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Nat Business Management

Total questions: 46

Worksheet time: 25mins

Name
Class
Date
1.
Which is an example of a non-durable good?
a)
Laptop
b)
Mobile phone
c)
Newspaper
d)
Swimming lesson
2.
What does intangible mean?
a)
Can't hear it
b)
Can't see it
c)
Can't touch it
d)
Can't eat it
3.
What is not a factor of production?
a)
Advertising
b)
Labour
c)
Land
d)
Enterprise
4.
What is the missing word in this sentence ...
Wealth is created by adding _____________ 
a)
Layers
b)
Services
c)
Products
d)
Value
5.
What is an example of a sector of industry?
a)
Private
b)
Secondary
c)
Public
d)
3rd Sector
6.
Which sector of industry provides a service such as entertainment, beauty, banking etc?
a)
Tertiary
b)
Secondary
c)
Primary
d)
Private
7.
Select which business organisation would be found in the private sector
a)
Local Government such as Inverclyde Council
b)
Sole Trader
c)
Social Enterprise companies such as Fresh
d)
Non-profit making organisation such as the BB
8.
Which is not a benefit of being a sole trader?
a)
All profits are kept by owners
b)
Easy to set up with no official paperwork such as Memorandum of Association neede
c)
Unlimited liability for sole trader
d)
Owner makes all the decisions without having to consult anyone else
9.
Which is not a benefit of being in a partnership?
a)
Different partners can bring in different skills to help improve the business
b)
Finance can be raised more easily
c)
Workload and responsibility can be shared
d)
Profit is split between the different partners
10.
What does Ltd mean?
a)
Private Limited Company
b)
Public Limited Company
c)
Private Licenced Company
d)
Public Licenced Company
11.
Where must a Ltd send its legal documents when setting up?
a)
Register House
b)
Companies House
c)
Association House
d)
Principle House
12.
What is a major advantage of being a Ltd?
a)
Complicated legal paperwork during set-up
b)
Financial accounts must be published each year
c)
Limited liability for shareholders
13.
What is the name given to the financial rewards given to shareholders once or twice a year?
a)
Interest
b)
Dividends
c)
Cheques
d)
Credits
14.
Which is an example of a public sector organisation?
a)
Tesco plc
b)
Arnold Clark
c)
BBC
d)
Cineworld Cinemas
15.
Which is not a way of delivering excellent customer service?
a)
Making sure staff are untrained
b)
Having a customer complaints procedure
c)
Having after-sales strategy
16.
Which is not an objective of a company in the private sector?
a)
To maximise profits for owners or survive in a recession
b)
To stay within budget limits set by National Government
c)
To be socially responsible 
d)
To grow the company and increase market share
17.
Spot the internal factor amongst this list which can impact a business
a)
Political influences e.g. changes in the law
b)
Influence of competitors e.g. reduce their prices
c)
Economic influences such as recession
d)
The influence of staff e.g. quality of their work
18.
Which of the following is NOT an economic influence
a)
Changing weather patterns
b)
High unemployment
c)
Change in foreign exchange rates
d)
Increase in bank interest rates
19.
The Scottish Parliament recently brought in a 5p charge for plastic carrier bags. Which external factor is this an example of?
a)
Competition
b)
Environmental
c)
Social/Cultural
d)
Political
20.
DVD players are very hard to purchase now. Which external factor has caused this?
a)
Competition
b)
Environmental
c)
Social/Cultural
d)
Political
21.
Which of the answers below is NOT an example of a competitive influence?
a)
Better product range available elsewhere
b)
Lower prices on offer by rival
c)
New technology such as increased use of Social Media
d)
Eye catching advertising by a new start-up company
22.
Which of the answers below is NOT an internal factor?
a)
Size of premises
b)
Finance available
c)
Employees and managers in business
d)
Technology current in use
23.
What is the generic name for any person or group of people who have an influence or interest in an organisation?
a)
Shareholder
b)
Stakeholder
c)
Owners
d)
Investors
24.
Who wants the business to make a profit so that they get a good return on their investment?
a)
Employees
b)
Local Government
c)
Banks
d)
Owners/shareholders
25.
Who wants paid on time for the materials they supply and who can increase prices or delay delivery to influence the company?
a)
Employees
b)
Local Government
c)
Suppliers
d)
Owners/shareholders
26.
Which stakeholder can influence a business by refusing to grant planning permission?
a)
Customers
b)
Local Government
c)
Local Community
d)
Pressure Groups
27.
A factory in Wishaw manufacturing lawn mowers is an example of a company in
a)
The tertiary sector
b)
The public sector
c)
The secondary sector
d)
The 3rd sector
28.
An objective of a social enterprise like The Big Issue is
a)
To provide job opportunities and training for people who have experienced problems in the past
b)
To buy over other competitors and become the most dominant firm in the industry
c)
To provide as high a dividend as possible for shareholders
d)
To maximise profit and give the owner increased wealth
29.
What is the main objective of a charity?
a)
To maximise profits by keeping costs low
b)
To raise as much money as possible through donations and fundraising
c)
To expand overseas and target new and emerging markets
d)
To sell more shares and increase the number of investors
30.
What is a Mission Statement?
a)
A document used to detail the promotional activities of a firm
b)
A document which shows the discipline procedure in an organisation
c)
A document completed after a recruitment interview
d)
A document that sets out the aims and objectives of an organisation
31.
The number of levels of management that a business needs usually depends on the:
a)
goals of the company. 
b)
size of the business
32.
It is important for employees to follow the rules of conduct established by management to:
a)
ensure that everyone is compensated the same way
b)
maintain a consistent and fair work environment.
33.
If an employee continuously fails to follow the firm’s rules of conduct, the firm is likely to:
a)
promote the employee. 
b)
 take disciplinary action
34.

A formal summary of a businesses goals and values is a

a)

Policy

b)

Business Plan

c)

Schedule

d)

Mission statement

35.

Which of these is a secondary industry?

a)

Car builder

b)

Hair dresser

c)

Train driver

d)

Banker

36.

What type of training is given to new employees for them to learn health & safety procedures and company policies?

a)

On the job training

b)

Off the job training

c)

Shadowing

d)

Induction

37.

Which option is NOT a consequence of industrial action for a business?

a)

Production stopping

b)

Lost sales

c)

Positive publicity

d)

Unable to meet customer orders

38.

Which of the following are NON-FINANCIAL methods of motivation?

a)

Bonus payment

b)

Praise & recognition

c)

Training & development

d)

Sales commission

39.

Which of the following products is likely to be made using job production?

a)

Heinz baked beans

b)

Cadburys Dairy Milk

c)

Land Rover car

d)

Made to measure wedding dress

40.

Which of the following is a feature of flow production?

a)

Products are produced continually on a production line

b)

Products are one-off meeting customer needs exactly

c)

Products are made in small identical groups

d)

Cost of producing one unit is high

41.

Which of the following stock control methods would involve frequent deliveries?

a)

Flow production

b)

Just in case

c)

Job production

d)

Just in time

42.

Total quality management aims to:

a)

Give production line staff minimal say in the level of quality standards

b)

Check quality standards at the end of the production line

c)

Ensure that quality is the responsibility of everyone in an organisation

d)

Ensure a single person/single team is responsible for quality

43.

Which financial statement would list both GROSS PROFIT and PROFIT FOR THE YEAR?

a)

Cash budget

b)

Statement of financial position

c)

Income statement

44.

True or false. NET PROFIT is also known as PROFIT FOR THE YEAR

a)

True

b)

False

45.

Within which financial document forecasts ahead to determine whether or not a business will have a cash surplus or a cash deficit?

a)

Cash budget

b)

Bank statement

c)

Income statement

d)

Statement of financial position

46.

Which would be positive steps in dealing with a cash flow problem?

a)

Sell some non-current assets (e.g vehicles or machinery)

b)

Run a sales promotion to generate more sales revenue

c)

Negotiate with suppliers to increase the length of time within which payments must be made

d)

Offer a small discount to customers to encourage them paying promptly

e)

All of these

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