Which of the following statements best describes business ethics?

The application of moral ethics to business behaviour.

Define a small business ?

one that has less than 50 employees

What is a social audit?

Comprehensive report of what a business has done & is doing

What is a federal government obligation?

provisions for employee superannuation

What are the factors of the External Environment?

State of Economy, Government, Legal Issues, No. Competitors

What are the basic rights of customers?

Full disclosure of the terms of sale.

small business is important to Australia because:

employ over 50% of population & are 98% of all businesses

Define A Sole Trader:

A business owned and operated by one person

Which of the following is not a reason why businesses fail?

Lack of analysis of local government

Declaring a person is unable to pay their debts

Features of a boom include

high employment, increasing inflation, increased spending

Which are four main ethical issues which businesses face regularly? Conflict of Interest (CoI)

Communications, Fairness, Honesty, Workplace Relations & CoI

What is privatisation?

A public business enterprise entering the private sector

What are the four stages of the business cycle?

Post-maturity, maturity, growth and establishment

Some factors of the internal environment include:

legal structure, business plan, organisation and resources

Which is NOT a reason why owners find it difficult to realise what stage of the BLC they're in?

Too busy purchasing coffees for staff

What is meant by the term 'business entity'?

organisation engaged in the production of goods & services

The business has responsibilities to…

Shareholders, Managers, Employees, Consumers and Society

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Questions 32

Answers

1
Which of the following statements best describes business ethics?
Application of appropriate moral behaviours towardsethics
The application of moral ethics to business behaviour.
The application of appropriate business behaviour to ethics.
The application of ethical ethics to businessoperations.
2
Which is a pressure influencing ethical decision making?
Atmospheric pressure
Pressure from parents
Wallace
Society
3
What is a state government obligation?
parking regulations
abiding by unfair dismissal provisions
workers' compensation
Amount of refugees in an area
4
Define a small business ?
SKIP
is a company with securities owned & traded by the public
has more than 1000 stakeholders
one that has less than 50 employees
5
What is a social audit?
Investigating the company's hippiness.
A legal document describing swag.
To research the socioeconomic model & it's relevance to them
Comprehensive report of what a business has done & is doing
6
What is a federal government obligation?
The size, shape and location of business signs
provisions for employee superannuation
registration of any factories, shops and industries act
Payment of pay rolls
7
Which of the following is a key for success for a small business
Product popularity
Good staff
Flexibility
Make coin
8
What are the factors of the External Environment?
State of Economy, Government, Legal Issues, No. Competitors
Size of Business, Asset Value, Ownership, No. of Employees
Money, Buildings,Lawyers, Roads
Skin,Eyes,Tongue,Ears
9
What are the basic rights of customers?
Money back for loyal customers.
The ability to get cash back
Full disclosure of the terms of sale.
Freebies.
10
small business is important to Australia because:
employ over 50% of population & are 98% of all businesses
its the alternative thing to do
in 1987 there was 9485 small businesses so they're important
they just are
11
Define A Sole Trader:
A business structure that is owned & operated by 2-20 people
A business owned and operated by one person
Drew Bayne
An incorporated business
12
Which of the following is not a reason why businesses fail?
Failure to plan
Lack of information
Lack of analysis of local government
Lack of financial planning
13
What is bankruptcy?
Declaring a person is unable to pay their debts
The process of converting people's assets to cash
Lord Wallace
Spending too much money on maccas
14
Which of the following is an example of the primary sector?
Cat Training
Carpentry
Tourism
Fishing
15
Features of a boom include
high employment, increasing inflation, increased spending
high unemployment, decreased inflation, reduced spending
loud noises, explosions, fire and death
unlimited liability, no taxes on profits
16
Which are four main ethical issues which businesses face regularly? Conflict of Interest (CoI)
Fairness, honesty, telecommunications, CoI
CoI, Polygamy schemes, Ponzi schemes, Safety in workplace
Communications, Fairness, Honesty, Workplace Relations & CoI
Workplace Relations, Scamming, Leadership, discrepancies
17
Which of the following is an example of the tertiary sector?
Winery
Farmer
Steel worker
Doctor
18
What is privatisation?
A public business enterprise entering the private sector
The cooperation’s dad
A private company
A private business enterprise entering the public sector
19
What are the four stages of the business cycle?
Establishment, growth, maturity and recession
Post-maturity, maturity, growth and establishment
Establishment, surge, maturity and post-maturity
Plateau, maturity, growth and establishment
20
What is a reason for small business failure
Good entrepreneurial skills
Failure to plan
Too much income
Flexibility
21
Some factors of the internal environment include:
heart, lungs, brain, liver
legal structure, business plan, organisation and resources
flora and fauna
economy, government regulations, strength of competitors
22
How many owners are allowed in a partnership?
2-5 owners
2-10 owners
2-20 owners
2 only
23
Which is NOT a key for small business success?
Reputation
More employees
Flexibility
Access to information
24
Which of the following is an example of a secondary industry?
Cat Breeder
Fishing
Carpentry
Lawyer
25
What are the three levels of government that regulate businesses?
Legislative, Administrative and Executive
Community, State and Federal
Robocop
Federal, State and Local
26
What is the second phase of the business cycle?
Establishment
Growth
Maturity
Post-maturity
27
Which is NOT a reason why owners find it difficult to realise what stage of the BLC they're in?
Too involved with the day to day activities of the business
Business owner may not have enough experience
Too busy purchasing coffees for staff
Too emotionally attached to business
28
What is meant by the term 'business entity'?
I don't know
A business owned and operated by one person
is owned by 2 - 20 people with the aim of making a profit
organisation engaged in the production of goods & services
29
What is true about all business people?
They are all focused on profit
No two are identical
Everyone are friends
They are all identical
30
The business has responsibilities to…
NO-ONE
Shareholders, Managers, Employees, Consumers and Society
Laird Wallace
Managers, Children, Employees, the Environment, TNCs
31
Cox & Burton Pty Ltd. is what type of business?
Franchise Company
Partnership
Private Company
Sole Trader
32
What type of company is Gandalf Ltd?
Sole Trader
Public Company
Partnership
Private Company

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