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Worksheetsbusiness
Total questions: 12
Worksheet time: 4mins
Which of the following is a possible risk for someone who runs their own business?
business success
financial loss
profit
none of the above
What is the purpose of business activity?
To produce goods and services that customers want
To provide goods and services that nobody wants
To only produce goods and services that meet basic needs
to make profit
What is usually the first section of a business plan?
Business aims and objectives
Revenue forecast
Business idea
Suppliers
What 2 main categories of research might a business undertake in order to complete a business plan?
Primary and secondary research
Secondary and tertiary research
Primar research and surveys
Primary and tertiary research
What are the 4 business ownerships?
Sole operator, partnership, PLC and LTP
Sole trader, LTD, PLC, Partnership
Limited liability company
Unlimited liability company
Which is the following statements about partnership is true?
A partnership can have a maximum of 20 owners
A partnership must have at least 2 owners
A partnership must have a deed of partnership
All of the above
What is the difference between an aim and an objective?
An aim is the overall goal and objectives are the steps to achieve it
An objective is the overall goal and aims are the steps to achieve it
A aim is where the business wants to be in 10 years and the objectives are where the business wants to be in five years
None of the above
Which of these objectives for a small business follows the SMART acronym?
To earn £100,000 in 2020
To earn £1,000 profit each month for the next year
To earn £150,000 profit each week for the next month
£200000 every day
What is a stakeholder?
A person who has an interest in the business
A person who has limited liability
A person who has a share of your business
All of the above
Which stakeholder usually has the most influence on business decisions?
Suppliers
Pressure groups
Owners
Employees
Which best describes a takeover?
Where a business opens new branches
Where one business buys another business
Where 2 businesses join together to form a single new business
None of the above
Which is an example of organic growth?
Taking over a supplier
Merging with a competitor
Launching a range of new products
All of the above
