WorksheetsAll Units study 2023
Total questions: 20
Worksheet time: 12mins
The profit and loss account
Shows the liabilities of a business
Lists all revenues and expenditures of a business over a period of time
Shows all assets of a business during a trading period
Shows the amount of money owed to other businesses
The stage in a product's life cycle that requires significant investment yet often incurs losses is
Decline
Growth
Launch
Maturity
The sector that provides intellectual, knowledge-based activities to generate and share information, eg R&D, consultancy services and scientific research.
Primary
Secondary
Quaternary
Quinternary
The role of operations management is to turn factors of production into the output of goods and services in a cost-effective way.
True
False
A firm’s growth can be measured by:
Number of employees
Revenue
Profit
All of the above
A benefit of being a small business is:
Discounts can be offered to customers due to bulk purchases made by the business
Personalized customer service is typically more common
Brand recognition
More choices offered to customers
An example of Organic Growth is:
Strategic Alliance
Being acquired by another business
Joint Venture
Changing the price of your products
This is when businesses become too large and it results in higher costs because of inefficiency.
Diseconomies of Scale
Economies of Scale
Marketing Economies
Managerial Economies
Draw me a Business - $$$ for Best Drawing
Spreading of marketing messages about a company and the quality of products or services between customers. The most cost effective method of promotion.
(a)
(a) refers to the purchase of an (b) with the potential to yield future (c) benefits.
management of a company, product, brand, etc. so that it satisfies the needs of customers
(a)
A mission statement outlines the why an organization exists.
TRUE
FALSE
In China, the Shanghai Disney Resort is owned 47% by the Walt Disney Company with the Chinese government owning the remaining 53% majority stake
PPP
PLC
Private Limited Companies
Companies Corporations
An example of psychological pricing is...
A car for $29 999
Maccas matching Hungry Jack's meal prices
Johnny Walker increasing its prices
Apple lowering their prices to remain competitive
Which part of the business plan includes the market niche, pricing, company image, and branding?
operations plan
finance plan
marketing plan
executive summary
What is a characteristic of the executive summary in a business plan?
It contains details.
It describes your service plan.
It discusses how you will fill in any gaps in expertise.
It tells the most important points of the business plan.
Which is NOT a characteristic of a successful entrepreneur?
Creative
Inquisitive
Goal-Oriented
Procrastination
The value of one currency in terms of another currency is:
exchange rate
interest rate
exchange level
currency value
Choose the definition of inflation:
the rare of change in average level of wages
the decrease in a currency value
the rate of change in average level of prices
the increase of a level of interest rates
