Business Unit 3 Revision

Question 1

Which of these methods would improve a firm's cash flow?

Accepted Answer

De-stocking

Question 2

Which of these is not an internal source of finance?

Accepted Answer

Share capital

Question 3

Where in the product life cycle, is a business first likely to have positive cash flow?

Accepted Answer

Growth, Maturity

Question 4

Which of the sections shows a unsuccessful product in a fast growing market?

Accepted Answer

Problem Child/Question Mark

Question 5

Which of these would be considered ethical for H&M?

Accepted Answer

Using environmentally friendly dyes in clothes production?

Question 6

A freelance worker is ...

Accepted Answer

A worker who is self employed?

Question 7

Minimum stock level is also known as...

Accepted Answer

Buffer stock

Question 8

A salary is...

Accepted Answer

A set annual amount divided into 12 monthly instalments

Question 9

Which of these is a way for a business to go into debt?

Accepted Answer

Obtain (get) a loan?

Question 10

Which of these is NOT a method of import protection?

Accepted Answer

Export Subsidy

Question 11

Which of these is not a type of fringe benefit?

Accepted Answer

Commission

Question 12

Which of the following is an example of quantitative market research?

Accepted Answer

Market statistics

Question 13

Variable costs £10, selling price £25 and fixed costs are £60,000 what is the breakeven output?

Accepted Answer

4000

Question 14

If a business is more competitive, it is said to be...

Accepted Answer

Doing better than competitors?

Question 15

This diagram is used to demonstrate...

Accepted Answer

Traditional Stock Control

Question 16

Piece rate are paid according to how many...

Accepted Answer

products a worker produces

Questions 16