state the value of one currency in terms of another

A manufacturer is likely to need to obtain planning permission before:

building an extension at the rear of the building

The ‘reporting status’ in a public limited company:

must be published in accordance with the Companies Act

Which of the following is an example of ‘division of work’?

Distributing tasks to different functional areas

The human resources function of a large organisation is most likely to support the finance function by:

recruiting an additional employee

show initiative and complete tasks without guidance

Which of the following is a correct definition of the term ‘benchmarking’?

The comparing of business performance to a standard

A public limited company

must hold an Annual General Meeting (AGM)

studbud

OCR Technical Business Unit 1 - Revision Quiz No2

20 termsStudBud Administration256 plays

Imported from external platform

Flashcards20 cardsFPractice quizPHost liveL

Questions 20

Answers

1
Which of the following functional areas is most likely to be responsible for maintaining the IT equipment in a large org
Operations management
Business support services
Customer services
Research and development
2
Exchange rates:
measure the speed at which prices are increasing
are used to calculate the amount of tax a business must pay
show the number of people looking for work
state the value of one currency in terms of another
3
Which of the following is the main business activity of a primary sector organisation?
Sell goods on the Internet
Extract raw materials
Turn raw materials into finished goods
Provide a service
4
Carain plc makes caravans. Its costs and revenues for 2017 were as follows:
£300
300 caravans
204 caravans
£17 000
5
A manufacturer is likely to need to obtain planning permission before:
creating a business plan to grow the business
sponsoring a local youth football team
building an extension at the rear of the building
setting its sales objectives for the coming year
6
The ‘reporting status’ in a public limited company:
measures whether the company has achieved its objectives
would be shown on its organisation chart
shows how commands travel downwards from the top of the organisation
must be published in accordance with the Companies Act
7
Which of the following is an example of ‘division of work’?
Distributing tasks to different functional areas
Increasing staff workloads
Making less efficient employees redundant
Offering rewards to increase workforce motivation
8
Which of the following is a long-term financial factor that could affect the success of a business?
Breaching the Equality Act
Disagreements between business owners
Obtaining a mortgage
The current year’s fixed costs
9
A new business predicts that it will be able to make and sell the following in the coming year:
make a loss of £6600
make a revenue of £6600
have a margin of safety of £6600
make a profit of £6600
10
The human resources function of a large organisation is most likely to support the finance function by:
updating its supplier database
recruiting an additional employee
purchasing a new accounts package
using social media to encourage more sales
11
Which of the following is an example of an organisation that operates in the public sector?
Charity Shop
Local Council
Clothing manufacturer
Restaurant
12
Which of the following are likely to be variable costs for a coffee shop?
Coffee machine and utensils
Tables and chairs
Rent and rates
Cakes and drinks
13
Which one of the following is an environmentally sustainable business practice?
Using green energy
Buying fair trade products
Paying the living wage to employees
Giving donations to an animal welfare charity
14
All UK businesses are affected by changes in external factors. Example of a change in cultural beliefs?
Social Factor
Legal Factor
Economic Factor
Ethical Factor
15
Which of the following is not an example of a financial objective for a sole trader?
To make a profit
To breakeven
To reduce variable costs
To pursue own interests
16
Empowered employees:
dislike coming to work and frequently arrive late
should not be shown on the organisation chart of a business
show initiative and complete tasks without guidance
are only interested in how much they are paid
17
Which of the following is a correct definition of the term ‘benchmarking’?
The changing of an organisation to a decentralised structure
The comparing of business performance to a standard
The monitoring of market trends over time
The annual review of the objectives of a business
18
Which of the following is a likely impact on UK jewellers if unemployment levels rise in the UK?
The price of jewellery will increase
Employees will demand higher wages
Less jewellery will be sold
Expensive jewellery will become more popular
19
The liability of a partnership is:
dependent on the number of partners
calculated using an income statement
a strength of the business
unlimited
20
A public limited company
must hold an Annual General Meeting (AGM)
Pays Income Tax
Requires a Dead of Partnership
has unlimited liability

OCR Technical Business Unit 1 - Revision Quiz No2 Flashcards | StudBud