NEW
Font size
S
M
L
XL
Worksheets2022-10B-AO1
Total questions: 63
Worksheet time: 34mins
Name
Class
Date
1.
Benefit of a sole trader?
a)
Quick and easy to start up
b)
Two or more people to invest
c)
Shared workload
d)
Unlimited liability
2.
what is a benefit of being a sole trader?
a)
unlimited liability
b)
quick and easy to set up
c)
lots of people to work with
d)
democracy
3.
What is an Entrepreneur?
a)
a risk taker that starts their own business or enterprise to make a profit or for ethical reasons.
b)
someone who gives out loans
c)
working for someone
d)
doesnt invest
4.
Benefits of a partnership
a)
Easy to startup & little paperwork once the deed of partnership complete
b)
Unlimited liability
c)
Disagreements may occur
d)
Longer decision-making — all partners must agree
5.
Benefits of a partnership over a soletrader
a)
less people
b)
Wider range of skills and attributes
c)
More control over decision making
d)
Less funding
6.
What is a hierarchy?
a)
is the route/line of communication and authority within a business, it shows the route an order takes to get to its intended recipient.
b)
is the number of people a manager is directly responsible for (only directly under).
c)
shows the layers of management and authority in a business or enterprise.
d)
is the assignment and entrustment of tasks to another person below you in the hierarchy.
7.
Which one of these is an attribute?
a)
Sales
b)
Confidence
c)
IT
d)
Timekeeping
8.
Benefits of a sole trader
a)
Quick and easy to start
b)
unlimited liability
c)
heavy workload
d)
Difficult to raise finance
9.
how a business can increase revenue ?
a)
Get more customers through promotions or offers
b)
reduce costs
c)
make sure that the product is good
d)
get more employees to work for you
10.
the advantages of a franchise ?
a)
Startup and ongoing support from head office
b)
Limited liability protects owners’ personal wealth
c)
Original owners likely to maintain control
d)
Increased business reputation from being legally registered
11.
Benefits of a franchise
a)
Access to an established & recognised business
b)
Less control over business direction
c)
Loss of independence
d)
Startup licence fees can be expensive
12.
what is an advantage of a sole trader?
a)
All profit is kept by owner.
b)
Unlimited liability
c)
heavy workload
d)
difficult to raise capital
13.
Chain of Command
a)
is the route/line of communication and authority within a business, it shows the route an order takes to get to its intended recipient.
b)
are the different levels of employees or management in the organisation.
c)
shows the layers of management and authority in a business or enterprise.
d)
is the number of people a manager is directly responsible for (only directly under).
14.
what one is not an external stake holders
a)
customer
b)
supplier
c)
govenment
d)
employee
15.
benefits of a sole trader
a)
quick and easy to start up
b)
Repetitive production line
c)
Low labour costs
d)
Economies of scale — bulk buy raw materials
16.
Benefits of a PLC
a)
Limited liability protects owners’ personal wealth
b)
Shareholder disagreements can occur
c)
Higher admin costs than sole trader or partnership as there is a legal process of incorporation
d)
Finance through the sale of shares limited to family and friends
17.
Which one of these is a skill?
a)
Independence
b)
Self-starting
c)
Determination
d)
Financial
18.
one with an organizational structure with few or no levels of middle management between top managers and those reporting to them
a)
unlimited liability
b)
tall organisation
c)
flat organisation
d)
mission oriented organisation
19.
advantages of a franchise
a)
Unlimited liability
b)
Loss of independence
c)
Less risk as the business is already proven to work
d)
Shareholder disagreements can occur
20.
What is a Tall organizations
a)
have few layers of management in its organizational hierarchy.
b)
have many layers of management in its organisational hierarchy.
c)
is the assignment and entrustment of tasks to another person below you in the hierarchy.
d)
Sandwhich?
21.
revenue
a)
income to help pay for expenses
b)
profit coming in
c)
pay money to goverment
d)
paying taxes
22.
what is an advantage to Delegation
a)
efficient use of staff downtime when subordinates are not busy
b)
subordinates may feel pressured or stressed with extra tasks
c)
subordinates may be inexperienced or unqualified to complete the job
d)
hard to delegate in small or tall businesses as key information is lost in a long chain of command
23.
What is a sole trader?
a)
Owning a company with your mate
b)
Owning company by yourself
c)
limited liability
d)
working for someone
24.
advantages of delayering
a)
very expensive and difficult to administer
b)
removing redundant roles
c)
Shorter chain of command
d)
harder to control
25.
benefits of a cooperative
a)
People closest to the cooperative are more satisfied as they receive a percent of the profits
b)
Difficult legal structure to form
c)
Financial information publicly available
d)
The members might be inexperienced and not have adequate business acumen
26.
Tall organisations
a)
s the assignment and entrustment of tasks to another person below you in the hierarchy.
b)
have few layers of management in its organizational hierarchy.
c)
have many layers of management in its organisational hierarchy.
d)
are the different levels of employees or management in the organisation.
27.
what is a benefit of a partnership?
a)
Easy to startup & little paperwork once the deed of partnership complete
b)
Unlimited liability
c)
Profits are shared
d)
Less risk as the business is already proven to work
28.
what is tall orgnisations
a)
is the assignment and entrustment of tasks to another person below you in the hierarchy.
b)
have many layers of management in its organisational hierarchy.
c)
is the number of people a manager is directly responsible for (only directly under).
d)
are the different levels of employees or management in the organisation.
29.
the line of authority that moves from the top of a hierarchy to the lowest leve
a)
market share
b)
chain of command
c)
delegation
d)
heirarchy
30.
Benefits of a flat structure?
a)
Smaller span of control
b)
more funding
c)
Wider span of control
d)
More layers
31.
Which of these is not a SMART objective?
a)
Specific
b)
Realistic
c)
Liability
d)
Timed
32.
what is a cooperative?
a)
a legal agreement with another business to sell its products.
b)
a business owned by shareholders that have bought shares on the open stock market, that is open to the general public.
c)
a business owned by shareholders that are family and friends.
d)
a business owned by the community closest to the business, for example, its employees or customers
33.
What is a disadvantage of a partnership?
a)
Easy to startup & little paperwork once the deed of partnership complete
b)
profits are shared
c)
shared work load
d)
Partners can specialize in different areas.
34.
what is a benefit of a franchise?
a)
Less control over business direction
b)
Startup licence fees can be expensive
c)
Startup and ongoing support from head office
d)
Easier to raise finance
35.
What is a hierarchy?
a)
shows the layers of management and authority in a business or enterprise
b)
a name
c)
democracy
d)
taco
36.
what is an advantage to delayering
a)
Give remaining workers more authority and responsibilities
b)
Wider span of control
c)
Experienced and skilled managers may be lost
d)
Can be very expensive and difficult to administer
37.
what is the definition of an employee?
a)
a person who pays for goods.
b)
a worker who is hired to perform a job.
c)
the person who owns the business.
d)
none of the above.
38.
Delayering
a)
is when a business removes a layer of management from its organisational hierarchy — it becomes flatter.
b)
is when a business eliminates a certain job role.
c)
s when a company changes its internal structure.
d)
Businesses are usually organised by departments
39.
who has Unlimited liability?
a)
Sole trader
b)
bank
c)
employee
d)
goverment
40.
internal stakeholders
a)
Employees
b)
Customers
c)
Finance providers
d)
Local community
41.
what does a successful entrepreneur do?
a)
raise the source of finance needed
b)
takes risks to start a business
c)
constantly be looking be looking or opportunities
d)
makes more money
42.
what benefit does a Public Limited Company have?
a)
People closest to the cooperative are more satisfied as they receive a percent of the profits
b)
Limited liability protects owners
c)
More complex legal recording procedure
d)
Financial information publicly available
43.
What is the maximum number of owners in a partnership?
a)
2
b)
20
c)
200
d)
Unlimited
44.
what is an advantage of redundancy
a)
Cut the costs of wages and salaries (long term)
b)
High redundancy payments (short term)
c)
Poor employee morale
d)
Risk losing good employees
45.
internal stake holder
a)
Customers
b)
Shareholders
c)
the government
d)
Owners
46.
What's an entrepreneur?
a)
An employee
b)
a risk taker that starts their own business or enterprise to make a profit or for ethical reasons
c)
A gamer
d)
Someone that owns a pet
47.
what is a Tall organisation
a)
is the number of people a manager is directly responsible for (only directly under).
b)
are the different levels of employees or management in the organisation.
c)
have many layers of management in its organisational hierarchy.
d)
have many layers of management in its organisational hierarchy.
48.
advantages of delayering
a)
cut the costs of wages and salaries
b)
High redundancy payments (short term)
c)
give remaining workers more authority and responsibilities
d)
Can be very expensive and difficult to administer
49.
has many levels of authority relative to company size
a)
value network
b)
tall organization
c)
flat organization
d)
hierarchy
50.
Advantage of a franchise
a)
Easy to grow the business
b)
Less control over the business direction
c)
loss of independence
d)
Paying percentage of profits to franchisor
51.
what are layers
a)
are the different levels of employees or management in the organisation.
b)
the amount of walls a house has
c)
is the number of people a manager is directly responsible for
d)
are the people below a manager in the hierarchy. E.g. salesperson is a subordinate of the head of sales.
52.
what is an entrepreneur?
a)
people who start their own business or enterprise.
b)
a system in which members of an organization or society are ranked according to relative status or authority.
c)
when a business eliminates a certain job role.
d)
when a company changes its internal structure.
53.
Internal stakeholders
a)
Local community
b)
government
c)
Owners
d)
Shareholders
54.
external stakeholder
a)
local community
b)
customers
c)
financial poverty
d)
suppliers
55.
what has the definition of, has many layers of authority relative to company size?
a)
tall organisation
b)
flat organisation
c)
delayering
d)
chain of command
56.
What's an attribute
a)
things that you can learn
b)
A good entrepeneur
c)
A large profit
d)
something that you naturally have
57.
what is Chain of Command
a)
is the assignment and entrustment of tasks to another person below you in the hierarchy.
b)
is the number of people a manager is directly responsible for (only directly under).
c)
are the people below a manager in the hierarchy. E.g. salesperson is a subordinate of the head of sales.
d)
is the route/line of communication and authority within a business, it shows the route an order takes to get to its intended recipient.
58.
what is a chain of command ?
a)
is the route/line of communication and authority within a business
b)
is the assignment and entrustment of tasks to another person below you in the hierarchy.
c)
different levels of employees or management in the organisation.
d)
is the number of people a manager is directly responsible for
59.
what is a tall organisation
a)
flat structure
b)
spread out structure
c)
small amountof woekrs
d)
w
60.
sustaibablilty
a)
using raw materials from earth that last a long time
b)
after you eat mac Donald you put your rubbish i the bin
c)
not eating meaT
d)
DONT USE TREE
61.
overall goal of the business
a)
aim
b)
objective
c)
limited liability
d)
sole trader
62.
Which is an advantage of being in a partnership?
a)
Unlimited liability
b)
Disagreements
c)
Shared workload
d)
Shared profits
63.
what will increase revenue
a)
upping the price
b)
lowering the price
c)
making a new product
d)
making a discount
Reset
