The purpose of a cash flow in a business is to provide information on the

Gross receipts & payments for a specific period of time

Why might an interest rate increase be bad for businesses?

Repaying debt will increase to a longer time period

Define the term "AIM"

The direction in which the business would like to go

What is an employer obligation

Employees must pay the average daily pay for sick leave

Economic influences in a business cycle are considered to be:

The movement in the Gross Domestic Product - high and lows

Subjective; General & Vague, Unverifiable,Claims upon which Consumers are unlikely to rely.

Exaggeration claims with no reserach, Deceptive Conduct, False Advertising, Misleading

What are External factors?

A range of outside influences that can impact a business

What effect might ethical behavior have on a business?

Improving relations with suppliers

Pattern of income & expenditure of a business

Internal business funding may come from

Profit retention, Business owner(s) investment

Political; Economic; Social; Technological

Glen Eden Extreme Edge communication methods most effective are:

Car bumper stickers, Official Website, Social Media e.g. facebook

Entrepreneurship means

When innovation becomes a business activity

What is Human Resource?

HR Managers for hiring, firing and training of staff

Why should a business have sufficient funds?

To meet all expenses, make profit other goals to be achieved

A physical place where someone works

What is the recruitment process?

Processes of recruiting employees into a business

What is job analysis?

Formal procedure identifying skills required pior to hiring

Is Bad weather an Internal or External factor?

External Factor beyond a persons, business control, Act of God, beyond the control of a business external factor

What does service delivery offer?

Skill & expertise are what is provided to customers

Vetting applicants for a specific job is important because..

Eliminate unsuitable applicants lacking the knowledge /skill

The purpose of cash flow in a business over a specific times is..

To provide information on the gross receipts and payments

Why should a business have sufficient funds?

To meet all expenses, make profit to achieve business goals

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Business Studies Revision NZ

52 termsStudBud Administration187 plays

Student revision questions for Business Studies New Zealand

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Questions 52

Answers

1
What is this year Maori Concept Word?
Tikanga
Pukake
Kaitiakitanga
2
The purpose of a cash flow in a business is to provide information on the
Keep track of sales of items when cash is received
Gross receipts & payments for a specific period of time
All of the above
assets, liabilities & equity at a point in time
3
I have a study plan in place for Term 3 Study Break and have told the family of my plans
No
Yes
4
True or Fasle: You have a study plan in place
Fasle
True
5
How can external factors affect a business?
All of the above
Cash flow in the business will either +ve or -ve affected.
Consumer demand for goods or services could drop or increase
Affect the stakeholder profits
6
What does IRD in New Zealand stand for?
Inland Revenue Department
Internal Recruitment Department
7
Why might an interest rate increase be bad for businesses?
Could effect production of the business
The value of the $ will decrease/fall
Could change the variable costs for the business
Repaying debt will increase to a longer time period
8
Define the term "AIM"
Where will your business be in 2 years time
What you want to achieve
The direction in which the business would like to go
The amount of people allowed to run the business
9
What is an employer obligation
Employees must keep accurate records on bathroom use
Empolyers must provide lunch to employees
Employers must give employees a pay rise after 9 months
Employees must pay the average daily pay for sick leave
10
Economic influences in a business cycle are considered to be:
All of the above
Factors beyond the control of a businesss e.g. recession
Flooding, Climate change, tsunami etc
The movement in the Gross Domestic Product - high and lows
11
How many partners can there be in a partnership business (unlimited liability)?
Up to 20 people only
Up to 100 people only
No more than 200 people
Only two
12
A positive bank balance means
A business is not in the red
A business can expand & achieve its goals
A business is able to pay all expenses and salaries, bonuses
All of the above
13
True of False: Business funding comes from both internal and external funding resources?
True
False
14
Who has limited liability?
The Warehouse
Emma's "Bubs Flowers" Companhy
All of the above?
15
What is not in the employee recruitment process?
Firing
Induction
Job Analysis
Job description
16
Subjective; General & Vague, Unverifiable,Claims upon which Consumers are unlikely to rely.
Exaggeration claims with no reserach
Deceptive Conduct
False Advertising
Misleading
17
If the business is having problems /difficulty in finance what can the business do?
Obtain a Loan
Obtain a Overdraft
Obtain a Mortgage
Sell and /or Close the business
18
What are External factors?
Something to do with the economy
Internal influences that can impact a business
A range of outside influences that can impact a business
Something to do with the environment
19
What effect might ethical behavior have on a business?
Consumers no longer trust the product
Creates Unloyal customers
Improving relations with suppliers
cause a high number of staff to leave
20
What is a cash flow?
Management of problems occurring in a business
List of assets & liabilities
Pattern of income & expenditure of a business
All of the above
21
Spookers is an example of
A business saves advertising costs by using social media
Unique family business with clear objectives
All of the above
A specific target market always adding new attractions
22
Internal business funding may come from
Profit retention
Business owner(s) investment
Bank or investment companies
23
What is the worst communication method?
Texting
Face to face meetings
Screaming
Email
24
A decrease in countdown’s fruit price is an example of Pak’ n Save ‘s … Environment
Legal /regulatory
Competitive
Economic
Natural
25
What is PEST?
An environmental bug in the political system
Political; Economic; Sustainability; Techniques
Political; Economic; Social; Technological
Political; Environmental; Social; Technological
26
A financial statement that shows where money came from and where it is in a financial period
Cash Budget
Cash flow statement
Income statement
Balance Sheet
27
Glen Eden Extreme Edge communication methods most effective are:
Radio
Car bumper stickers
Official Website
Social Media e.g. facebook
28
Entrepreneurship means
When innovation becomes a business activity
Richard Branson
Steve Jobs
29
Mad cow disease is an example of something happening in the
Tertiary Sector businesses
Primary Sector businesses
Secondary Sector businesses
All of the above
30
The NZ economy is in recession, is it a internal or external factor?
Global Factor
National Factor
External Factor
Internal factor
31
Communication mediums include:
oral
pictures, images and actions
written
All of the above
32
Which ownership structure has limited liability?
Community Organisation
Sole Trader
A company
Partnership
33
What is Human Resource?
HR Managers for hiring, firing and training of staff
A term to describe the value of a person to a business
A term applied to Maori Businesses only
34
Why should a business have sufficient funds?
To meet all expenses, make profit other goals to be achieved
To have lots of extra money
All of the above
To buy extra resources
35
What is the importance of financial documents?
Auditing the business to show profit and /or loss in a frim
All of the above
Legal record of the business transitions
The IRD may ask for the records of a business
36
What is a workplace?
Where you can do community work
All of the above
Somewhere you study
A physical place where someone works
37
What is the Target Market?
Geographical Location
Demographics
All of the above
Distribution Channels
38
What is the recruitment process?
Processes of recruiting employees into a business
the process of ordering supplies for the business
All of the above
The process of advertising your business
39
What is a common barrier of communication?
Misinterpreting other people
Technology failure
All of the above
Workplace conflict
40
A Natural Disaster affecting a business is referred to as..
An economic disaster
An act of God
A extreme natural event
An act of madness
41
What is job analysis?
A low aimed of protecting the rights of New Zealanders
Business trade of goods and services via the internet
Formal procedure identifying skills required pior to hiring
42
What is a Target Market?
Geographical Location
Distribution Channels
All of the above
Demographics
43
Is Bad weather an Internal or External factor?
External Factor beyond a persons, business control
Internal Factor within the businesses control
Act of God, beyond the control of a business external factor
The weather man problem
44
What does service delivery offer?
Skill & expertise are what is provided to customers
Customers are really looked after
Products differ from completing products
The product is the same for every customer
45
What is an expense?
Inventory
Bank
Shop Fittings
Cost to operator a business
46
True or False: Anyone can establish a business?
True
False
47
Vetting applicants for a specific job is important because..
Assists in the short-listing applicants for interviews
Eliminate weirdos so you don't get stuck with them
Saves costs, time for a business interviewing unsuitable ppl
Eliminate unsuitable applicants lacking the knowledge /skill
48
The purpose of cash flow in a business over a specific times is..
All of the above
Keep track of sales of items when cash is recieved
Measure assets, liabilities & equity of a business
To provide information on the gross receipts and payments
49
What is an asset?
All of the above
Something that helps generate profit
Resources that a business owns
Something that helps produce products and provide services
50
The mission statement is available for the _____ to see
All of the above
Head of the organisation
Public
Employees
51
Why should a business have sufficient funds?
To meet all expenses, make profit to achieve business goals
To have lots of extra money
All of the above
52
What is a business?
A goods and service provider
Jail House
Organisation of wealthy people

Business Studies Revision NZ Flashcards | StudBud