stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
2025 Big, massive end of term quiz. Flashcards | StudBud
Explore
/
2025 Big, massive end of term quiz.
2025 Big, massive end of term quiz.
30 terms
·
StudBud Administration
·
48 plays
Imported from external platform
Flashcards
30 cards
F
Practice quiz
P
Host live
L
Questions
30
Answers
1
Which of the following is an example of an external influence on a business?
A new management team
The choice of the site for the business
The choice to have a 4 day week
Consumer confidence
2
The third stage in the business life cycle is"
Establishment
Post-maturity
Maturity
Growth
3
Which of the following businesses would be an example of a Trans National Corporation?
Visy Recycling
Bakers Delight
Samsung
Coles
4
Raahiq and Mark are part owners of a company. As part owners they are called:
Entrepreneurs
Managers
Shareholders
Stakeholders
5
Venice and Kimlieng are partners in a thriving lawn mowing business. However, if they cannot pay their debts they face:
Ridicule
Bankruptcy
6
GDP stands for
Great Dane Products
Gross Domestic Processes
Gross Domestic Product
Gross Declining Prices
7
What are the costs associated with running a business referred to as?
Revenue
Profit
Cost of goods sold
Expenses
8
Tahlyana is deciding on the legal structure of her business. Which of the following will not be a factor in her choice?
The number of owners
The industry it operates in
The size of the business
Geographic spread
9
Which of the following is NOT a role played by businesses in society?
Generate revenue for the government
Provide choice
Determine industrial laws
Provide employment
10
Jeweline has made one of her business's goals to ensure all employees are treated fairly. What type of goal is this?
Growth
Social
Environmental
Market share
11
Which legal structure has the greatest risk of failure due to a lack of finance?
Partnership
Sole Trader
Private Company
Public Company
12
Which of the following businesses would form part of the Tertiary industry?
BHP Pty Ltd
A restaurant
A farm
A biscuit factory
13
Which federal government agency regulates business activities to ensure competition and protect consumers?
Australian Securities and investment commission
Australian Competition and Consumer Commission
14
Why is a goal so important to a business?
It helps in the organising function of management.
It serves only as a means to achieve a business’s profitability objective.
It is a means of motivating a business’s suppliers and society.
It represents a benchmark to compare planned and actual performance.
15
What is the maximum number of shareholders a private company can have?
50
500
Unlimited
2
16
When an economy is at the peak stage of its cycle you would expect:
An increase in welfare spending
Inflation to decline
Revenue from taxation to decline
Wages to rise and unemployment to fall
17
Saif owns a news agency in the Sydney CBD. How would this business be classified from a geographical point of view?
Regional
National
Local
Transnational
18
Brendan is a shareholder in Big Bloody Bank LTD. Identify the type of revenue earned by Brendan from this business.
Interest
Dividend
Stock
Income
19
Manaaki is the CEO of Big Bloody Bank Ltd. What is the legal structure of Manaaki's business?
sole trader
Partnership
Private Company
Public company
20
Aalina owns an accounting firm. What industry is it in and what does it offer?
In the quinary industry and offers options
Primary industry and offers advice
Quaternary industry and offers information
Secondary industry and offers information
21
Costs associated with running a business are known as:
Revenue
Profit
Expenses
Risk
22
An administrator is appointed to operate a company in the hope it can trade out their financial problem. This is called
Bankruptcy
Voluntary administration
Involuntary administration
Liquidation
23
Lika has just established a set of SMART goals for her business. What are the characteristics of a S.M.A.R.T. goal?
Specific, marketable, achievable, real and timely
Specific, measurable, achievable, relevant and timebound
Special, methodical, actual, realistic and timebound
Special, measurable, attainable, realistic and timely
24
Which of the following businesses would form part of the Quinary industry?
A silver mine
A farm
A laundry service
A bank
25
Something done for you by someone else is known as a:
Product
Service
Good
Production
26
An example of a primary industry is
Rock Pool Japanese restaurant
CSR sugar refinary
Jims Mowing
BHP MIning Ltd
27
Ray Kroc was an entrepreneurs and CEO of McDonalds. Entrepreneurship is associated with
Pricing
Development
Risk
Research
28
Liam and Laithan own a domestic airline. A positive external influence on their locally owned business would be ?
The decision of the government to increase company tax to 40%
The government reinstating restrictions on overseas companies
A spate of aviation accidents
A strike at the aviation fuel depot
29
Which of the following best describes the establishment stage of a business?
Low costs, low sales, low profit
High market share, low sales
High costs, low sales, low profit
Low market share, high sales
30
What does business provide to a society’s consumers when they buy a product?
Employment
Freedom
Choice
Wealth
