問題一覧
1
what is the primary activity?
extraction of raw materials
2
what is the secondary activity?
manufacturing of products using raw materials from primary sector
3
What is the tertiary activity?
provides services
4
What is the private sector?
Businesses that aim to make profit, small local businesses eg.electrician
5
What is Public sector?
Responsible for providing a range of public services, financed via taxation, eg. health care, education, libraries
6
What is the third sector?
Organizations that do not aim to make profit and are not government owned, Rely on donations, charities
7
What is a sole trader?
A business owned by one person
8
What is Partnership?
A business owned by 2 to 20 people
9
What is a Private limited company?
A company is a separate legal entity to the owners., shares in the business are sold to raise finance
10
What is a Public limited company?
A separate legal entity from its owners, Shares can be bought and sold via stock market
11
What is government owned type of business?
The government identify the aims and objectives of the organizations
12
What is Charity type of business?
Part of the third sector, includes voluntary and communities groups
13
What is community interest companies?
Limited companies that aim to benefit the community, social purpose
14
What is limited liability?
The business and the owner are separate, The owner of a business can only lose the money they invested in a business if it fails
15
What is unlimited liability?
The owner and the business are the same entity, The owner is personally responsible for repaying all the debts of a business
16
What is Liability?
Business owners must consider finalcial risk, Unlimited and limited liability
17
Why is the legal status significant?
Will influence on the form of ownership of the business
18
What is Founding?
Cost of setting up a business increases to the amount of legal paper work
19
Why is Control/ Decision making significant for a business?
The form of ownership chosen will influence the level of conteol the owner have.
20
What are the three businesses abjectives?
Growth, Survival, Financial
21
What are three functional areas?
Finance , Marketing, Human resources
22
What is the Functional area, Procurement responsible for?
Stock of raw materials
23
What is the Human resources respinsible for?
Training staff
24
Which of the following is an internal source of finance for a sole trader?
Savings
25
Which of the following would be classified as a corporate social responsibility activity?
Donating to charity
26
What is the correct term for an organization where all important decisions are made at the head office?
Centralised
27
Ignoring which of the following stakeholders is most likely to lead to a company being denied planning permission?
Local government
28
A utilities company fails to delete out-of-date customer records. The company appears to have broken the:
Data Protection act
29
An overdraft would be recorded in a statement of financial position as a;
short-term liability
30
Multiplying the selling price by the number of goods sold if one way to calculate:
Revenue