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WorksheetsUnit 1 AOS 2 Internal business environment and planning
Total questions: 59
Worksheet time: 10mins
Name
Class
Date
1.
a professional who provides advice on all financial management issues and taxation obligations
a)
accountant
b)
franchisor
c)
debt
d)
balance of payments
2.
individuals or businesses that invest in a new business. They are likely to expect a return on their capital, as well as taking a role in supporting the business owner.
a)
assets
b)
angel investors
c)
business
d)
business idea
3.
when a bank allows a business or individual to overdraw their account up to an agreed limit for a specified time to help overcome a temporary cash shortfall
a)
goodwill
b)
business opportunity
c)
bank overdraft
d)
business mentors
4.
starting a business using personal finance or the revenue from the business
a)
corporate social responsibility
b)
boycott
c)
economic growth
d)
bootstrapping
5.
when a customer refuses to purchase goods or services from a business as a form of protest against the undesirable activities of the business
a)
boycotting
b)
goal
c)
imports
d)
economy
6.
the business model that offers customers the choice of online shopping as well as shopping at the physical store
a)
feasibility study
b)
bricks and clicks
c)
innovation
d)
market conditions
7.
the traditional business model that is based on a store with a physical presence, such as those located on shopping strips and in shopping centres
a)
incorporated
b)
industry
c)
bricks and mortar
d)
effectiveness
8.
an organisation that exists separately to its owner in order to produce and sell goods and services
a)
Business Activity Statement (BAS)
b)
bricks and clicks
c)
efficiency
d)
business entity
9.
the surrounding conditions in which the business operates. It can be divided into two broad categories: internal and external.
a)
business environment
b)
entrepreneurship
c)
exports
d)
entrepreneur
10.
the way in which the business will run its operations to generate a profit
a)
zoning
b)
business model
c)
working capital
d)
incorporation
11.
a written statement of the goals and objectives for the business, and the steps to be taken to achieve them
a)
labour resources
b)
procedure
c)
business plan
d)
leasing
12.
the tools and machinery that are used to produce goods or perform services
a)
bricks and mortar
b)
wholesale
c)
business associations
d)
capital resources
13.
businesses that sell products which are aimed at the same customers
a)
complementary businesses
b)
competitors
c)
unlimited liability
d)
business environment
14.
a method of raising finance through appeals for donations via social media and the internet
a)
business entity
b)
crowdfunding
c)
lessee
d)
competitive advantage
15.
the funds provided by banks, other financial institutions, government and suppliers, which must be paid back over time with interest
a)
terms of finance
b)
corporate social responsibility
c)
debt
d)
market research
16.
the ability of a business to keep employees
a)
lessor
b)
market share
c)
mission statement
d)
employee retention
17.
a review of the extent to which a business’s activities have an impact on the environment
a)
environmental audit
b)
environmental lobby groups
c)
limited liability
d)
customers
18.
a tool for managing a business’s environmental impact in a systematic and methodical manner
a)
subcontractor
b)
environmental management system
c)
business model
d)
exchange rate
19.
the funds contributed by the owner(s) of a business to start and build the business
a)
franchise
b)
economic conditions
c)
equity
d)
external environment
20.
goods and services that are produced in Australia to be sold overseas
a)
profit
b)
globalisation
c)
research and development
d)
exports
21.
factors over which the business has little control. It may be further divided into two categories: operating and macro.
a)
external environment
b)
interest rate
c)
Goods and Services Tax (GST)
d)
employee retention
22.
an agreement whereby the franchisor grants the franchisee the rights to use its business name and distribute its goods or services
a)
stakeholder
b)
franchise agreement
c)
franchise agreement
d)
return on investment
23.
when a business sells to others the rights to distribute its goods and use the business name
a)
business plan
b)
manufacturing
c)
franchise
d)
productivity
24.
a business that is licensed to operate under the name of an existing business and distribute its goods or services
a)
shareholders
b)
solicitor
c)
revenue
d)
franchisee
25.
the owner of the original business concept that licenses another business to use its name and distribute its goods or services in exchange for royalty payments and fees
a)
franchisor
b)
vision statement
c)
equity
d)
workplace diversity
26.
the monetary value attached to the reputation of a business
a)
sole trader
b)
goodwill
c)
capital resources
d)
staff morale
27.
goods and services that are produced overseas and sold to Australian consumers
a)
complementary businesses
b)
accountant
c)
imports
d)
prospectus
28.
a business that has a separate legal existence apart from its owner(s)
a)
retail
b)
social enterprise
c)
special interest groups
d)
incorporated
29.
factors over which the business has some degree of control; it is sometimes called the micro environment.
a)
internal environment
b)
offshoring
c)
crowdfunding
d)
internal environment
30.
the people that provide their skills, effort and knowledge to the business
a)
triple bottom line
b)
labour resources
c)
technological issues
d)
unions
31.
a way of financing the purchase of assets without a large initial capital outlay
a)
natural resources
b)
macro environment
c)
leasing
d)
mortgage
32.
the person or business to whom a lease is granted
a)
bank overdraft
b)
loan
c)
silent or sleeping partner
d)
lessee
33.
the owner of an asset that is leased under an agreement to the lessee
a)
lessor
b)
franchisee
c)
suppliers
d)
tax rate
34.
when the shareholders of a company cannot be held personally responsible for the debts of the business
a)
partnership
b)
limited liability
c)
angel investors
d)
shareholders
35.
the broad conditions and trends in the economy and society within which a business operates
a)
planning
b)
bootstrapping
c)
macro environment
d)
supply chain
36.
a business that produces physical goods, often in a factory. These goods are then sold to wholesalers or directly to retailers who then sell the good on to customers at a marked-up price.
a)
operating environment
b)
retail
c)
offshoring
d)
manufacturing
37.
a loan on a property, secured by the property of the borrower (the business)
a)
mortgage
b)
environmental audit
c)
crowdfunding
d)
proprietary (private) company
38.
items the business uses that come from the natural environment. Examples include land, water and raw materials.
a)
resources
b)
natural resources
c)
environmental management system
d)
special interest groups
39.
the specific outside stakeholders with whom the business interacts in conducting its business; it is sometimes called the task environment.
a)
accountant
b)
search engine optimisation (SEO)
c)
operating environment
d)
prospectus
40.
an unincorporated business structure with a minimum of 2 and a maximum of 20 owners
a)
staff morale
b)
workplace diversity
c)
productivity
d)
partnership
41.
a process or series of actions to achieve an objective
a)
planning
b)
return on investment
c)
external environment
d)
exchange rate
42.
an incorporated business with a minimum of 1 shareholder and a maximum of 50 non-employee shareholders
a)
business model
b)
private limited company
c)
research and development
d)
franchise agreement
43.
a legal document that provides details about investment in the company
a)
procedure
b)
goal
c)
prospectus
d)
goodwill
44.
an incorporated business with a minimum of one shareholder (and no maximum), and whose shares are openly traded on the Australian Securities Exchange
a)
business idea
b)
economy
c)
entrepreneur
d)
public listed company
45.
the people and objects that are needed for the business to function properly
a)
resources
b)
business mentors
c)
incorporation
d)
subcontractor
46.
a business that operates by selling goods and services to the customer at a price higher than the cost to produce or purchase the goods in bulk. Examples include Kmart and Target.
a)
product mix
b)
retail
c)
peer group
d)
market coverage
47.
the strategies used to increase the number of visitors to a website by making it more visible on search engines
a)
market dimensions
b)
percentage mark-up
c)
search engine optimisation (SEO)
d)
personal selling
48.
the owners of a company who are entitled to a share of its profits
a)
publics
b)
customer base
c)
survey
d)
shareholders
49.
one who contributes financially to a business but takes no part in the running of the business
a)
silent or sleeping partner
b)
target market
c)
product
d)
place
50.
a business owned and operated by one person
a)
culture
b)
sole trader
c)
diversification
d)
market
51.
a professional who provides advice on legal matters such as business formation, registration, contracts and legislation
a)
psychological factors
b)
public relations
c)
solicitor
d)
public relations
52.
the general level of satisfaction and wellbeing of employees
a)
primary data
b)
media
c)
motives
d)
staff morale
53.
any group or individual who has an interest in, or is affected by, the activities of a business
a)
stakeholders
b)
niche market
c)
place
d)
price
54.
a person that is not directly employed by the business but has been contracted to perform certain tasks
a)
image
b)
subcontractor
c)
marketing mix
d)
marketing plan
55.
the amount of the repayments and frequency at which they must be made
a)
packaging
b)
materialism
c)
terms of finance
d)
secondary data
56.
when the business owner is personally responsible for all the debts of their business
a)
product life cycle
b)
physical evidence
c)
diversification
d)
unlimited liability
57.
a business that sells large volumes of goods to retailers. While wholesalers are increasingly selling direct to the public, they offer heavily discounted prices on bulk purchases such as those made by retailers.
a)
wholesale
b)
distribution channels
c)
retailer
d)
sales analysis
58.
the funds available for the short-term financial commitments of a business
a)
brand name
b)
working capital
c)
e-marketing
d)
logo
59.
a means by which local councils allocate land for different uses, such as residential, commercial, recreational and industrial
a)
customer attitude
b)
crisis public relations
c)
zoning
d)
sociocultural influences
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