WorksheetsFormative assessment day 1 b.com hons semester 1
Total questions: 10
Worksheet time: 15mins
What are three factors which typically constitute the external environment of a business?
Social
Economic
Internal
Political
What is the fundamental accounting equation?
a) Assets = Liabilities + Equity
b) Revenue = Expenses
c) Profit = Revenue - Expenses
d) Assets + Liabilities = Equity
Which of the following is not one of the functions of management?
Planning
Controlling
Co-ordinating
Organising
What is the primary goal of market segmentation?
To identify potential customers
To divide the market into smaller groups
To maximize profits
To reduce competition
What does GDP stand for?
Gross domestic profit
General domestic product
Gross domestic product
Global domestic product
Who gave 14 principles of management? Write 14 principles of management.
What is the primary objective of financial management in a business?
a) Maximizing shareholder wealth
B) Minimizing expenses
c) Maximizing revenue
d) Minimizing taxes
Which of the following is a formal communication channel in a business organization?
Grapevine
Informal meetings
Memo
Lunch discussion
What is a key characteristic of an entrepreneurial mindset?
Risk aversion
Preference for stability
Innovation and creativity
d) Reliance on established norms
Which principle refers to acting with fairness and impartiality in business dealings?
Transperancy
Integrity
Justice
Honesty
