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IB BUSINESS & MANAGEMENT UNIT 1 QUIZ Flashcards | StudBud
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IB BUSINESS & MANAGEMENT UNIT 1 QUIZ
IB BUSINESS & MANAGEMENT UNIT 1 QUIZ
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A quiz designed for students studying the IB in Business Management year 11.
Flashcards
17 cards
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Questions
17
Answers
1
An (IPO) occurs when a business sells itself to another business
False
True
2
Microfinance is aimed at the owners of large companies
False
True
3
The private sector is run by the government
True
False
4
Cooperatives are for-profit social enterprises owned and run by their members
True
False
5
The "stock exchange" is a market place for trading stocks and shares of social enterprises
False
True
6
Unlimited liability is when...
a sole trader or ordinary partnership are liable for all monies owed
a sole trader or ordinary partnership are not liable for any moneys owed
a sole trader or ordinary partnership are liable for some monies owed
7
Which of the following are benefits of social enterprises, from society's point of view.
Charities provide financial support for the welfare of society
Help raise funds for medical research and for the protection of children.
Tax incentives for donors
Most charities survive on one source of finance - donations.
8
What does limited liability mean?
if the business goes bankrupt shareholders must pay all of the company debt
shareholders cannot lose more money than they invested into the company
that there is no limit on the amount of money the owners are liable for
9
Microfinance is the main job performed by NGOs
False
True
10
A deed of partnership is a legal contract signed by the owners of a partnership.
False
True
11
A charity is a for-profit social enterprise
False
True
12
What is the difference between a private limited and a public limited company?
a public limited company can advertise and sell its shares to the public
a public limited company is owned by private family members and friends
a private limited company can raise money from the general public
they are both the same thing
13
Charities are a form of social enterprises
False
True
14
An NGO is a non-profit social enterprise that operates in the private sector.
False
True
15
Microfinance is a financial service aimed at small businesses, especially females and those on low incomes
False
True
16
When do Public-private partnerships occur?
when the government works together with the private sector.
when the governement borrows money from the private sector
when the private sector sells its shares to the public sector
17
Which one of the following is an advantage of being a sole trader
No need to make financial records public, more privacy
limited economies of scale, no large scale production
There is no limit on debt responsibility
Hard to secure funds beyond personal savings
