The main source of information available to potential investors in a SME is the:

statement of financial position

involves buying an established business

Define the term target market

The customers you could potentially sell to

goals for the business and the steps to achieve them

Just-in-time management includes

keeping minimal stock and ordering supplies prior to use

money obtained from a venture capitalist.

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Prelim Business Studies: Business Planning

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Multiple choice for topic 3

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Answers

1
The main source of information available to potential investors in a SME is the:
business plan
prospectus
articles of association.
statement of financial position
2
The variable cost=$2, selling price=$5. 50 000 yo-yos sold. Fixed costs= $30 000. Break-even?
30 000.
10 000
50 000
20 000
3
Franchising:
involves the use of a registered name under licence.
requires no government regulation
reduces the level of competition among businesses
involves buying an established business
4
Define the term target market
A shop that sells guns
The customers you could potentially sell to
How you advertise your product
A niche in the market
5
Whic of these give the best competitive advatnage?
Price, benefit and value
Price, size and colour
Price, weight and performance
Labels, management skills and colour
6
An entrepreneur is:
a factor of production
all of the above.
a risk taker
an inventor
7
A business plan:
goals for the business and the steps to achieve them
allows stakeholders to decide the profit of the business
is only prepared when a business is initially established
both 1 and 3.
8
Just-in-time management includes
Keeping a large inventory so goods can be delivered on time
producing goods quickly in anticipation of increased demand.
keeping minimal stock and ordering supplies prior to use
avoiding industrial action by agreeing to union demands
9
An example of legislation designed to protect both consumers and business is:
the Small Business Act.
the Consumer Affairs Act
the Broadcasting and Television Act
the Trade Practices Act
10
Equity finance is:
money obtained from a venture capitalist.
money obtained through loans
money obtained from a financial intermediary such as a bank
money obtained from the owner's personal funds

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