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CIE AS Business Exam

Total questions: 140

Worksheet time: 2hrs 43mins

Name
Class
Date
1.

An entrepreneur is someone who:

a)

is an employee of a business enterprise

b)

takes the risk of starting and managing a business venture

c)

works for the government to provide public services

d)

just provides capital to a business start-up

2.

The machinery that is used by a business is an example of which factor of production?

a)

Land

b)

Labor

c)

Capital

d)

Enterprise

3.

When a business ‘creates or adds value’ it increases:

a)

the difference between the cost of purchasing raw materials and the price the finished

goods are sold for

b)

the number of products it sells

c)

 the difference between the cost of producing a product and the price for which it is sold

d)

the difference between the price of a product and the variable cost of its production

4.

When an entrepreneur decides to spend $1,000 on a new computer to store details of inventories, the opportunity cost is:

a)

$1,000

b)

everything else that could have been purchased with $1,000

c)

time

d)

quality

5.

The most important difference between social enterprises and profit-seeking businesses is:

a)

social enterprises never aim to make a profit

b)

social enterprises will have objectives other than profit

c)

profit-seeking businesses will always make a profit

d)

social enterprises do not sell goods and services but profit seeking businesses do

6.

Which type of legal structure is used when two or more people join together to start a business and have unlimited liability?

a)

Sole trader

b)

Partnership

c)

LTD

d)

PLC

7.

Which of the following best describes the term limited liability? If the business fails:

a)

Personal possessions of the owner can be taken to pay any debts

b)

The owner is personally liable for all the debts of the business

c)

There is no limit on the amount the owner has to pay to settle debts

d)

The owner only loses the amount invested in the business

8.

What are the owners of private and public limited companies called?

a)

Stakeholders

b)

Managers

c)

Board of directors

d)

Shareholders

9.

Which of the following is a drawback for an entrepreneur setting up a business as a sole trader?

a)

Profit is shared

b)

Financial accounts are kept private

c)

Limited liability

d)

Unlimited liability

10.

Which of the following is an advantage of operating a large established business as a public limited company?

a)

Shares can be sold to the public to raise additional finance

b)

Financial accounts are published

c)

Shares can only be sold to invited investors to raise finance

d)

Owners have unlimited liability

11.

A private limited company may change into a public limited company because it wants:

a)

Limited liability

b)

To raise additional finance

c)

Unlimited liability

d)

To avoid takeover

12.

Which of the following statements is always true of a public limited company?

a)

Shareholders have day to day control of the company

b)

Liability is limited

c)

The ability to expand is limited

d)

Board of directors own the business

13.

Which legal structure would an individual wishing to start-up a small business choose because it is quick, easy and inexpensive to set up?

a)

Sole trader

b)

Partnership

c)

LTD

d)

PLC

14.

Which of the following is a disadvantage of setting up a business as a partnership?

a)

Shared losses

b)

Shared workload

c)

Shared profit

d)

More ideas generated

15.

A business run by 2-20 people and has unlimited liability is known as a:

a)

Company

b)

Sole trader

c)

Partnership

16.

The two forms of business ownership with unlimited liability are:

a)

Sole trader

b)

Public company

c)

Partnership

d)

Private company

17.

Advantages of a sole trader are:

a)

Limited liability

b)

The owner makes all the decisions

c)

The owner takes all the profit

d)

Can raise substantial capital

18.

Advantages of a partnership are:

a)

The partners split the profit

b)

Unlimited liability

c)

Raise more capital than a sole trader

d)

Share the workload

19.

Private Limited Companies are owned by

a)

Sole Traders

b)

Partners

c)

Shareholders

d)

The Government

20.

Which of the following is a Private Limited Companies?

a)

Colin McClean Building Contractors LTD

b)

Jerez Hospital

c)

Caucus Goat PLC

d)

Borat and Sons

21.

Which of the following is not accepted as ways to measure business size?

a)

Number of employees

b)

Revenue

c)

Capital employed

d)

Profit

22.

An expansion of a business by means of opening new branches, shops or factories (also known as organic growth).

a)

internal growth

b)

external growth

c)

advertising

d)

enterprise

23.

Which of the following is a correct example of external growth?

a)

merger

b)

sole trader

c)

opening new branches

d)

loan

24.

Which of the following is an importance of small & micro-business?

a)

not many jobs are created by small firms.

b)

small businesses are often run by dynamic entrepreneurs, with new ideas for consumer goods and services.

c)

small firms cannot create competition for larger businesses.

d)

small firms often cannot supply specialist goods and services to important industries in a country.

25.

Which of the following is a correct example of external growth?

a)

merger

b)

sole trader

c)

opening new branches

d)

loan

26.

The sales of the business as a proportion of total market sales.

a)

market share

b)

customers

c)

revenue

d)

profit

27.

An advantage of small business.

a)

can afford to employ specialist professional managers

b)

have access to several different sources of finance

c)

are more likely to be able to afford research and development into new products and processes

d)

offer personal service to customers

28.

Disadvantage of large business.

a)

may often suffer from a divorce between ownership and control that can lead to conflicting objectives

b)

few opportunities for economies of scale

c)

may have limited access to sources of finance

d)

may not be diversified, so there are greater risks of negative impact of external change

29.

One of the benefits that is often claimed to result from integration between two businesses is:

a)

redundancies

b)

synergy

c)

bureaucracy

d)

diseconomies

30.

The most likely reason why some mergers and takeovers fail to result in the expected benefits is:

a)

economies of scale

b)

internal growth is slow

c)

culture clash

d)

higher coordination

31.

One of the claimed benefits to a food retailer of using a joint venture with a local business when entering a foreign market is:

a)

the food retailer will keep all of the profits of the venture

b)

there will be no disputes over future strategies

c)

there will be no costs to the food retailer

d)

knowledge of local culture will help in product selection

32.

Which one of these examples of external growth is a form of backward vertical integration?

a)

An airline takes over an insurance company.

b)

A bank mergers with another bank.

c)

A mining company takes over a manufacturer of earth moving equipment.

d)

A clothing manufacturer merges with a clothing retail business.

33.

Which one of these examples of external growth is a form of forward vertical integration?

a)

An airline takes over an Theme Park.

b)

A bank mergers with another bank.

c)

A mining company takes over a manufacturer of earth moving equipment.

d)

A clothing manufacturer merges with a clothing retail business.

34.

Which one of these examples of external growth is a form of conglomerate integration?

a)

An airline takes over an Theme park.

b)

A bank mergers with another bank.

c)

A mining company takes over a manufacturer of earth moving equipment.

d)

A clothing manufacturer merges with a clothing retail business.

35.

Which one of these examples of external growth is a form of horizontal integration?

a)

An airline takes over an insurance company.

b)

A bank mergers with another bank.

c)

A mining company takes over a manufacturer of earth moving equipment.

d)

A clothing manufacturer merges with a clothing retail business.

36.

Which of the following is not a business objective?

a)

Corporate social responsibility

b)

Market share

c)

Growth

d)

Employment

37.
What is a business objective?
a)
A statement of what the company has achieved.
b)
A statement of what the company is trying to achieve.
c)
A statement of what the company is currently achieving.
38.

M in SMART stands for:

a)

Modest

b)

Meaningful

c)

Money

d)

Measurable

39.

A business with social objectives that reinvests most of its profits back into the business or into benefiting society at large.

a)

Social network

b)

Social enterprise

c)

Corporation

d)

Multinational company

40.
Most businesses are likely to put survival as their main objective when
a)
the competition is  becoming weaker
b)
the economy is becoming weaker
c)
the government plans to increase grants to firms
d)
consumers are increasing their demand for products
41.

What's the definition of CSR?

a)

its an activity engaged in a commercial or industrial business

b)

Its a business responsibility towards society

c)

its a process of keeping financial information

d)

its a state of a healthy and positive manner

42.
Which statement best defines the concept of “ethics”?
a)

Ethics is the ability to tell the difference in behavior.

b)
Ethics is trying to judge people by what they believe and do.
c)
Ethics is a society’s standards of conduct based on moral values and principles of its members.
d)
Characteristics that bring people praise and admiration.
43.

What is profit maximisation?

a)

Getting as much profit as possible

b)

maintaining a level of profit appropriate for the business

c)

focussing on the business staying in business

d)

focussing on the business expanding

44.

What is profit satisficing?

a)

Getting as much profit as possible

b)

maintaining a level of profit appropriate for the business

c)

focussing on the business staying in business

d)

focussing on the business expanding

45.

Which term means actively looking for qualified employees?

a)

background check

b)

recruitment

c)

human resources management

d)

meeting staffing needs

46.

How is a worker on commission paid?

a)

According to how much time is worked

b)

According to the level of output

c)

According to how many items are sold

47.

John is paid piece rates. What does this mean?

a)

He is paid according to how much time is worked

b)

He is paid according to how much output is made

c)

He is paid according to how many items are sold

48.

Which of the following is an example of a fringe benefit?

a)

a salary

b)

commission

c)

a company car

49.

HRM can be most comprehensively define as a series of activities focused on

a)

working towards strong communication with staff

b)

obtaining, training and maintaining an effective workforce

c)

strong leadership

d)

strategic planning

50.

Taylor's views on worker motivation suggested that:

a)

workers will work harder when they have clean and hygiene conditions

b)

workers will work harder when they have a job contract

c)

workers will work harder when they are recognised

d)

workers will work harder when they are paid more

51.

Which one of the following is in correct order?

a)

Physiological needs, social needs, esteem needs, safety needs and self-actualisation

b)

social needs, safety needs, physiological needs, esteem needs, self-actualisation

c)

physiological needs, safety needs, social needs, esteem needs, self-actualisation

d)

self-actualisation, esteem needs, social needs, safety needs, physiological needs

52.

Jasmy feels like his hard work is never recognized. Which level of needs (Maslow) is not being satisfied?

a)

Self-Esteem

b)

Social

c)

Self-actualization

d)

Physiological

53.
Which of the following is a motivator according to Herzberg?
a)
Working condition: Safe working environment
b)
Responsibility
c)
Good wage or salary
d)
Good relationship with co-workers and boss
54.

The theory which asserts that motivation depends upon the strength of a tendency to act in a certain way, which in turn depends on the strength of an expectation that the act will be followed by a given outcome and on the attractiveness of that outcome to the individual, is called:

a)

Expectancy Theory

b)

Equity Theory

c)

Behavior Modification Theory

d)

Goal Theory

55.
He developed a set of ten managerial roles and behaviors within a business environment.
a)
Henry Gnatt 
b)
 Fredrick Taylor 
c)
Henry Mintzberg
d)
 Frank Gilbreth
56.
Which of the following is not considered one of the Informational roles as described by Mintzberg?
a)
Disseminator 
b)
Spokesperson 
c)
Speaker 
d)
Monitor 
57.

Which type of leadership style involves the manager making all the decisions?

a)

Laissez-faire

b)

Autocratic

c)

Democratic

d)

Paternalistic

58.

Which type of leadership style involves managers and employees working together in unison to make decisions?

a)

Democratic

b)

Laissez-faire

c)

Autocratic

d)

Paternalistic

59.

What is an advantage of laissez-faire style of leadership?

a)

It leaves room for decision making to more innovative

b)

Roles of responsibility are clearer

c)

It makes employees feel more supported

60.

Isaac feels like his hard work is never recognised. Which level of needs (Maslow) is not being satisfied?

a)

Self-Esteem

b)

Social

c)

Self-Actualisation

d)

Physiological

61.
Which of the following is a definition of self-actualisation need?
a)
National minimum wage 
b)
Sense of belonging
c)
Achieving one's innermost desire
d)
Feeling secured
62.

Parker is worried about losing his job. Which level of needs (Maslow) is not being satisfied?

a)

Self-Esteem

b)

Social

c)

Safety

d)

Self-Actualisation

63.
Yu reports to Shivangi, but he is always finding ways to ingratiate himself to remain on good terms with her. According to McClelland, Yu has a high need for: 
a)
achievement
b)
power
c)
affiliation
d)
charisma
64.

According to Abraham Maslow, human needs can be divided into how many types?

a)

Three types

b)

Four types

c)

Five types

d)

Six types

65.
What is not a benefit of motivated staff?
a)
More output
b)
Better environment
c)
Lower Absenteeism
d)
Higher Staff Turnover
66.

A highly motivated workforce will not lead to higher levels of

a)

productivity

b)

quality

c)

labour turnover

d)

customer service

67.

Who advocated the theory of expectancy?

a)

Victor Vroom

b)

Frederick Herzberg

c)

David McClelland

d)

Abraham Maslow

68.

McClelland's theory is based on which of the following needs?

a)

A) stability, growth, and security

b)

B) achievement, power, and affiliation

c)

C) self-actualization, stability, and safety

d)

D) hygiene, control, and security

69.
Which of the following is one reason for a business using induction training for new workers?
a)
to see who is staying and who is leaving the business
b)
to check the standard of work of all workers
c)
to help select the workers that to be employed by the firm
d)
to explain the firm’s procedures and methods of working
70.
One of the most likely disadvantages of training workers is that:
a)
workers will become too efficient at their work
b)
the level of supervision of workers will have to increase
c)
workers will become less prepared to accept new machines
d)
more highly trained workers might get jobs with other firms
71.
Equality means...
a)
Everyone has equal opportunities and chances
b)
People all get the same pay. 
c)
Every one has the right to party
d)
Disabled peoples rights. 
72.
Discrimination means...
a)
Treating a person or group differently from others.
b)
Not playing by the rules.
c)
Letting someone Cheat on a test. 
d)
Acting nastily towards someone because they hurt you. 
73.

Which one of these areas should you NOT ask about during interview?

a)

Work Experience

b)

Qualifications

c)

Religious Orientation

d)

Perceived Skills and Abilities

74.

what is meant by work life balance

a)

working all the time to balance your life

b)

working as efficiently as possible to allow more free time

c)

working and playing equally

d)

ensuring the employee has enough time to enjoy both work and family

75.

Rita is the regional manager for a clothing retailer. She attends a ribbon cutting ceremony every time a new store opens for business. Which one of Mintzberg's managerial roles is she fulfilling?

a)

Figurehead

b)

Liaison

c)

Leader

d)

Communicator

76.

Who advocated the theory of expectancy?

a)

Victor Vroom

b)

Frederick Herzberg

c)

David McClelland

d)

Abraham Maslow

77.

Who advocated the "Two factor Theory"

a)

Victor Vroom

b)

Frederick Herzberg

c)

Abraham Maslow

d)

David McClelland

78.

Choose the correct sequence of Hierarchy of Needs

1 : esteem

2: safety needs

3: self-actualization

4: love and belonging

5: physiological needs

a)

5, 4, 3, 1, 2

b)

5, 2, 4, 3, 1

c)

5, 2, 4, 1, 3

d)

5, 4, 2, 1, 3

79.
Which of the following best describes market segmentation?
a)
Dividing a large market into a smaller sub-market
b)
Selling goods for less than their production cost to maximise sales
c)
Maintaining long-term ties with customers to encourage repeat sales
d)
Identifying the consumer groups most likely to buy a business's products
80.
Which of the following best describes a target market?
a)
Close competitors of a business
b)
The people who buy a business's products
c)
Groups that do not buy a business's products
d)
The individuals at whom a business's marketing strategies are aimed
81.

Define Promotion.

a)

Any from of communication a business or organisation uses to inform, persuade, or remind.

b)

The number of different product lines a manufactures or sells

c)

The process of creating, growing, and manufacturing

82.
Setting and communicating the value of products and services. Setting the cost at the right level.
a)
Price
b)
Place
c)
Promotion
d)
Product
83.

THE 4 P's - product, place, promotion, price

a)

Branding

b)

Promotional mix

c)

Target marketing

d)

Marketing mix

84.
Harley Davidson Motor Cycles stresses the quality of their machines and the image Harley’s create in the minds of their target market. This demonstrates a marketing focus on
a)
Product
b)
Place
c)
Price
d)
Promotion
85.
What is the purpose of product differentiation?
a)
To simplify pricing
b)
To target mass markets
c)
To minimise prodution
d)
To target individual market segments
86.
Packaging is an example of which of the following marketing strategies?
a)
Price
b)
Product
c)
Place
d)
Promotion
87.
Which of the following statements most completely defines the term 'marketing'?
a)
Marketing is the distribution of goods and services from the wholesaler to the retailer so that they are available when the customer wants them.
b)
Marketing is a total system of interacting activities designed to plan, price, promote and distribute goods and services to present and potential customers.
c)
Marketing includes all those activities involved in the production and promotion of goods and services to the end customer.
d)
Marketing is any set of activities undertaken to produce and promote a range of goods and services to satisfy customers' needs.
88.

USP stands for:

a)

Unique Sale Position

b)

Unique Sale Proposition

c)

Unique Selling Point

d)

Untitled Sales Promotion

89.

The process of dividing a market of potential customers into groups based on different characteristics is called

a)

Market Segmentation

b)

Market Analysis

c)

Demographics

d)

Consumer identification

90.

The term "Demographics" refers to

a)

Grouping potential customers based on their beliefs and preferences

b)

Grouping potential customers based on whether or not they have purchased a product in the past

c)

Grouping potential customers using statistical data such as age, race and gender

d)

Grouping potential customers based on where they live

91.

Which of these is NOT a Demographic characteristic, or a statistical way of grouping people?

a)

Age

b)

Household Income

c)

Race

d)

Political preference

92.

Segmenting a market based on customers' attitudes, opinions, and interests is called

a)

Demographics

b)

Psychographics

c)

Geographics

d)

Market Segmentation

93.

When a business divides its market on the basis of where its customers live is called

a)

geographic segmentation

b)

demographic segmentation

c)

psychographic segmentation

d)

behavioral segmentation

94.

Segmenting a market based on customers' buying habits is an example of

a)

demographic segmentation

b)

psychographic segmentation

c)

behavioral segmentation

d)

geographic segmentation

95.

The correct order of the business life cycle is

a)

Introduction, maturity, decline, growth

b)

Introduction, maturity, , decline, growth

c)

Introduction, maturity, growth, post-maturity

d)

Introduction, growth, maturity, decline

96.

A clothing store puts all its products at 50% discount, due to the change of season. This is an example of:

a)

Survival pricing

b)

Price discrimination

c)

Block pricing

d)

Sales Promotion

97.

Which pricing strategy involves setting prices based on the costs for producing, distributing and selling the product plus a fair rate of return for its effort and risk?

a)

Customer Value-Based Pricing

b)

Competition-Based Pricing

c)

Cost-Based Pricing

d)

Dynamic Pricing

98.

Which pricing strategy involves setting prices based on competitors’ strategies, costs, prices and market offerings?

a)

Customer Value-Based Pricing

b)

Competition-Based Pricing

c)

Cost-Based Pricing

d)

Dynamic Pricing

99.

Term for a item that is intentionally priced below cost to draw people into the store

a)

Loser Item

b)

Sale

c)

Discount Item

d)

Loss Leader

100.

Suggestive selling and group sales is a type of

a)

personal selling

b)

market campaign

c)

brand

d)

target market

101.

Promotional message about a product paid for by an identified sponsor

a)

product

b)

market segmentation

c)

suggestive selling

d)

advertising

102.

Successful organisations learn the preferences and behaviors of key customer segments through this process

a)

market research

b)

market segmentations

c)

choosing only one target market

d)

setting a price everyone can afford

103.

________ buy from wholesalers and sell to consumers.

a)

retailers

b)

wholesalers

c)

distributors

d)

consumers

104.
The following are all likely to improve productivity except which one?
a)
Increased automation
b)
Increased training
c)
Improved staff motivation
d)
Increased staff meetings
105.
What does Just-In-Time production help with?
a)
Creating waste
b)
Taking away jobs
c)
Increasing efficiency
d)
Making products heavier
106.

Operations management refers to

a)

The effective management of the process of transforming inputs into outputs and maximising the efficiency and effectiveness of the production process to meet business objectives.

b)

The effective management of the process of transforming new staff into experts and maximising the efficiency and effectiveness of the production process to meet business objectives.

c)

The effective management of the process of transforming a service and maximising the efficiency and effectiveness of the production process to meet business objectives.

d)

The effective management of the process of transforming the butterfly to the penguin maximising the efficiency and effectiveness of the production process to meet business objectives.

107.

An operations manager is not likely to be involved in

a)

the design of goods and services to satisfy customers' wants and needs

b)

the quality of goods and services to satisfy customers' wants and needs

c)

the identification of customers' wants and needs

d)

work scheduling to meet the due dates promised to customers

e)

maintenance schedules

108.

Production processes involving a high level on labour input compared with capital equipment

a)

Labour intensive

b)

Sustainability

c)

Production process

d)

Capital intensive

109.

The method of of turning inputs into outputs by adding value in a cost-effective way.

a)

Operations management

b)

Labour intensive

c)

Production process

d)

Capital intensive

110.

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

111.

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

112.

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

113.

Which of the following is a benefit to a business of minimising waste in its supply chain?

a)

Lower unit costs

b)

Higher labour turnover

c)

Higher revenue

d)

Purchasing economies of scale can be achieved

114.
If the Output is 10,000 units and the number of employees is 25 what is the Labour productivity per employee.
a)
40
b)
4000
c)
400
d)
40000
115.
Which of these is a common measure of labour productivity?
a)
Output scrap rate
b)
Profit margin
c)
Quality assurance level
d)
Output per worker per day
116.
An inventory lead time is
a)
The maximum level of inventory a Business can or wants to hold
b)
The average delay in handling customer orders
c)
the amount of time between placing an order with a supplier and receiving the stock
d)
the time taken to process outstanding sales orders
117.

What is buffer stock?

a)

Stock which is sent just in time.

b)

Stock which gets placed onto the shop floor before it expires.

c)

Stock which does not get sold.

d)

Extra stock which is kept incase of demand.

118.

The business can only hold so much stock, after this point it becomes uneconomical to hold more stock ….

a)

Maximum stock level

b)

Minimum stock level

c)

Re-order level

d)

Lead time

119.

TWO advantages of Just In Time are

a)

No need for costly storage space

b)

Wages are lower

c)

Less risk of stock being damaged or unusable

d)

Cheaper

120.

TWO disadvantages of Just In Time are

a)

You are dependant on your supplier to deliver on time

b)

More frequent ordering may add to delivery costs

c)

Easier

d)

It is quicker and better

121.
Method of production that requires a highly skilled labour?
a)
Job
b)
Batch
c)
Flow
d)
Mix
122.
Making lots of products continuously is called?
a)
Job
b)
Batch
c)
Flow
d)
Mix
123.
Which would be used for this product?
a)
Job
b)
Batch 
c)
Flow 
d)
Mixed
124.
Which would be used for this product?
a)
Job
b)
Batch 
c)
Flow 
d)
Mixed
125.

What is the maximum stock level?

a)

8

b)

8000

c)

4000

d)

8 months

126.

At what number of weeks is the second order placed and how much is that order for?

a)

2 weeks, 2000 units

b)

3 weeks, 6500 units

c)

3 weeks, 6000 units

d)

4 weeks, 4000 units

127.

What is the amount of buffer stock kept by this business?

a)

8000 units

b)

1500 units

c)

4500 units

d)

6000 units

128.

Outsourcing

a)

Using a third party to carry out a business function

b)

Moving part of the business abroad

c)

Becoming a MNC

d)

Changing supplier

129.

a benefit of outsourcing

a)

The business can focus on its core goals and competencies

b)

The business will save money in the long term

c)

The business keeps control of everything

d)

The business will need more training

130.

Fill in the blank. As capacity utilisation increases towards 100%, unit costs should ____________.

a)

Increase

b)

Decrease

c)

Stay the same

d)

None of the answers

131.

If a firm's maximum possible output is 10,800 chairs and its current output is 9,600 chairs, what is its capacity?

a)

10,800 chairs

b)

9,600 chairs

c)

88.9%

d)

90%

e)

11.1%

132.

If a firm's maximum possible output is 10,800 chairs and its current output is 9,600 chairs, what is its capacity utilisation?

a)

10,800 chairs

b)

9,600 chairs

c)

88.9%

d)

90%

e)

11.1%

133.

Select all of the actions a firm might do to combat low capacity utilisation:

a)

Improve marketing

b)

Downsize

c)

Create a waiting list

d)

Temporarily pushing prices up

e)

Outsource to other producers

134.

Select all the problems of too high capacity utilisation:

a)

Business unable to accept new orders

b)

Customers go to alternative providers

c)

Employees and workers might burn out

d)

There are no problems with high capacity utilisation

135.

Select all of the possible challenges of using outsourcing as a strategy for high capacity utilisation:

a)

Takes time to negotiate

b)

Possibly more expensive than in-house

c)

Less control over quality

d)

None of the answers

136.
What is start up capital?
a)
Finance needed before starting trading.
b)
Finance paid after trading.
c)
Finance paid to banks.
137.
An example of working capital is...
a)
pay electricity bills.
b)
pay machinery.
c)
pay rent cost.
d)
pay insurance.
138.
What is NOT a source of Internal finance?
a)
Retained profit
b)
Sale of existing assets
c)
Issue of shares
d)
All are sources of Internal finance
139.

Which of the following is a type of short-term external source of funds?

a)

leasing

b)

overdraft

c)

mortgages

d)

debentures

140.

Debt Factoring is:

a)

Selling invoices to a factoring company.

b)

Factoring the amount of debt you have into your business plan.

c)

Writing off the debt that a business owe you.

d)

Making plans for the future of the business.

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