stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Business Studies Random R061 Knowledge Check 2016 Flashcards | StudBud
Explore
/
Business Studies Random R061 Knowledge Check 2016
Business Studies Random R061 Knowledge Check 2016
34 terms
·
StudBud Administration
·
267 plays
#Business Studies #Shad #2108 #Mr.G #Gulabkhan #R061
Flashcards
34 cards
F
Practice quiz
P
Host live
L
Questions
34
Answers
1
Advantage of selling to a supermarket
More storage and costs
Quality requirements is high
Less storage and costs
Better consumer feedback
2
What is UNLIMITED LIABILITY?
The owner is responsible for all business debt
The Company and owner is responsible for all business debt
The company is responsible for all business debt
The bank is responsible for all business debt
3
Define Breakeven
Breakeven is when the business makes a profit
When the business makes neither a profit or a loss
Breakeven is when shareholders get lots of profit
Breakeven is when the business makes a loss
4
Disadvantage of wholesalers
Less profit
Better consumer feedback
Less storage and costs
Quality requirements is high
5
What source of finance would be best for a company purchasing new premises?
Mortgage
The mafia
Loan
Bank Overdraft
6
Advantage of wholesalers
Quality requirements is high
Less Profit
Better consumer feedback
Less storage and costs
7
What objectives would a Sole Trader try to achieve if they went into Partnership
To do less work
Can only sell to family and friends
Business growth
Easy to set up
8
Sole Traders are most likely to operate an/a
Clothing retailer
Accountancy firm
Supermarket
Plumber
9
What does SMART stand for?
Soletrader, Merchandise, Accounts, Rules,Tills
Specific, Measurable, Activities, Realistic, Targe
Survival, Money, Aims, Rent, Targets
Specific, Measurable, Achievable, Realistic, Time
10
Which one of these is a SOLE TRADER?
TESCOs Supermarket
Marks & Spenser Chain
Nindies Chip Shop
McDonalds Restaurant
11
What is the formula for Breakeven?
Selling price / Fixed Costs / Variable costs
Selling price X Fixed Costs / Variable costs
Fixed Costs / Selling Price - Variable Costs
Fixed Costs X Selling Price - Variable Costs
12
Which of these are not economical factors
Interest Rate
Unemployment
Inflation
Litter
13
What 3 letters is at the end of Private Limited Company?
CLP
MRG
LTD
PLC
14
What are the benefits of becoming a Sole Trader?
Be your own boss, choose your hours, keep all the profits
Start up costs are usually high, be your own boss
Be your own boss, Share all your profits
You're the boss, get money from shareholders,pick your hours
15
What are the purpose of having business objective?
To get a loan
Give direction and purpose
monitor, control and review
Employ staff
16
Cash flow is the .............. of cash into and out of a business
costs
profit
movements
dividends
17
What are the disadvantages of a partnership
New knowledge coming into the business
Might agree
More money coming in
Might disagree
18
Which is not a characteristic of a Sole Trader?
Can employ staff
Limited Liability
Unlimited liability
Can make own decisions
19
Which one of these IS NOT disadvantage of a Sole trader?
Keep all profits
Less experience
More risk
Working long hours
20
What factors might not be considered when buying new machinery?
How long will it last
Who has used it before
Cost of training
Eco friendly
21
Which of these are not environmental factors
Litter
Demand
Packaging
Fashion in food
22
Which of these is a method of primary market research?
Conducting questionnaires
Internet research
Reading newspapers
Reading journals
23
Identify a feature of a public limited company
Owned by one person
Has Unlimited Liability
Can sell shares on the stock exchange
Can only sell shares to family or friends
24
Partnership are most likely to operate an/a
Accountancy firm
Supermarket
Plumber
Clothing retailer
25
Sole Traders are most suitable for trading
Internationally
Locally
Nationally
Globally
26
What is a Sole Trader
The Government owns the business
2 - 20 people own the business
Both the Government and one (and others) own the business
One Person owns the business
27
What are the advantages of carrying out secondary research?
Usually cheapest method
Usually more expensive
You have to do it yourself
It is already done for you
28
Which of these are not ways to motivate staff?
Competition
Job rotation
Training/Re-employment
Not setting targets
29
Which one of these IS NOT a benefit of a Sole trader?
Make all the decisions,
Keep all profits
Full control
Shared finance
30
What is a business objective?
How to sell the business
Where you want the business to go
31
What is a feature of batch production
Does not require machinery
Identical/similar products in limited time
Identical/similar products in unlimited time
Requires machinery
32
Which of these is a business objective?
Health and Safety
Cost of machinery
Working hours
Market Share
33
Disadvantages of selling to a supermarket
Less storage and costs
Better consumer feedback
Less Profit
Quality requirements is high
34
Which is not a common characteristic of a Partnership?
Share profits and losses of the business
You have greater borrowing capacity
Can access money from Shareholders
Can have limited or unlimited liability
