A partnership can not be described as a company because:

The owners have a separate legal entity

A person with a connection to a business

An entrepreneur is someone who:

Sees a business opportunity and takes it

The acronym SMART stands for:

Specific, Measurable, Achievable, Realistic& Time-frame

A venture capitalist is:

A wealthy business person who invest and supports a business

A mission statement describes...

The overall purpose of a business

Which of these is a disadvantage of being a partnership?

Conflict with other business owners

The role of the IRD is to:

Collect taxes and distribute benefit payments

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NCEA Level 1 Business Studies - 1.1 Internal Features

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NCEA Level 1 Business Studies 1.1 Topics

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Questions 20

Answers

1
A shareholder is a stakeholder but a stakeholder is not always a shareholder - true or false?
True
False
2
Which of these is a consequence of good employer/employee relations:
Lack of conflict
Positive working relationships
Mutual respect
All 3 answers
3
A partnership can not be described as a company because:
The owners have a separate legal entity
The owners have the same legal entity
They have gone through a different legal process
Partnerships are illegal in New Zealand
4
Which of these is NOT an internal source of finance?
Retained Profit
Sale of Assets
Owners Capital
Bank Loan
5
A stakeholder is...
A person who owns part of a business
A person responsible for keeping the business running
A person with a connection to a business
A carnivore holding their lunch
6
An entrepreneur is someone who:
Sees a business opportunity and takes it
Becomes wealthy from owning a business
Has a business that has failed
Runs a successful business
7
The acronym SMART stands for:
Specific, Measurable, Attainable, Realistic & Time-frame
Specific, Manageable, Realistic & Time-frame
Specific, Manageable, Attainable, Realistic & Time-frame
Specific, Measurable, Achievable, Realistic& Time-frame
8
Which of these is a consequence of good employer/employee relations?
All of the above
Positive atmosphere
High motivation
Few workers want to leave
9
Which of these is NOT a way of measuring business success?
Profit
Market share
Number of employees
Location
10
The term used to describe problems with communication is:
Problems with Communication
Barriers to Communication
Blocks to Communication
Errors with Communication
11
Which of these is NOT a measure of the success of a business?
Revenue
Number of Employees
Profit
Business Objectives
12
Which of these is NOT a financial document likely to be produced by small businesses?
Invoice
Annual Report
Sales Receipt
Cashflow Forecast
13
A venture capitalist is:
A wealthy business person who supports but does not invest
A wealthy business person who invests in a business only
A wealthy person who has nothing to do with small businesses
A wealthy business person who invest and supports a business
14
Which of these is an example of formal communication?
Report
Conversation
Texting
Instant Messaging
15
A mission statement describes...
The overall purpose of a business
A description of the history of the business
The specific goals of a business
The short term aim of the business
16
The document that sets out how a company should be run is called:
A Contract
A Constitution
An Agreement
A Deed
17
Which of these is a disadvantage of being a partnership?
Conflict with other business owners
Increased access to capital
Impossible to take holidays
Expensive and time consuming to set up
18
Which of these is not a disadvantage of being an entrepreneur?
Working for yourself
Working long hours
Risk of failure
Having to find start up capital
19
An invoice is:
A document requesting payment
A document showing sales for a period
A document showing payment received
A document showing stock coming into a business
20
The role of the IRD is to:
Collect benefit payments and distribute taxes
Collect taxes and distribute benefit payments
Inspect businesses to check health & safety
Issue building consents

NCEA Level 1 Business Studies - 1.1 Internal Features Flashcards | StudBud