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WorksheetsBusiness 8A 8B
Total questions: 25
Worksheet time: 14mins
A sole trader is...
an individual who owns a fraction of a business.
a person who owns and runs a business alone.
2 or more people that own a business.
One advantage of a sole tarder ...
Bring more expertise to the business than one person
Complete control over all the important decisions
Greater stability
One disadvantage of a sole tarder ...
There is a lack of continuity
Greater chance for expansion.
Greater stability
Partnership is ...
2 or more people in charge of a business.
2 or more people who buy products.
2 or more people who acquire goods and services in group.
The term 'sleeping partner' belongs to
Companies
Sole trader
Partnership
One advantage of partnerships
Flexibility
They often have more efficient production.
Close ties to costumers
One disadvantage of partnerships
Flexibility
Lack of continuity
Profits have to be shared.
A shareholder is a person who ...
owns the entire business and manage everything by his own.
owns and runs a business using shares as his business tool.
owns a fraction of a business in a form of shares.
Shareholders has limited liability.
True
False
The price of the shares do not decrease anytime.
True
False
The money that a shareholder recieves is called dividends.
True
False
One advantage of companies
There are posibilites for expansion.
Decision making is a simple process.
Limited finance.
One disadvantage of companies
There are no posibilites for expansion.
Control over all decision
There is loss of privacy
For-profit social entities aim to make a profit.
True
False
Types of For-profit social entities
Cooperatives
NGOs
Micro financers
Charities
PPP
Non-profit social entities aim to meet a social need.
True
False
Types of Non-profit social entities
Cooperatives
NGOs
Micro financers
Charities
PPP
Successful businesses have a clear identity, shared values and a sense of purpose that all stakeholders identify with.
False
True
A vision statement...
points to the future and inspires employees.
points to the present sales of a business.
points to the past and focuses on profits.
A mission statement...
indicates and motivates external stakeholders.
indicates the reasons why a business exists.
indicates what must be done to achieve the vision.
Operational objectives ...
they are considered as ‘global objectives’
they are considered as ‘medium – to short- term objectives’
they are considered as ‘day-to-day objectives’
Tactical objectives ...
they are considered as ‘global objectives’
they are considered as ‘medium – to short- term objectives’
they are considered as ‘day-to-day objectives’
Strategic objectives ...
they are considered as ‘global objectives’
they are considered as ‘medium – to short- term objectives’
they are considered as ‘day-to-day objectives’
Internal factors that change conditions in a business
Social
HR
Political
Product
Leadership
External factors that change conditions in a business
Ethical
HR
Ecological
Organization
Technological
