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Business Ownership and Image BME 12 General

Total questions: 14

Worksheet time: 13mins

Name
Class
Date
1.

What is the maximum numbers of shareholders a small proprietary company can have?

a)

100

b)

50

c)

Unlimted

d)

20

2.

The ​ ​ (a)   is the ​ (b)   who buy the use of a ​ (c)   .

Choose from the below words
franchisee
person
brand
3.

Organize these options into the right categories

Categorize the following

partners can add money

partners can add skills

shared responsibility

diverse perspectives

easier to raise capital

complimentary skills

flexibility in management

potential for increased productivity

potential for conflicts
shared profits
limited control for individual partners
difficulties in decision making
liability for partner's actions
lack of stability
dissolution of partnership upon partner's exit
potential for unequal workload
Advantages of a partnership
Disadvantages of a partnership
4.

What are the advantages of establishing a business as a sole trader?

a)
Advantages of establishing a business as a sole trader include simplicity, full control, direct profit access, and fewer regulations.
b)
Higher tax rates on profits
c)
Shared decision-making with partners
d)
Limited liability protection
5.

​ (a)   refers to ​ (b)   who are​ (c)   and ​ (d)   to ​ (e)   but do not have paid employment.

Choose from the below words
Unemployment
people
willing
able
work
6.

Unskilled labour means

a)
tasks that involve management and supervision
b)
work that does not require specialized training or skills
c)
work that requires advanced technical skills
d)

employment that demands a tertiary degree

7.

How can high unemployment impact a business?

a)
High unemployment leads to more job openings.
b)
High unemployment increases consumer spending.
c)
High unemployment has no effect on business operations.
d)
High unemployment can reduce consumer spending, lower sales, and create hiring challenges for businesses.
8.

Sponsorships are a business

(a)  

9.

When inflation is high, consumers

a)
tend to reduce spending and seek cheaper alternatives.
b)
invest in high-risk stocks for quick profits.
c)
ignore price changes and continue buying as usual.
d)
increase their spending on luxury items.
10.

What is the impact on businesses when inflations rates are low?

a)
Businesses struggle with unpredictable pricing changes.
b)
Low inflation leads to decreased consumer spending.
c)
Low inflation rates positively impact businesses by providing price stability, enhancing consumer confidence, and allowing for better financial planning.
d)
Businesses face higher costs due to increased wages.
11.

What response is INCORRECT. What are disadvantages of operating as a sole trader?

a)

Unlimited liability

b)

No one to share work load

c)

Incur all profits

d)

Personal assets are at risk

12.

Match the following

Donations are

be installing fluorescent lighting

Not engaging in animal testing

creates a positive business public image

A means of efficient energy use for a business can

increased or decreased sales

Business public image can lead to

is a business arrangement

Corporate sponsorship

a means of raising funds for a business

13.

What economic factors can impact a business?

a)

inflation

b)

interest rates

c)

unemployment

d)

environment

14.

​ (a)   is an ​ (b)   in the level of ​ (c)   of the goods and services that ​ (d)   buy. It is measured as a​ (e)   .

Choose from the below words
Inflation
increase
prices
households
percentage