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Year 9 Commerce Revision Flashcards | StudBud
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Year 9 Commerce Revision
Year 9 Commerce Revision
30 terms
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Flashcards
30 cards
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Questions
30
Answers
1
What is personal selling?
A telemarketing and promotion technique
One-on-one private selling
The selling of houses and vehicles
The selling of personal belongings
2
Why would you use the target market?
So you know how to sell your product
To sell your produce to only a group of people
To never sell to a group of people
So you know who to sell your product to
3
What is COGS?
Council of Greater Sydney
Community of golf Sydney
Cost of goods sold
cost of gear sold
4
What are the three types of profit?
Gross profit, Operating profit, Net profit
commissions, shares, tips
income, taxes, discounts
revenue, COGS, gross profit
5
Which of the following is generally the least effective sales promotion technique?
Coupons
Brouchers
Facebook Pages
Infomercials
6
Which of these is not a type of insurance?
Incomeprotection
Home insurance
Pet insurance
Garden insurance
7
What is market segmentation?
The economic crash of the market
The subdivision of the market into age and gender groups
The subdividing of markets into common groups
The subdivision of the market into lifestyle & income groups
8
Why is it important to manage your personal finances carefully?
to ensure you pay back all your debts on time
to ensure you only buy and spend on what is necessary
So you only spend according to what you own and can pay off
all of the above
9
Why may loans applications be rejected?
You have a record of unpaid debts
The financial institution doesn’t think you'll pay
You've got heaps of money in the bank
the business doesn’t like you
10
Whatis the reasons for being self employed?
Youwant to be the boss
Freedomof choice
Don't like your boss
All of the above
11
How many small businesses fail within the first 5 years?
65%
80%
50%
75%
12
Which of the following is not a form of advertising?
Documentaries
Billboards
TV comercials
Magazines
13
What does ‘unlimited liability’ mean?
If a company can’t paydebt, they go bankrupt & don’t pay
If a company can’t paydebt, the courts sort out the dispute
If a company can’t pay debts,owners are responsible for debt
If a company can’t paydebt, shareholders lose the investment
14
What are the 4 types of Businesses?
Sole Trader, Public Company, Proprietary Company,Partnership
Sole Trader,PublicCompany, Proprietary Company,Ltd Liability
Ltd Liability, ProprietaryCompany, Partnership, Sole Trader
Ltd Liability,PublicCompany, Proprietary Company,Partnership
15
Which of the following is the highest risk investment?
Blue-Chip shares
Superannuation
all of the above
property
16
What is the maximum number of person allowed to operate in a partnership?
There is no limit
20
25
2
17
What is publicity?
News about the business
Heavy advertising of the business
The process of building fame
Releasing confidential information to the public
18
What does a ‘Balance Sheet’ do?
sums up company’s assets/liabilities/equities.
sums up company’s profits/loss.
sums up cash flow in a company.
sums up a company’s risk management.
19
Personal traits needed for self employment include:
Follows everyone and can’t deal with failure
Good health and being smart
Risk taker and motivated
Work well in a team and want to boss people around
20
What is ‘Gross Profit’ ?
Business Profit/Loss beforetaxes/deductions
Business Profit/Loss after cost of goods
Business Profit/Loss beforecost of goods
Business Profit/Loss aftertaxes/deductions
21
What is net income?
Money you spend each week
Money you have left after only tax is deducted
Money you get each week
Money you have left after all expenses are paid
22
What may happen if you are unable to pay a debt?
your belongings will be repossessed pay your debt
Rocky will come and break your kneecaps
the person who you owe money to may take legal action
the debtor can't do anything about it
23
Who has the best Movember mustache at Knox?
Mr Waterhouse
Mr Stubbs-Mills
Mr Henniker
Santa Claus
24
How does market research help?
To find out what people buy
To find out what they waste their money on
To find out who are our customers
To find out why people go to the store
25
What is the role of an entrepreneur?
To help out the major companies
Act as the spark plug in the economy's engine
To make phat coin and only think about himself
To make more people buy more produces
26
What’s a negative effect of borrowing money?
It’s convenient
You can buy the product straight away
You can feel rich
You must pay interest
27
What is an income statement?
records revenue and expenses
How much money the ownerwant to earn in 5 years
a statement related toincome
records wages
28
Why might people borrow money?
To buy cheap things
Only to buy expensive things
To buy expensive things
To pay off debt
29
What is the Franchisor’s role?
Acts as a ‘boss’ towards franchise stores
Acts as an advisor or counselor for franchises
Oversees the constructionof a new estate
Allow franchisees to make new products
30
What’s the first step in creating a budget?
Calculate your total income
Record your expenses
See how much money you have left over
Get a job
