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Year 11 Bus.Studies Skills Test Revision Term 1 + 2
Year 11 Bus.Studies Skills Test Revision Term 1 + 2
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Year 11 Business Studies Pre-Exam Study Questions
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Questions
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Answers
1
An example of a local business can include:
Westfield
Bakery
Woolworths
Newsagent
2
The ASX is an institution designed to be:
A market to buy and sell shares
A high-security prison
A free generator of shares for public companies to use
Of assistance to entreprenuers
3
SME is an acronym for.
Small to Medium Entertainment
Small to Mediocre Artists
Small to Medium Enterprises
Sydney Markets and Enterprises
4
A micro-sized business has how many employees?
Between 5-20
More than 5
Less than 5
More than 20
5
In what decade did the financial sector deregulate?
1990s
1890s
1980s
2000s
6
An example of a monopoly business is:
Sydney Water
Pump
Mount Franklin
Schweppes
7
WIPES ICE Q is an acronym to describe what?
The roles of business
Influences on the business environment
The different types of business
Different types of legal structure
8
Monetary Policy is a policy enacted by the:
Police
Federal Government
Reserve Bank of Australia
Commonwealth Bank
9
The Trade Practices Act 1974 protects consumers against what?
The effects of interest on loans.
Misleading good/service information.
Changing prices of products over time.
Relentless mosquitos.
10
Teamwork is proven to be a disadvantage to workers. True or False?
True
False
11
What type of business structure does classical-scientific businesses follow?
Republic
Democratic
Hierarchial
Facism
12
To extract raw minerals from the earth falls into what industry?
Primary
Quarternary
Quinary
Secondary
13
What does TNC stand for?
Trans-National Corporation
Trans-National Coaches
Toby's Nitro Car
Trans-National Company
14
If a business doesn't have an ABN, what amount of tax can be withheld?
100%
30.5%
68.6%
48.5%
15
To what institute must a public company register their prospectus?
ASIC
ACCC
WWF
EPA
16
Which two people founded the ideas behind the behavioural management strategy?
Donald Trump and David Cameron
Elton Mayo and Fritz Roethlisberger
Max Weber and Henry Fayol
Frederick Taylor and Henry Ford
17
The Hawthorne Studies revealed..
That team work persuades workers to take risks.
Anti-doping breaches in the Hawthorne AFL Club
That most managers follow a contingency business approach.
That team work is beneficial to workers.
18
What is NOT an aspect of a good manager.
Develops plans
Coordinates activities
Analyses information
Unaware of business goals
19
What is not an example of a health regulation.
Clothing requirements.
Tax requirements.
The temperature of food storage.
Kitchen layout.
20
Who imposed the GST?
Kevin Rudd
Paul Keeting
John Howard
Bob Hawke
21
Fiscal Policy is a policy enacted by the:
Reserve Bank of Australia
AFP
Council of Pittwater
Federal Government
22
What percentage do SME's count towards businesses in Australia?
23.6%
99.7%
99.9%
50%
23
What is a disadvantage of a private company?
Unlimited Liability
Can be sued
Dissolution after owner's death
Cannot sell shares on the ASX
24
What is zoning?
A way to run a business.
The separation of residential areas from industrial ones.
A form of illegal segregation.
The separation of a business from a home office.
25
A shareholder can own a part of a company by doing what.
To buy goods and services from a business
To take an interest in a businesses activities
To buy shares from a public company
To constantly stay in contact with a company
26
Name a type of government level in Australia.
State
Westfield Management
Brookvale Council
National
27
A small business has roughly how many employees
Less than 100
Around 1000
Between 100-150
More than 100
28
A small, service based business has roughly how many employees?
Between 75-200
Less than 20
More than 100
Between 50-100
29
An example of a form of finance is?
Equity Financing.
Fiscal Policy.
Profit Financing.
Debt Financing.
30
True or False. A stakeholder and a shareholder are exactly the same thing.
True
False
31
To trademark something is to do what?
To protect a business name, logo or slogan.
To claim rights over the custody of a child.
To trade goods between other businesses.
To protect your human rights.
32
What does PTY LTD stand for?
Private Legislation
Proprietary Limits
Potatoes and Lentils
Proprietary Limited
33
What is an advantage of being a sole trader?
Allows sharing of business responsibilities
Individual keeps all profits.
Unlimited Liability
Limited Liability
34
A company that is PTY LTD is what?
Public
Rich
Maintaining a stable legal status with the government
Private
35
A bank would fall into what industry sector?
Tertiary
Primary
Quaternary
Reserve Bank of Australia's Private Sector
36
The three forms of business management include:
Contingency, Democracy and Autocracy
Behavioural, Classical, Contingency
Management, Scientific, Classical
37
A reason why a SME would fail is______
The Rio 2016 Summer Olympics.
Incorrect marketing strategy.
Increasing profits.
Decreasing debt.
38
What are the four ways a business can be classified?
Size, Income, Geology and Net Worth
Size, Geographical Spread, Industry and Legal Structure
Location, No. of Employees, Industry and Net Income
Geographical Spread, Legal Structure, Industry and Service
39
Rates are based on the value of what?
Australia's GDP
Annual turnover of the business.
Land
A businesses assets.
40
Frederick W. Taylor invented what:
Ideas behind Classical-Scientific management strategy
Standard OHS practices in most workplaces
The light bulb
Ideas behind Behavioural management strategy
41
Strategic planning is planning for:
The long-term survival of the business
The short-term day-to-day activities
Changes in the business environment
The survival of mankind
42
An example of a business goal is:
To increase profits and wealth
To increase debt levels
To force the business into cessation
To lose staff
43
What type of business is the ABC?
Government Enterprise
Partnership
Private
Public
44
Up to how many legal business partners can a vet have?
100
4
2
400
45
MC PIGS LEFT is an acronym used to describe what?
Internal influences on businesses
The stages of the business life cycle
External influences on businesses
The five industries
46
An example of a geographic influence on Australian businesses is?
Location of Australia in the North Atlantic region.
A lack of net income
The desired area for which you can build a dream house.
Location of Australia in the Asia-Pacific region.
47
RRP is an acronym for what (in business terms) ?
Recommended Retail Price
Recommended Retail Place
Refugee Resettlement Programs
Registered Resort Professional
48
The mechanised assembly line invented by Henry Ford in 1913 follows which management strategy?
Contingency
Democratic
Classic-Scientific
Behavioural
49
To clean someone's house falls into which industry?
Secondary
Quaternary
Quinary
Tertiary
50
What type of business, in regards to geographical spread, would Apple be?
Global
National
Local
American
