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True or false: Cash flow is constant year-round

Why is stock control important?

Business Forms and Concepts

19 terms·StudBud Administration·3 plays

Test your knowledge on various business forms, financial concepts, and marketing strategies

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Questions 19

Answers

1
Why is stock control important?
To increase prices
To reduce staff
To avoid shortages
To expand space
2
True or false: Cash flow is constant year-round
True
False
3
Where can you get business capital?
Restaurants
Libraries
Banks
Supermarkets
4
How is cash recorded?
In a cash book
In a ledger
In a notebook
In a diary
5
Who is liable in a partnership?
Only one partner
The manager
The accountant
All partners
6
Who handles complaints in a salon?
Stylist
Manager
Cleaner
Receptionist
7
How does marketing work?
By ignoring clients
By limiting products
By researching
By reducing prices
8
What is manual stock control?
Using spreadsheets
Using record cards
Using apps
Using software
9
Which business form has limited liability?
Sole trader
Corporation
Limited company
Partnership
10
What is a niche market?
Broad market
Local market
Focused market
Global market
11
Why is location important for salons?
For decoration
For generating business
For storage
For staff convenience
12
Which costs are fixed?
Supplies
Stock
Power
Rent
13
What are start-up costs?
Annual fees
Monthly bills
Daily expenses
One-off costs
14
What does a balance sheet show?
Daily sales
Product inventory
Employee list
Financial position
15
What is a key selling principle?
Rushing sales
Pressure selling
Ignoring questions
Good communication
16
What is a sole trader?
A company
A partnership
A corporation
An individual
17
What is SWOT analysis?
Planning tool
Finance tool
Marketing tool
Sales tool
18
Why is CPD important?
For skill maintenance
For leisure
For relaxation
For decoration
19
Why offer retail services?
To generate revenue
To limit stock
To decrease staff
To reduce costs