stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Business Studies | Quiz Two Flashcards | StudBud
Explore
/
Business Studies | Quiz Two
Business Studies | Quiz Two
20 terms
·
StudBud Administration
·
44 plays
Imported from external platform
Flashcards
20 cards
F
Practice quiz
P
Host live
L
Questions
20
Answers
1
Which of the following represents an advantage of a partnership?
New ideas are available
The risk of business failure is reduced
Profits must be shared
Each of the owners must contribute equal amounts of finance
2
Which of the following represents a social influence on business?
The trend towards e-commerce and online purchases
The trend towards more consumers eating at fast-food restaurants
The increased participation of women in the workforce
The increased number of small businesses operating across the country
3
Which of the following represents an economic influence on business?
Changing tastes and preferences among consumers
Higher prices for inputs and supplies
Climate changes across a specific geographical region
Increased company tax rates
4
Which of the following represents the concept of limited liability?
All consumers are insured against possible injury while at the business
Owners of businesses are responsible for only half of debt of the business
Financial obligations of business are the direct responsibility of owners
Assets of owners are legally recognised as separate from the business.
5
Which of the following reasons explains the importance of corporate culture to an organisation?
It identifies how the business will be operated and managed
It establishes the shared values and beliefs within the business
It describes training and development programs for all employees
It explains the process of resolving disputes within the workforce
6
Changes in consumer preferences across specific regions are reflective of which influence on business?
Geographic
Markets
Economic
Institutional
7
Which of the following would be an advantage of a business being registered as a private company????
Personal assets of the owners cannot be sold if the business is can't pay
Restrictions may apply to the amount of funds being borrowed.
Profits, decision-making and risk-taking must all be shared.
Owners may disagree on the directions of the business.
8
Management of a business are seeking funds to expand their business overseas. Which of the following influences is this?
Geographic
Social
Economic
Financial
9
Which of the following terms best describes the process of governments selling businesses to the private sector?
Demutualisation
Corporatisation
Deprivatisation
Privatisation
10
The decision of management not to recall a product that is known for issues causes conflict among which stakeholders?
Competitors and suppliers
Employees and government
Management and consumers
Shareholders and employers
11
Industries are characterised by strong government regulation, limited competition and high prices.
Which type of market?
Monopolistic competition
Oligopoly
Monopoly
Duopoly
12
Which of the following describes the financial obligations of a sole trader when/if a business is forced to close?
Personal assets of the owners are protected from any debts of the business
The assets of the business may be sold if the business can repay debt
Personal assets of owners may be sold if business is unable to repay debt
The assets of the business are protected if owners are unable to repay debt
13
Which of the following forms of income do shareholders in public companies receive?
Dividends
Income
Royalties
Profits
14
Which of the following industries would a business involved in the manufacturing of sporting equipment be involved in?
Tertiary
Quaternary
Primary
Secondary
15
The following questions assess topics we have only briefly covered.
Do you understand?
True
False
16
Which of the following legal structures would best suit a business seeking funds to expand internationally?
Public Company
Sole trader
Cooperative
Private Company
17
Which of the following terms best describes individuals or groups who are affected by the operations of a business?
Investors
Creditors
Stakeholders
Shareholders
18
Which of the following is a benefit to a business if the owners move from a private to a public company?
Increased ability to access higher levels of finance
Higher profits as the business is able to expand into new locations
Increased sales due to higher customer awareness
Higher costs of production to cover the increased use of labour
19
Which of the following factors is least likely to influence the location of a business?
Proximity to customers
Level of infrastructure
Accessibility to suppliers
Availability of finance
20
Which of the following would be an example of a national business?
A new pharmacy opening in a local area
A supermarket with locations across the state
A fast-food restaurant established in Australia now being opened overseas
A furniture store being franchised across different areas of Australia
