WorksheetsBusiness
Total questions: 26
Worksheet time: 17mins
All businesses have the same structure.
Yes
No
Fill in the blanks using following terms:
Sole Trader/ Company
A _______ has minimal costs to set up, whereas a _________ is expensive to set up.
(a)
Business owners and shareholders are all personally responsible for paying business debt.
Yes
No
The business should consider a variety of factors before deciding on their business structure.
Yes
No
Fill in the blanks with the following terms:
• Importer
• Exporter
An ______ obtains products form overseas to sell in their home country, whereas an _______ sells domestic products to overseas buyers.
(a)
An exporter business model can help promote the growth of Australian industries, such as mining.
Yes
No
All businesses must have a physical store location
Yes
No
Online businesses do not need to consider laws and regulations.
Yes
No
A suitable business location is important as it connects the customers with the business
Yes
No
Fill in the blanks with the following terms:
Capital / Labour
_________ resources are man- made goods used in the production of goods and services, whereas ______ resources are the actual employees needed to conduct business activities.
(a)
The skills and knowledge of employees needs to be considered when planning for labour resources because employees need to have the correct skills and knowledge to match their job.
Yes
No
It is important for businesses to consider how they will obtain money to run their operations.
Yes
No
Fill in the blanks with the following terms:
Public/ Private
______ Equity involves selling shared on the ASX, whereas _____ equity involves selling shares to specially selected individuals or businesses.
(a)
Businesses must pay back government grants with interest
Yes
No
An overdraft should not be used in the long term since it has a higher interest rate compared to other sources of finance.
Yes
No
Purchasing an existing business does not include the cost of stock and equipment.
Yes
No
When starting a new business, the hiring and training of employees needs to be considered.
Yes
No
An advantage of starting a new business is that owners have full decision making power
Yes
No
Fill in the blank with one of the following terms:
Legal/ Financial
An accountant is an example of a (a)
business support service.
Business mentors can guide and assist a business owner in developing management skills.
Yes
No
A business plan does not need to be regularly updated.
Yes
No
Fill in the blank with one of the following terms:
Executive Summary/ Business brand
The (a) includes a summary of the business plan.
Fill in the blanks with the following terms:
Internal/ External
The strengths and weaknesses in a SWOT analysis focus on the business's ................ environment, whereas the opportunities and threats focus on the business's ............... environment.
(a)
Fill in the blank with one of the following terms:
Opportunity/ Threat
Declining economic conditions can be identified as a (a) in SWOT analysis
It is a legal requirement for businesses to be socially responsible.
Yes
No
Stakeholders should be considered when a business undergoes corporate social responsibility planning.
Yes
No
