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Internal features 2014 Flashcards | StudBud
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Internal features 2014
Internal features 2014
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StudBud Administration
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L1 Business Studies NZ
Flashcards
21 cards
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Practice quiz
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Questions
21
Answers
1
Which ownership type would best suit a family business?
company
partnership
sole trader
2
Which phrase describes an disadvantage for partnerships?
shared resources
limited liability
range of skills
shared profits
3
What type ownership involves directors?
partnership
sole trader
company
4
Which type of ownership involves listing on the sharemarket?
sole trader
partnership
company
5
What is another word for capital?
investing
asset
equity
liabiity
6
Which form of information would be used in applying for a loan?
business plan
credit rating
income statement
power invoice
7
What best describes makes Sir Peter Leitch an entrepreneur?
comes from a wealthy family
always wanted to be famous
made a lot of money
wanted to be his own boss
8
Which business is most likely to be partnership?
lawyers
teachers
diary owner
9
What is the main purpose of an income statement?
to calculate profit/loss
to get more money
to see bank overdraft
to find capital
10
Which product best fits batch production?
homemade apricot jam
sky satellite dish
school uniforms
11
Which one is not a disadvantage for a company?
poor management
lots of paperwork
limited liability
legal costs
12
What type of ownership does franchising best describe?
sole trader
company
partnership
13
What word best defines entrepreneur?
manager
innovative
shareholder
worker
14
Which source of funding is more likely to have low interest rate?
government
investor
family/friends
bank
15
What is this?
steel pipe
coke lid
sharpener
torch
16
Which word does not describe sole traders?
own boss
limited liability
has all the profits
long hours
17
What production method would best suit bottled water?
batch
job
flow
18
What production method best suits air conditioning units?
flow
job
batch
19
What is meant by specialization in production?
special workers
special production methods
skills in a particular production process
special duties at workplace
20
What is the main purpose of assembly lines?
make cars
line of products
assembly of goods
efficiency of production
21
Which production method best suits family based leather jackets?
flow
batch
job
