WorksheetsCheck-In Test: Business Activity
Total questions: 20
Worksheet time: 10mins
Which one of the following types of business can sell shares on the stock exchange?
A partnership
A private limited company
A public limited company
A sole trader
Which of the following is an internal stakeholder of business that repairs cars?
Mechanics who work at the garage
Motorists who bring their car to the garage to be repaired
Residents living near to the garage
The government that creates the laws the garage must obey
The reward for enterprise is:
hard work
profit
risk
self-discipline
A clothing manufacturer buys a multiscreen cinema.
A. A diversification
B. A horizontal merger
C. A partnership
D. A vertical takeover
Six firms operate in a market. The pie chart below shows the annual revenue for each of these six firms. What is the market share of Firm D?
1%
10%
41⅔%
150%
Which one of the following is not a reason to start your own business?
To be your own boss
To increase financial risk
To pursue personal interests
To satisfy customer needs
A business makes jeans. Which of the following is the role of its suppliers?
To advertise the jeans on national television
To buy large quantities of jeans
To deliver fabric and fastenings on time
To pay the wages of the sewing machinists
The UK government requires sole traders to:
advertise online
employ staff
operate from home
pay tax on profits
Which of the following would increase the market share of a company?
Employing fewer staff
Making its products more appealing
Reducing output
Spending less money
Two toy shops in Southville have different objectives. Which of the following could be a reason why these two businesses have different objectives?
Central government sets specific objectives for every business
Diversification is not allowed
One business is a new start-up and the other is well established
The law does not allow businesses to have identical objectives
Which one of the following is a benefit of business planning?
It increases business risk
It increases the legal requirements on a business
It reduces the amount of profit a business can make
It reduces the chances of business failure
A business which operates as a partnership:
A has at least two owners
B has no external stakeholders
C is controlled by shareholders
D is owned by the government
Which of the following stakeholder groups is most likely to benefit from a night club owner's decision to close at 11pm instead of at 3am on weekdays?
Customers
Local residents
Suppliers
The government
A business has set an objective to increase profit by 2% each year. If the business made £50 000 profit in 2015, its profit objective for 2016 would be?
£1000
£51 000
£52 000
£60 000
A young entrepreneur wishing to start her first business may choose to operate as a partnership because:
a partnership is the simplest form of business to set up
no planning is required
she can keep all of the profit
the responsibility for important decisions can be shared
The owners of a business with limited liability:
A are not required to obey employment law
B can only sell goods to local markets
C do not have to pay business debts with personal funds
D must not change their business objectives
Which of the following is most likely to describe the characteristics of a successful entrepreneur?
A Determined and creative
B Disorganised and inflexible
C Inflexible and determined
D Risk averse and disorganised
Which one of the following is an example of organic growth?
Gaining new customers
Reducing market share
Merging with a similar business
Increasing selling prices
Which of the following is most likely to help an established company obtain a bank loan?
A business plan
A job description
A person specification
An organisation chart
Which one of the following is not a benefit to a business of setting objectives?
A. Business performance can be measured against targets
B. Can be used to motivate the workforce
C. Clear direction for decision makers
D. Increased manager workload
