Worksheets2024 BM VCE: Internal Business Environment and Planning
Total questions: 20
Worksheet time: 11mins
The internal business environment is best described as...
the factors over which the business has total control; it is sometimes called the micro environment.
the factors over which the business has little control. It may be further divided into two categories: operating and macro.
the factors over which the business has some degree of control; it is sometimes called the micro environment.
the broad conditions and trends in the economy and society within which a business operates.
The external environment can be best defined as...
the factors over which the business has little control. It may be further divided into two categories: operating and micro
the factors over which the business has little control. It may be further divided into two categories: operating and macro.
the factors over which the business has some control over; such as employees and managers.
the factors over which the business has total control over such as legal structure and location.
Societal attitudes and behaviours are considered apart of which business environment?
Macro environment
Operating environment
Micro environment
A sole trader business is owned and operated by (a) person(s)
A partnership is an unincorporated business structure with a minimum of two and a maximum of (a) owners
Which of the following are benefits to a sole trader business structure?
Limited liability
Low-start up costs
Easier to attract public finance
Less government regulations
The business model "bricks and mortar" is best described as...
a business that creates homes.
a business that directly delivers products to their customers.
a business that imports and exports goods and services.
a business with a physical location such as a store in a shopping centre.
Exports are best described as...
goods and services that are produced overseas and brought into Australia.
goods and services that are produced in Australia and sold overseas.
The benefits of purchasing a pre-existing business include:
sales to existing customers generate instant income.
no goodwill which the owner has to pay back.
the owner can determine the pace of growth and change.
the seller can offer advice and training.
Business resource needs fall into these three categories:
Natural, labour and finance
Natural, labour and capital
Natural, capital and finance
Labour, capital and finance
Subcontractors can be best described as...
a person that is not directly employed by the business but has been contracted to perform certain tasks.
a person that is hired from overseas to complete tasks for the business.
a person that is directly employed by the business and has to perform certain tasks.
a person within the business that writes contracts for deals with other businesses.
Which of these would NOT be a suitable location for a fast-food restaurant?
Retail shopping strip
Shopping centre
The home of the business owner
On an interstate highway
Business zoning refers to:
the proximity of a business to suppliers
the proximity of a business to competitors
which suburb the business is located in
a means by which local councils allocate land for different uses
Which of the following business would NOT be suited to a shopping centre location?
A cafe
A clothing retailer
A manufacturing business
A fast-food restaurant
Which of the following would be an example of financing from internal sources?
An owner contributing $30,000 of savings to help start up a business
An owner organising a bank overdraft facility for the business
The owner arranging for the supplier of the business to provide trade credit
All of above
Which of the following would be considered an advantage of debt as a source of finance?
It allows the owner to withdraw the money for personal use.
Australia's tax system provides businesses tax deductions for interest payments.
It is safer for the owner as it gurantees personal wealth even if the business incurs losses.
All of the above
Which of the following elements of a SWOT analysis are based on the business's internal environment?
Strengths and Weaknesses
Opportunities and Threats
Profitability
All of the above
In which part of the SWOT analysis are new competitors found?
Strengths
Weaknesses
Opportunities
Threats
Which of the following best describes a business plan?
A written statement of the goals and objectives for the business, and the steps to be taken to achieve them.
A statement showing the profit and loss of a business for a given year.
A written list of strategies that will help the business become more profitable.
Which of the following would NOT be a support service generally provided by an accountant?
Lodging of BAS statements
Seeking advice regarding taxation issues
Advice on registering intellectual property
Lodging income tax returns to the ATO
