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The Nature of Business - 10BUX1 Flashcards | StudBud
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The Nature of Business - 10BUX1
The Nature of Business - 10BUX1
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Questions
30
Answers
1
Why are Businesses "Flattening their Structures?"
Managers are becoming disliked
Expertise of employees is rising
Decrease in competition
Advancements in technology
2
Danny's Diner Dash Pty Ltd is a business with what legal structure?
Partnership
Private Company
Public Company
Sole Trader
3
"An intangible asset that is associated with the purchase of one company by another" refers to...?
Goodwill
Shares
Equity
Monetary Value
4
Incorporated Business is where the Business Entity and Owner are one and the same
True
False
5
As well as being hard to pronounce for some people, what do Oligopolies refer to?
Small number of larger businesses dominating the market
Large number of businesses that sell products that are similar of the same
A large number of buyers and sellers
Complete concentration by one business in the industry
6
Ayush Brands his Company with a Logo and Name that he does not own nor is associated with. Which law has been violated?
Intellectual Property Laws
Health and Saftety Regulations
Organisational Laws
Securities Law
7
What Factors Influence Legal Structure?
Market, Customers, Shareholders
Social, Legal, Economic
Size, Owners, Finance
Environment, Managers, Employees
8
Which of these Companies is an example of a GBE?
NBN Co Limited
Commonwealth Bank
Woolworths Group
Afterpay
9
Define Cessation
A receiver appointed by creditors or the courts to operate the business
An independent administator is appointed to operate the business
Closure of a business
The legal court order businesses go through when bakrupt or liquidated
10
The Culture of a Business is mostly Evident in its Organisational Structure
True
False
11
Define Market Share
When businesses sell a similar product to the market
The monetary value attatched to a business's reputation
Total industry sales for a particular product or portion of the market
Measure of sales for all products that a business sells to the market
12
Name a Current Political Issue affecting Businesses
Social Reforms
Labour Protection Laws
Government Expenditure
Rise in Unemployment
13
A Car Manufacturer would be an Example of Monopolistic Competition
False
True
14
Andriy and Timothy have decided to merge their Tutoring Businesses Together. This is an example of...?
Horizontal Integration
Vertical Integration
Diversification
15
Complementary Business refers to businesses that sell a similar range of Goods and/or Services
False
True
16
After much thought, Andriy doesn't merge with Timothy and decides to merge with Justin's Cafe. This is an example of...?
Diversification
Horizontal Integration
Vertical Integration
17
Inflation can be caused by a rapidly expanding economy
False
True
18
These Stakeholders desire Immediate Returns and Profits
Customers
Employees
Managers
Shareholders
19
What is the Establishment Requriement of a Partnership?
Must have Pty Ltd in its name
Size and operations subject to Partnership Act 1892 (NSW)
Business name must be registered to ASIC if it's different from owners name
The partnership must have a legally binding agreement (verbal or written)
20
It is Easier to Enter Perfect Competition or Monoploistic Markets
False
True
21
The best way that an arguement between Lachlan and Hayden's Partnership could have been avoided is a Verbal Agreement
False
True
22
The Approach or Leadership Style of these Stakeholders can have a huge influence on employees
Owners/Shareholders
Customers
Managers
Society/General Public
23
Piravin sets up a Business in a cold, snowy suburb. Which Geographic Influence will affect him the most?
Climate
Location
Natural Resources
Topography
24
When Reading the Scenario of a Business Report, you must...
Underline/Highlight Key Terms of the Scenario
Identify the Directive Verbs
Start Writing without Planning
Highlight Terms that are Irrelevant to the Question
25
Define Zoning
Permitting and Probhibiting land by dividing it into different areas
When Businesses have to choose a certain location
Buying and selling in and out of a certain market
26
The Three Levels of Government are National, State and Council
True
False
27
The NSW Fair Trading Act is apart of which Institutional Influence?
Other
Government
Regulatory Bodies
28
Ms Bilton requires Textbooks, Latops and Pens to teach her Class. What Resource does this refer to?
Information Resources
Financial Resources
Human Resources
Physical Rsources
29
The Financial Market was Deregulated in 1983 meaning...?
Availability of funds was limited to domestic markets
Financial control was reduced
There was an increase in trade opportunities
30
How does the New and Emerging Organisational Structures Differentiate from Traditional ones?
Delegation is by agreement
Communication is from the higher levels or managment to lower
Division of labour is "labour specialised"
Task/activities are centered
