U2 Business Management Outcome 1 Revision

Which of the following best describes financial control systems?

The definition of full-time permanent employment is

Which of the following is NOT a step in the policy development process?

Which of the following is NOT an example of the use of technology in manufacturing?

Which of the following is a software that is primarily designed for bookkeeping?

Which of the following is not a platform for social media advertising?

Which of the following would not be covered by WorkCover insurance?

Which of the following best describes an overdraft facility?

Which of the following is an unlikely result of a business being exposed for sourcing goods from unethical suppliers?

Which of the following areas is least likely to be addressed by a policy?

Shows a business’s assets and liabilities (the financial position of a business) at a point in time

Which of the following would be considered an advantage of external audits as compared to internal audits?

Which of the following would NOT be a benefit of choosing a supplier in close proximity?

By separating business bank accounts, it makes it more challenging to calculate business expenses, such as bank fees.

Estimating the business’s financial performance for a given period in the future is the process of

Which business structure allows the owner to operate in their own name without the need to register the business name

Which of the following is the least likely to be a consideration when establishing a business bank account?

Which of the following best describes Australia’s progressive tax system?

Which of the following terms describes a set of broad guidelines to be followed by all employees of a business?

Which of the following are not areas addressed by the Fair Trading Act 1999 (Vic)?

Which of the following is considered a benefit of maintaining accurate records?

Which of the following is NOT a strategy for managing cash flow?

Cash flow is defined as

A summary of all the business’s cash receipts & cash payments is recorded in the...

Which of the following is NOT considered vital when choosing a supplier?

Which of the following steps comes earliest in the policy development process?

The keeping and processing of a business’s financial records is

The separate entity accounting principle recognises that the owner’s finances are separate to those of the business

Which of the following are features of an effective domain name?

Which of the following is the most important factor for business owners when selecting a business bank account?