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1.1 Entrepreneur

Quiz by Mr S Hart

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15 questions
Show answers
  • Q1
    Which one of the following is an entrepreneurial motivation?
    Financial
    Determined
    Initiative
    Confident
    30s
  • Q2
    Which one of the following is a financial aim for a business?
    To increase revenue
    To diversify the business
    To encourage employee engagement
    To operate the business ethically
    30s
  • Q3
    Which one of the following would be a non-financial objective for a business?
    Improving its customer satisfaction ratings
    Reducing its break-even point
    Profit maximization
    Increasing sales revenue
    30s
  • Q4
    If a business is not making the expected amount of profit, the business may have to:
    Change its suppliers
    Alter its aims and objectives
    Develop external markets overseas
    Increase the wage levels of its staff
    30s
  • Q5
    Which of the following is not a business legal structure?
    Sole Trader
    Franchise
    Government
    Partnership
    30s
  • Q6
    Which one of the following is a feature that applies to a sole trader?
    The owner has unlimited liability
    The company's shares can be bought and sold on the stock exchange
    The company must have a minimum of two shareholders
    The company has a seperate legal status
    30s
  • Q7
    Which of the following is not a feature of a public limited company (PLC)?
    Limited Liability
    Directors appointed by shareholders
    Sale of shares to family and friends
    Sale of shares on the stock market
    30s
  • Q8
    Which one of the following is an advantage to an entrepreneur if she sets up her business as a private limited company?
    She will have unlimited liability
    The risk of her loosing personal assets is increased
    It will cost her less to set up compared with setting up as a sole trader
    Increases her ability to raise finance
    30s
  • Q9
    Which one of the following is an advantage of buying a franchise rather than opening up your own business?
    The franchisee has complete control over all business decisions
    The franchisee can buy supplies from any supplier
    The franchisee will receive training from the franchisor
    The franchisee will receive financial support from the franchisor
    30s
  • Q10
    Which one of the following taxes would a limited company pay on their profits?
    National Insurance
    Corporation Tax
    Excercise Duty
    Income Tax
    30s
  • Q11
    Which source of finance is available to limited companies that is not available to sole traders?
    Bank loans
    Sale of shares
    Overdraft
    Mortgage
    30s
  • Q12
    Which one of the following is a tax on profit made by a sole trader business in the UK?
    Interest
    Income tax
    VAT
    Corporation tax
    30s
  • Q13
    Which one of the following is an internal stakeholder?
    Suppliers
    Shareholders
    Employees
    Local Community
    30s
  • Q14
    Which one of the following is an external stakeholder in a business?
    Suppliers
    Employees
    Managers
    The Chief Executive Officer (CEO)
    30s
  • Q15
    What is staff motivation/retention?
    Ensuring staff are trying to retain customers so they come back
    Helping employees to retain their earnings
    Keeping staff satisfied so that they are productive and remain in the business
    Motivating staff ensuring that products are high quality so that customers return
    30s

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