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WorksheetsQuiz in Organization and Management 401
Total questions: 40
Worksheet time: 19mins
The business has staff who are experienced and well- trained.
Strength
Weakness
Opportunity
Threat
There are new technologies that are better and more advanced than what the business uses.
Strength
Weakness
Opportunity
Threat
The government strongly supports small and medium enterprise to boost the growth of businesses.
Strength
Weakness
Opportunity
Threat
The business is located in an area that has much foot traffic.
Strength
Weakness
Opportunity
Threat
New and popular products are being introduced in the market from overseas.
Strength
Opportunity
Weakness
Threat
The establishment looks old and needs repair.
Threat
Opportunity
Weakness
Strength
The owner has invested adequate capital into the business.
Threat
Weakness
Opportunity
Strength
The business space has limited capacity to entertain many customers at the same time.
Strength
Weakness
Opportunity
Threat
The small nature of the business enables it to provide excellent customer care because the small amount of work allows its staff to devote more time to customers.
Strength
Opportunity
Weakness
Threat
The small size of the business workforce puts it in a vulnerable position when a staff member becomes sick or takes a leave from work.
Strength
Weakness
Opportunity
Threat
New methods of food production that are better and more efficient are coming out.
strength
weakness
opportunity
threat
The community is highly populated and the purchasing power of the people is stable.
strength
weakness
opportunity
threat
There are many bakeshops in the area and more skillful baker.
Strength
Threat
Opportunity
Weakness
Good relationship between employers and employees.
Strength
Weakness
Threat
Opportunity
The quality of baked products is maintained.
Threat
Weakness
Strength
Opportunity
A business with one owner is known as a:
Company
Sole trader
Partnership
A business run by 2-20 people and has unlimited liability is known as a:
Company
Sole trader
Partnership
The two forms of business ownership with unlimited liability are:
Sole trader
Public company
Partnership
Private company
Advantages of a sole trader are:
Limited liability
The owner makes all the decisions
The owner takes all the profit
Can raise substantial capital
Advantages of a partnership are:
The partners split the profit
Unlimited liability
Raise more capital than a sole trader
Share the workload
Which of the following best describes the term limited liability? If the business fails:
Personal possessions of the owner can be taken to pay any debts
The owner is personally liable for all the debts of the business
There is no limit on the amount the owner has to pay to settle debts
The owner only loses the amount invested in the business
Which of the following is a drawback for an entrepreneur setting up a business as a sole proprietorship?
Profit is shared
Financial accounts are kept private
Limited liability
Unlimited liability
Which of the following is an advantage of operating a large established business as a corporation?
Shares can be sold to the public to raise additional finance
Financial accounts are published
Shares can only be sold to invited investors to raise finance
Owners have unlimited liability
A private held coporation may change into a public corporation because it wants:
Limited liability
To raise additional finance
Unlimited liability
To avoid takeover
Which legal structure would an individual wishing to start-up a small business choose because it is quick, easy and inexpensive to set up?
Sole proprietorship
Partnership
Privately Held Corporation
Corporation
Two Brothers Pizza would most likely show which type of ownership
Partnership
Corporation
Stock and Bonds
Single Ownership
What form of business ownership is subject to the least taxation and government regulation?
Sole Proprietorship
Limited Partnership
Family owned business
Corporation
Advantage: Shared responsibility
Sole Proprietorship
Partnership
Franchising
Entrepreneurship
Sole Proprietorship: All responsibilities are yours
Advantage
Disadvantage
Two heads are better than one
Advantage: Sole Proprietorship
Disadvantage: Partnership
Advantage: Partnership
Disadvantage: Sole Proprietorship
Which of the following business are examples of SOLE PROPRIETORSHIP? (Choose 2)
_____ is the general response to a particular problem or situation.
Objectives
Strategy
Policy
Rule
___________ defines the broad parameters within which a manager may function.
Objective
Policy
Rule
Budget
Planning can eliminate changes or events.
True
False
A business run by 2-20 people and has unlimited liability is known as a:
Company
Sole trader
Partnership
