A-Level Business Unit 1-What is a business?

Question 1

What is the primary reason why Businesses exist?

Accepted Answer

To provide goods and services

Question 2

A sole trader is which of these?

Accepted Answer

Unincorporated

Question 3

Which cost is varible?

Accepted Answer

Raw Materials

Question 4

SMART stands for

Accepted Answer

Specific, measurable, agreed, realistic and time bound

Question 5

The Business environmentis affected by forces. It can be assessed using which model

Accepted Answer

PESTLE

Question 6

Not for profit organisations are

Accepted Answer

Are non-government organisations

Question 7

Why do shareholders invest?

Accepted Answer

To be involved, control the business and receive dividends

Question 8

A PLC must have

Accepted Answer

Share capital of £50,000 2 shareholders, 2 directors

Question 9

A functional Objective is

Accepted Answer

An objective set to a functional department

Question 10

Which one is not a primary objective of a profit making organisations

Accepted Answer

To beakeven

Question 11

Cash Flow is

Accepted Answer

Money that has flowed in and out of the business over time

Question 12

True or false - Social and Ethical objectives can be used as a way meet stakeholder needs?

Accepted Answer

True

Question 13

Market capitalisation shows

Accepted Answer

The value of the company based on share price

Question 14

Odd one out - When caluculating costs three terms are used, which is not?

Accepted Answer

Adjustable

Question 15

The Private Sector is run by

Accepted Answer

Private individuals

Question 16

Market growth can be calculated using

Accepted Answer

Change / original x 100

Question 17

A Public Limited company is owned by

Accepted Answer

Shareholder

Question 18

Odd one out - Total revenue is also called

Accepted Answer

Profit

Question 19

A mission in business is?

Accepted Answer

An outline of longterm intentions and can be inspirational

Question 20

Limited Liability means you can lose

Accepted Answer

Your initial investment

Questions 20