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RO64 Enterprise and Marketing Concepts LO6 Revision Quiz Flashcards | StudBud
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RO64 Enterprise and Marketing Concepts LO6 Revision Quiz
RO64 Enterprise and Marketing Concepts LO6 Revision Quiz
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Answers
1
How do you calculate the closing balance in a cash flow forecast?
Net cash flow / opening balance
Net cash flow + opening balance
Net cash flow - opening balance
Net cash flow x opening balance
2
Outsourcing means that a business will hire another business to do some of their work for them
False
True
3
Which of the following is not one of the 4P's within the marketing mix?
Place
People
Product
Price
4
Which of the following is not an example of expenditure?
Sales
Rent
Wages
Inventory
5
Which of the following is a disadvantage of continuous flow production?
Only one product at a time can be produced
Fewer workers are needed
If a machine breaks, all of production will shut down
Production costs are very high
6
Which of the following is an advantage of job production
The cost per unit will be very low
More time is taken on each product, which customers will appreciate
Less time is taken on each product
Many products can be made at once
7
Which of the following is not an activity completed by the Human Resources functional area?
Performance management of employees
Recruitment and selection of employees
Monitoring the private life of employees
Traning and development of employees
8
Which of the following is not an example of a functional area?
Competitors
Marketing
Finance
Human resources
9
Sales revenue = Price x Quantity Sold
True
False
10
What is meant by Just - in - Time?
Stock arrives on the production line before it is needed
Stock arrives on the production line just as it is needed
Stock arrives on the production line after it is needed
Stock does not appear on the production line
11
Which of the following is not a production method used by businesses?
Job production
Laissez faire production
Batch production
Cell production
12
What is a functional area?
A group of employees that focus on product function
A physical area with the business where employee training takes place
A phsyical area within the business that focuses on product function
A department that plays a specific role in a business
13
What is a cash flow forecast?
A prediction of cash that goes out of the business
A statement of cash that has gone in and out of the business
A statement of cash that has gone out of the business
A prediction of cash that goes in and out of the business
14
"Small quantities of identical products are made." Which production method is this describing?
Job production
Continuous flow
Cell production
Batch production
15
"How the product is distributed to customers." Which of the 4P's is this describing?
Promotion
Price
Product
Place
16
What is meant by manpower planning?
Plan of how many staff are needed for current activities
Determining the wages and salaries for current staff
Preparing the paperwork for a job vacancy
Plan of how many staff may be needed for future activities
17
Which functional area focuses on the production processes within a business?
Finance
Marketing
Operations
Human resources
18
What is meant by Kaizen?
A demand for constant success
Implementation of best practice
Gradual and continuous improvement
Reflecting on past mistakes
19
Which of the following is not an advantage of Just-in-Time production?
Reduces waste as stock does not go out of date or season
Improves cash flow as stock is only purchases when needed
Less factory space is needed
Difficult to manage surges in demand
20
The Marketing functional area deals with the monetary aspects of the business
True
False
