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business unit one > section a > Flashcards

section a Flashcards

1
Q

which one of the following is the definition of a stakeholder
- an individual who owns shares in the business
- an individual who has an interest int he business
- groups or individuals who have an interest in the business

A

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2
Q

which one of the following is an internal stakeholder
- employee
- customer
- shareholder
- supplier

A

1

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3
Q

which one of the following is a possible need of the shareholders of a business
- high profit levels
- high levels of pay
- prompt payment of suppliers
- low prices

A

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4
Q

a stakeholder group who have a major influence on management decisions would be considered to have which one of the following on a stakeholder map
- high degree of influence and low level of interest
- high level of interest and high degree of influence
- low level of interest and low power

A

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5
Q
  • which one of the following is an example of the government as a stakeholder
  • trade unions
  • local community
  • environmental health
  • pressure groups
A

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6
Q

what is an objective of trade unions
- fair pay of customers
- fair pay of employees
- fair return for investors

A

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7
Q

which one of the following is an example of an objective of the local community
- boycotting
- reduced noise pollution
- high returns for investors

A

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8
Q
  • which one of the following is an example of an external stakeholder
  • directors
  • potential investors
  • trade unions
  • partners
A

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9
Q

which two stakegholder groups are most likely to have conflicting objectives on wages
- shareholders and pressure groups
- shareholders and potential investors
- trade unions and shareholders

A

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10
Q

which one of the following is a positive impact a business may have on the community
- create jobs
- conflicting objectives
customer boycotts

A

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11
Q
  • statement one - internal stakeholders all have the same objectives
    statement two - the objectives of all external stakeholders conflict with those of internal stakeholders
  • false and true
  • false and false
  • true and false
  • true and true
A

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12
Q
  • which stakeholder group is most likely to be involved in conflict management
  • suppliers
  • trade unions
  • internal stakeholder
  • supervisor
A

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13
Q

what term is used to explain how subtasks are distributed amongst functional areas
- communication paths
- division of work
- span of control
- decentralised

A

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14
Q

what generic term is given to the systems put in place to aid communication between employers and employees
- chain of command
- works council
- employee representation
- trade unions

A

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15
Q

statement one - authority can be delegated
statement two - responsibility cannot be delegated
- true true
- true false
- false false
- false true

A

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16
Q

which one of the following is likely to be a financial objective of a business
- ethical
- social
- profit
- technological

A

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17
Q

which one of the following is an alternative name for the human resource function
- procurement
- production
- personnel
- provisions

A

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18
Q

which functional area is responsible for promoting the business
- sales
- marketing
- human resources
- customer services

A

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19
Q

which task is the responsibility of the procurement function?
- sourcing materials
- resolving queries
- remuneration
- customer service

A

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20
Q

which task is the responsibility of the human resources function
- sourcing materials
- resolving queries
- remuneration
- customer service

A

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21
Q

which task is the responsibility of the business support service function
- providing IT support
- resolving queries
- remuneration
- developing new products

A

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22
Q

which task is the responsibility of the customer service function
- providing IT support
- resolving queries
- remuneration
- developing new products

A

2

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23
Q

which task is the responsibility of the finance function
- administrative support
- record keeping
- converting inputs into outputs
- developing new products

A

2

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24
Q

which task is the responsibility of the operations management function
- administrative support
- record keeping
- converting inputs into outputs
- developing new products

A

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25
Q

which is possible consequence of poor interrelationships between business function
- threat of new competitors
- failure to match supple demand
- human resources take over financial control
- business meets its objectives

A

2

26
Q

which task is the responsibility of the RandD function
- administrative support
- record keeping
- converting inputs into outputs
- developing new products

A

4

27
Q

maintaining equipment is likely to be done by which functional area
- finance
- operations management
- business support services
- customer service

A

3

28
Q

which one of the following is a reason why businesses plan
- legal requirement
- guarantee survival
- avoid unnecessary risk
- meet pressure group objectives

A

3

29
Q

which one of the following is an example of were business ideas come from
- willingness to take risks
- accidental discovery
- patents
- unique selling point

A

2

30
Q

which one of the following is an internal source of finance
- mortgage
- overdrafts
- reserves
- share issue

A

3

31
Q

which one of the following is the most appropriate as a short term source of finance
- venture capital
- loans
- overdraft
- share issue

A

3

32
Q

which one of the following is not suitable source of finance for a sole trader
- venture capital
- share issue
- loans
- savings

A

2

33
Q

which one of the following source of finance dilutes the owners equity
- loans
- hire purchase
- reserves
- venture capital

A

4

34
Q

which one of the following is an appropriate long-term source of finance for a start-up business
- reserves
- venture capital
- trade credit
- overdraft

A

2

35
Q

which one of the following sources of finance is available from a bank
- trade credit
- reserves
- overdraft
- venture capital

A

3

36
Q

which one of the following sources of finance is available from a supplier
- trade credit
- reserves
- overdraft
- venture capital

A

1

37
Q

business planning should include which 2 of the following
1 identifying start-up costs
2 setting financial objectives
3 attracting potential investors
4 contacting the bank manager

  • 1 and 2
  • 2 and 3
  • 3 and 4
  • 1 and 4
A

1 - 1 and 2

38
Q

which source of finance is most appropriate for buying fuel for a delivery van
- hire purchase
- crowd funding
- credit card
- mortgage

A

3

39
Q

which one of the following would not be on a business plan
- results of market research
- cash flow statement
- required number of employees
- prioritisation of business objectives

A

2

40
Q

which one of the following may result in the demand for products or services increasing
- minimum wage increases
- interest rates rise
- income tax rises
- prices increase

A

2

41
Q

which one of the following may result in a fall in costs to a business
- ageing population
- falling competition
- interest rates
- income rise

A

3

42
Q

which one of the following is most likely to see a rise in demand following an increase in real disposable incomes
- potatoes
- restaurant meals
- toilet roll
- newspapers

A

2

43
Q

which one of the following is most likely to have an adverse effect on demand
- competition increases
- cut in income tax
- minimum wages rise
- interest rates fall

A

1

44
Q

which one of the following is most likely to decrease demand in a market?
a rise in:
- real incomes
- interest rates
- employment
- investment

A

2

45
Q

which one of the following is a non-legal implication of a business failing to meet its legal requirements
- fine
- loss of licence
- exploiting child labour
- damage to reputation

A

4

46
Q

which one of the following actions would be against labour market legislation
- dismissing a worker for incompetency
- members of trade union taking strike action
- discriminating against an application on grounds of gender

A

3

47
Q

which one of the following factors is most likely to cause a rise in costs for a soft drinks manufacturer
- lower income tax
- increased immigration
- rising interest rates
- new suppliers entering the market

A

3

48
Q

which one of the following is an example of consumer protection
- equality act
- supplier of goods and services act
- partnership act
- copyright, design and patents act

A

2

49
Q

which one of the following is an example of employer protection
- equality act
- supplier of goods and services act
- partnership act
- copyright, design and patents act

A

1

50
Q

which one of the following is an example of how a business can behave ethically as an employer
- land management
- fair price
- waste management
- fair working practices

A

4

51
Q

which one of the following is an example of corporate objective of a firm
- tactical decision making
- short term goals
- mission statements

A

4

52
Q

which one of the following is applicable to a business operating as a public limited company
- has the term LTD after their name
- shareholders have unlimited liability
- can advertise their shares for sale
- restrictions placed on who’s shares are sold to

A

3

53
Q

which one of the following is most likely advantage of setting environmental objective
- increased costs
- higher labour turnover
- improved competitiveness
- greater flexibility

A

3

54
Q

in which business form is divorce of ownership and control most likely to occur
- sole trader
- partnership
- private limited company
- public limited company

A

4

55
Q

a business has an objective to support underprivileged children. this is an example of
- profit objective
- growth objective
- survival objective
- social objective

A

2

56
Q

which two statements are correct for a public limited company
- limited liability owned by the government
- limited liability sells shares on the stock exchange
- unlimited liability owned by the government
- unlimited liability sells shares on the stock exchange

A

2

57
Q

which one of the following is an implication of limited liability
- can only sell a small product range
- must have public liability insurance
- investors personal possessions are at risk
- shareholders can only lose up to the amount invested

A

4

58
Q

which one of the following forms of business has unlimited liability
- sole trader’
- private limited company
- public limited company
- a business plan

A

1

59
Q

statement one - all new businesses will have an objective to make a profit in one year
statement two - new businesses will set a target of sufficient cash reserves in order to survive

  • true and true
  • true and false
  • false and false
  • false and true
A

4

60
Q

which one of the following is an example of a financial aim of a business
- increase provision
- offering value for money
- reduce costs
- purse an interest

A

3

61
Q

in the short term which aim is most appropriate for a start-up business
- survival
- make a profit
- increase market share
- increase provision

A

1

62
Q

statement one - to trade as a community interest group permission must be obtained from the community
- statement two - a CIC must make a legally binding promise that the company’s assets will only be used for stated social purposes
- true and true
- true and false
- false and false
- false and true

A

4

business unit one (16 decks)

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