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A few short questions taken from the 2013 Leaving Certificate Business Higher Level Exam.

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Leaving Cert Business 2013

Leaving Cert Business 2013

Question 1 of 8

1

Outline two characteristics of a private limited company:

Select one or more of the following:

  • The shareholders have limited liability

  • The shareholders have unlimited liability

  • It has a separate legal existence from its owners

  • Entitled to have between 1 and 50 shareholders

  • Entitled to have between 1 and 99 shareholders

  • The company ends in the event of changes such as the death of a shareholder/director

  • The company does not end in the event of changes such as the death of a shareholder/ director. (Continuity of existence)

  • Shareholders have one vote per share at the AGM.

  • Shareholders have one vote each at the AGM

Explanation

Question 2 of 8

1

What do the letters NCA stand for?

Select one of the following:

  • National Consumer Agency

  • National Contact Authority

  • Native Control Agency

Explanation

Question 3 of 8

1

Outline two functions of the NCA.

Select one or more of the following:

  • To provide information to consumers on their rights in relation to the purchase of goods and services

  • To provide details about specific purchases made by consumers

  • To enforce the relevant consumer law and encourage compliance

  • To investigate suspected offences

  • To allow false advertising and pricing

  • To prohibit false pricing

  • To refer cases to the Director of Public Prosecutions where appropriate.

Explanation

Question 4 of 8

1

Batch Production is used when making a single, one off,
unique product

Select one of the following:

  • True

  • False

Explanation

Question 5 of 8

1

In a Hire Purchase agreement legal ownership of the good transfers to the buyer when the first installment is made.

Select one of the following:

  • True

  • False

Explanation

Question 6 of 8

1

A Cash Flow deficit can be addressed by negotiating a shorter period of credit with debtors.

Select one of the following:

  • True

  • False

Explanation

Question 7 of 8

1

A sole trader is an ownership structure that benefits from limited liability.

Select one of the following:

  • True

  • False

Explanation

Question 8 of 8

1

When a company’s equity capital is greater than its debt capital it has low gearing

Select one of the following:

  • True

  • False

Explanation

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