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The Nature of Business Flashcards | StudBud
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The Nature of Business
The Nature of Business
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Revision questions from the first 4 weeks of Business Studies Prelim- "just touching base"
Flashcards
18 cards
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Practice quiz
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Questions
18
Answers
1
In business what does it mean to "float"
To open a business
To not go into debt
To become a public company and list on ASX
To lie on top of water without drowning
2
When doing a report, when do you write an executive summary?
Last- but it goes first
When you are told to by an executive
never
First as it is the first section of a report
3
What is the abbreviation for the Australian Stock Exchange?
APEC
SEC
ASX
ASE
4
What legal structure is VIP Pet Foods Pty Ltd
Private Company
Public Comany
Sole Owner
Partnership
5
What legal structure is Tip Top Pty Ltd
Partnership
Public Comany
Private Company
Sole Owner
6
What are elements of a Business Report?
Dot points
graphs and diagrams
essay style - paragraph from
Headings
7
What did we look at the Dyson case study for?
The bladeless fan
Vacuums
For innovation and entrepreneurship
For how important patents are
8
What legal structure is Westfarmers Ltd
Sole Owner
Public Comany
Private Company
Partnership
9
What is a stakeholder?
A person who owns shares in a company
Someone who eats a T-bone with their hands
Someone with an interest/stake in a business
Buffy the Vampire Slayer
10
What legal structure is M&M Greenkeeping
Sole Owner
Private Company
Partnership
Public Comany
11
What does unlimited liability mean?
You are not personally liable for business debt
Unlimited insurance for your business
Any debt a business creates- the owner or owner are liable
Unlimited time to pay back your loan
12
What is an SME?
A simple meeting exchange
A small to medium enterprise
A small manufacturing establishment
Part of a business report
13
What are all business examples of services?
Grocery Store, Mechanic and Air Transport
Cleaning, Hairdressing and Clothes
Hairdressing, Lawyer and Dog Walker
Law Firm, Accounting Firm and Computer Hardware
14
What legal structure is Kims Nail Salon
Partnership
Sole Owner
Private Company
Public Comany
15
What are the legal types of a business
goods or service
small medium large
Sole owner, partnership, public co, private co
Local, National, Global
16
What legal structure is AVJennings Ltd
Partnership
Private Company
Sole Owner
Public Comany
17
Words to describe goods are
intangible, transfer of information
primary, secondary, tertiary, quaternary, quinary
tangible, requires storage
excellent, great, wonderful
18
True of False- The majority of SMEs are micro businesses
True
False
