exam question - outcome 1

Question 1

Tess is establishing a new business that will produce organic cleaning products. As well as selling the product domestically, she hopes to export her products to Asia.

Question 2

Explain why it is important that Tess’s new business comply with legal requirements. (2 marks)

Question 3

Justify the use of one financial control system and one record-keeping strategy that would enable the success of Tess’s new business. (4 marks

Question 4

Outline two factors that Tess will need to consider when choosing appropriate suppliers.
(2 marks)

Question 5

Tess has sourced suppliers that she knows are socially responsible. Explain the benefits and limitations of Tess using suppliers which meet the corporate social responsibility objectives of her business. (4 marks)

Question 6

Explain why it will be important for Tess to establish effective policies and procedures for her business. (2 marks)

Question 7

Evaluate the costs and benefits of Tess developing contact with overseas suppliers when establishing her business. (5 marks)