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Unit 4 - Leaving Certificate Business Flashcards | StudBud
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Unit 4 - Leaving Certificate Business
Unit 4 - Leaving Certificate Business
50 terms
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Human Resource Management Changing Role of a Manager Accounting Insurance and Tax
Flashcards
50 cards
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Practice quiz
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Questions
50
Answers
1
VAT is an example of a progressive tax?
False
True
2
Job rotation is an example of off the job training
True
False
3
Tax credits are taken away from income tax
False
True
4
CAM stands for Computer Assisted Manufacturing
False
True
5
What do the letters HRM stand for?
Human Resource Management
Human Resource Model
Human Relations Model
Human Relations Management
6
What is the purpose of insurance?
To share the risk
Financial Protection from risks
To make a profit
Minimise impact on future cash flow
7
What are commercial rates based on?
Type of business
Valuation of the business
Industry being operated within
Location of the business
8
Equity capital requires giving up some ownership of the company?
True
False
9
Tax on profit earned from the sale of assets is called
Inheritance Tax
PRSI
Capital Gains Tax
Capita; Acquisitions Tax
10
Your proposal form is the summary of your insurance policy
False
True
11
The current rate of DIRT is 30%
True
False
12
Which of the followers protects he employer against a claim made by an employee?
Product Liability Insurance
Employers Liability Insurance
Public Liability Insurance
Fidelity Guarantee Insurance
13
In relation to manpower planning what happens when demand < supply?
Extra employees are taken on
Suitable employees are recruited
Employees undergo upskilling training
Employees are made redundant
14
An endowment policy only pays out when a person dies
True
False
15
What do the letter TQM stand for?
Total Quality Monitoring
Total Quantity Monitoring
Total Quality Management
Total Quantity Management
16
Which of the following describes a job description?
Document that describes the responsibilities of the job and duties
Document that describes the qualifications, skills, experience required
Document outlining the duties and responsibilities of the job
Document where prior experience and training needs to be filled in
17
What is capital employed?
Money left over after expenses have been taken into account
Total money invested in the company
Money left over before expenses are taken into account
Day to day capital used in the business
18
Which of the following is
NOT
a benefit of external recruitment?
Less jealousy/resentment from existing staff
Cheaper and quicker
Increases the chances of finding an excellent candidate
Brings a fresh perspective and new ideas
19
Sarah buys a car for €25,000. 3 years later the car is stolen and she is paid €14,000 by the insurer
Indemnity
Subrogation
Insurable Interest
Contribution
20
What do the letters DIRT stand for?
Deposit Interest Retention Tax
Deposit Insurance Rotation Tax
Deposit Interest Resurgence Tax
Deposit Insurance Retention Tax
21
Which of the following gives a better picture of the firms profitability
Return on Investment
Gross Profit Percentage
Net Profit Percentage
22
What is the current rate of corporation tax in Ireland?
12%
13%
12.5%
13.5%
23
Tax evasion is taking advantage of rules to reduce your tax bill
False
True
24
Low Gearing is when
Debt < Equity
Debt = Equity
Debt > Equity
25
QA stands for Quality Assistance
True
False
26
Who pays self assessment income tax?
Businesses
Any employed individual
Part time employees
Self employed people
27
What is the ideal ratio for the Acid Test Ratio?
1:2
1:1
1.5:1
2:1
28
If you lie on your proposal form the insurance company can refuse to insure you
True
False
29
Another name for the working capital ratio is the current ratio?
True
False
30
What is the purpose of the a cover letter?
To give detailed personal information about the candidate
Introduces candidate and gives brief summary of their work experience
31
What is a grievance proceedure?
Used when an employee passes away suddenly
Used for unfair dismissal
Used to establish trust between employee and employers
Used for dealing with conflict situations
32
USC is a form of direct taxation
False
True
33
Which of the following is an example of a current asset
Motor Vehicles
Bank Overdraft
Debtors
Buildings
34
Who is responsible for tax collection in Ireland?
Revenue Commissioners
The Government
Pascal Donoghue
The Minister for Finance
35
Which of the following are the correct order of the four stages of teamwork?
Forming, Storming, Norming, Performing
Forming, Performing, Norming, Storming
Forming, Norming, Performing, Storming
Forming, Norming, Storming, Performing
36
Demotion is a form of internal recruitment
False
True
37
Employee participation is...
Employees have the power and authority to make decisions
Employees have more of a say in how the business is run
38
What is the name of the person who decides on your premium?
Assessor
Broker
Actuary
39
John’s car is stolen and he receives full compensation for it from the insurer. The car is found but belongs to insurer
Upmost Good Faith
Contribution
Indemnity
Subrogation
40
Which of the following best describes job enlargement?
Extra duties to avoid boredom
Bonus for work well done
Greater responsibility to develop skills
Improvement to working conditions
41
Which of the following is NOT a main principle of TQM?
Focus on the customer
Teamwork
Employee Empowerment
Quality Assurance
42
To calculate
Net Profit
it is:
Sales - Cost of Sales
False
True
43
Which of the following is NOT a strategy for managing change
Lead by example
Intrapreneurship
Train employees
Teamwork
44
ROI stands for Return on Interest
False
True
45
What do the letters CAD stand for?
Computer Aided Design
Computer Aimed Designation
Computer Aided Designation
Computer Aimed Design
46
When a business is overstaffed it leads to unhappy customers and bad products/services
True
False
47
What do the letters CIM stand for?
Computer Integrated Multiples
Computer Integrated Manufacturing
Computer Incorporated Magnification
Computer Invigorated Manufacturing
48
Another word for HRM is
Talent Acquisition
True
False
49
Which of the following describes a facilitator style of leadership?
Is critical of employees and points out mistakes
Threatens and punishes employees
Helps employees who make mistakes
Makes all the decisions
50
Which of the following in NOT a benefit of good employee/employer relationships?
Labour turnover increases
Less chance of strikes
Intrapreneurship may occur
Employees are more motivated and productive
