grouping
The right inherent in a managerial position to give orders and expect orders to be obeyed is termed _____.
. chain of command
authority
power
unity of command
The _____ refers to the number of subordinates that a manager directs.
A. span of control
B. unity of command
C. chain of command
D. decentralization principle
What does PLC stand for?
Public Limited Company
Profit/Liability Curve
Princesses Like Crowns
Probably Locking Cages
What is the simple difference between a public and private limited company?
A public limited company is public and a private limited company is private.
There are no differences.
The public limited company can quote shares in a stock exchange while a private limited company cannot.
One does not deal with shares while the other does.
What is are some characteristics of a public limited company?
A name, unlimited liabilities, perpetual succession
A name, limited liabilities, perpetual succession
A single person, shares, advertisements
A song, a dance, a clown
What are some documents required for the formation of a public limited company?
Article and memorandum of association.
A car.
An already established business.
A private jet.
What are the main managers/owners of a public limited company called?
Owners and managers
Bosses and mentors
Directors and shareholders
Principals and boards
What is one advantage of a public limited company?
They get free food.
They can tell private limited companies what to do.
They can buy an unlimited amount of vehicles.
Shares are easily transferable.
What is a regional example of a public limited company?
WASA
Amazon
Phats International Styles
Caribbean Assurance Brokers Limited
Partnership is the relation which subsists between persons who have agreed to combine their property,
labour or skill in some business and to share the profits there from between them.
True
False
Partly true
None of the above
A ...........partner is one whose association with the firm is unknown to the general public.
Active
Sleeping
Secret
Nominal
It is optional for a partnership firm to get registered
True
False
Partly true
None of the above
Check all the possible situations in which a partnership firm comes to an end
Retirement
Death
Lunacy
Insolvency
Decision is taken in partnership firm
Individually
By the partner who has invested more money
By anyone
Mutually
What is unlimited liability?
If the business fails you will not lose personal possessions
If the business fails you will lose personal possessions
If the business fails the debtors become shareholders
If the business fails the debtors take over
A sole proprietor has to share the profits made by the business. True or False?
True
False
Select TWO true statements that relate to a sole trader.
Sole traders have limited liability
Sole traders get to make all their own decisions about the business
Sole traders may find it harder to raise funds for the business
Sole traders usually get more holidays than partners or directors
Unlimited Liability is
The owner has to pay off all the debts of the business. To the extent that their private assets may be sold to cover the businesses debts.
When a company's shareholders have to pay only their share value to meet debts incurred by the company.
Sole traders have unlimited liability. True or False?
False
True
Place
An element of the marketing mix related to how to get the product from the producer to the customer
The location of the business
The positioning of a particular business within a geographical area
The development of online sales
A discount supermarket, such as Aldi, is most likely to place an emphasis upon which of the following elements of the marketing mix?
Product
Price
Place
Promotion
What is digital marketing?
The marketing of products or services through digital methods such as the internet.
The marketing of a digital product such as a mobile device or computer.
CPM is the acronym for?
Clicks Per Mile
Clicks Per Minute
Ensuring a website appears high on the list of results returned by a search engine
Web analyzing
Search Developing
Search Engine Optimisation
Content Managing
Which is not a stage of the product life cycle?
Product development
Introduction
Decline
Maturity
Competitive growth
Select the products that do not follow the product life cycle.
Fads
Styles
Automobiles
Fashions
It is a stage wherein sales volume peak.
Introduction
Growth
Maturity
Decline
Sales start to drop during the ___________ phase.
Introductory
Maturity
Growth
Decline
Right now, Coca Cola is in the ___________ phase.
Introductory
Growth
Maturity
Decline
Products that are in the maturity phase are called (a) .
Which is not a disadvantage of having a brand name?
brands can be copied with fake imitation products
it is expensive to create and market a brand
gives the company a good reputation and image
if one product in the brand is tarnished the whole brand is impacted
Why do businesses use market research?
To identify customer needs
To sell goods and services
To advertise
As a stakeholder, what interest would the shareholders have in a business?
Increasing working conditions
Business Relationships
Business Profitability
Staff Pay
