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Business Studies Prelim Revision Quiz Flashcards | StudBud
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Business Studies Prelim Revision Quiz
Business Studies Prelim Revision Quiz
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Questions
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Answers
1
Which m'gment approach stresses that people should be the min focus of the organisation?
Behavioural
Classical
Contingency
Systems
2
Which body administers the process of incorporation for businesses?
Australian Stock Exchange
Australian Competition and Consumer Commission
Australian Securities & Investments Commission (ASIC)
Choice Ltd
3
'Profit and Loss' statement is another name given to the....
S'ment of financial position
S'ment of internal performance
S'ment of financial performance
S'ment of account balance
4
What is
not
a function of Australian businesses?
Providing employment
Providing cultural values
Providing innovation
Providing income
5
Voluntary cessation of a business is when......
Creditors force the closure of the business
A representative collects money owed to the business
The owner ceases to operate the business of their own accord
A business is unable to pay its debts
6
What is one advantage of buying an existing business?
Cultural values
Raw materials
Environmental resources
Cash flow from existing customer base
7
Maintenance
is which stage of the human resource cycle?
First
Fourth
Second
Third
8
'The provision of employment' is what type of goal?
Environmental
Financial
Social
Sustainable Biz Practice
9
A business which performs a service for others is classified as....
Tertiary
Secondary
Primary
Elementary
10
Under the behavioural management approach, which is
not
one of the main management functions?
Communicating
Controlling
Leading
Motivating
11
When the business owner is responsible for all the debts of the business, this is called....
Duty of care
Unlimited liability
Limited liability
Professional liability
12
What is the formula for calculating
net profit
?
Gross profit - expenses
Sales - COGS
Revenue + Opening stock
Sales - expenses
13
Examples of main business resources are?
Primary resources
Environmental Resources
Educational resources
Physical resources
14
The acquisition stage of the HR cycle involves which of the following elements?
Motivating employees
Employees leaving the business
Improving employees' skills an abilities
Hiring new employees
15
In business terms, 'inertia' refers to....
unenthusiastic response to change
employees who will be made redundant
lack of sales
failure to comply with company policy
16
Which of the following is a form of promotion?
Personal selling
Exclusive features
Product branding
Labelling
17
Which is
not
a financial goal of business?
Maximising growth
Increasing market share
Improving share price
Increasing customers
18
What is
not
an element of business culture?
Symbols
Values
Faith
Rituals
19
What is
not
a benefit of outsourcing?
Reducing time-consuming manual labour
Increasing efficiency
Providing better employment opportunities
Keeping costs down
20
A business that employs 40 people would be considered....
Large
Regular
Small
Medium
