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Business Studies Semester 1 Monster Quiz! Flashcards | StudBud
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Business Studies Semester 1 Monster Quiz!
Business Studies Semester 1 Monster Quiz!
30 terms
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StudBud Administration
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Quiz on EVERYTHING we have done so far.
Flashcards
30 cards
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Questions
30
Answers
1
The contingency approach to management refers to:
where the aim of m'ment is improve interpersonal skills
flexibility of practices for different circumstances
seeking continuous improvement in employee performance
setting predetermined goals and formulating strategies
2
Which is not an option for the Post-Maturity stage of the business life cycle?
Steady State
Decline
Upturn
Renewal
3
Which is the correct formula to calculate COGS?
opening stck + price x purchases – closing stck / net profit
opening stock - purchases + closing stock
opening stock + price x purchases – closing stock
opening stock + purchases – closing stock
4
A manager needs to satisfy different individuals' and groups' interests. This is
Reconciling stakeholders
Communication
Problem solving
Flexibility
5
The person who risks his or her time, energy and money to start a business is called
a financier
an employer
an innovator
an entrepreneur
6
How might you attempt to achieve greater staff involvement in your business?
Staff Innovation
Mentoring
Motivation
Training
7
A law is passed that makes some of the work that your business does illegal.
This is a legal influence
This is an internal influence
This is the political influence
This is an external influence
8
Mining company Hyper Global Mega Gnat Ltd is...
in the primary industry
in the quaternary industry
in the tertiary industry
in the secondary industry
9
The percentage of the total market that the particular business sells to. This is...
Profit
Market Share
Inventory
COGS
10
Which of the following legal structures would be appropriate for the business in the stimulus?
Public Company
Sole Trader
Private Company
Partnership
11
"People skills" are also known as
Strategic thinking skills
Interpersonal skills
Vision
Problem solving skills
12
Which management approach is mostly concerned with improving output of employees?
Trevor
Classical
Contingency
Behavioural
13
The best definition on an external influence is...
One within the business' control
One outside the business' control
One not within the business
One outside the business
14
Mining company Hyper Global Mega Gnat Ltd is...
a private company
a partnership
a sole trader
a public company
15
A benefit of improved interdependence is...
Greater cooperation
Improved specialisation of staff
Less miscommunication
Improved efficiency
16
Which is not a P of the marketing mix?
Product
Pace
Promotion
Price
17
Which function is this? Purchasing beds to be sold by a shop.
Marketing
Finance
Operations
Human Resources
18
Which of the following is not a function of a business?
Production
Aiding Foreign Powers During a War
Providing Choice to Consumers
Employment
19
Which function is this? Placing a job ad on Facebook.
Finance
Marketing
Operations
Human Resources
20
What responsibility does a business have to its employees?
To charge fair prices
To pay taxes
To act ethically
To provide fair pay and conditions
21
The best definition on an internal influence is...
One within the business
One within the business' control
One that is part of the business' physical layout
One inside the business
22
Which of the following statements best defines the term ‘marketing’? Marketing is...
all activities involved in the production of goods
any activities undertaken to promote a range of goods
activities to plan, price, promote and distribute goods
the distribution of goods from wholesaler to retailer
23
Which function is this? Creating a Balance Sheet.
Operations
Finance
Human Resources
Marketing
24
A business has 4 employees. According to the ABS that means it is a...
large business
small business
monster sized business
medium business
25
Quality testing of raw materials, by random sampling, is an example of which type of activity?
Quality product
Quality insurance
Quality control
Quality differentiation
26
Which of the following states the process involved in planning?
Analysing past performance
Reacting to daily business crises
Responding to last year’s financial collapse
Setting standards and targets
27
For what reason is it important to coordinate business functions?
To make the task of business organisation harder
To give managers extra work to do
To assist with achieving plans
To make employees feel valued
28
When is profit generated?
When less goods are produced than are sold
When a business sells goods or services
When value is added
When revenue is greater than expenses
29
Which of the following is an innovation?
Ergonomic chairs
Inventing the wheel
Waterproof raincoats
Selling used cars
30
Which of the following would be a financial business goal?
Provision of parking spaces to all employees
Instructing all managers to wear formal attire
Increasing market share over time
Employing young people as casual labour
