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A levels Business Studies Quiz on Business A level Quiz (BUSS2), created by m_hassell1 on 24/05/2015.

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Business A level Quiz (BUSS2)

Question 1 of 20

1

Name the Calculation for Gross Profit ?

Select one of the following:

  • Margin = Gross Profit (SP-VC) / Revenue X 100

  • Margin = Gross Profit (SP-VC) / Revenue

Explanation

Question 2 of 20

1

What is the calculation for net profit?

Select one of the following:

  • TR - (TVC+TC) / Revenue X 100

  • TR - (VC+TC) / Revenue X 100

Explanation

Question 3 of 20

1

How do you increase a businesses profitability?

Select one or more of the following:

  • Switch Suppliers

  • Sell your Assets

  • Reduce Expenses

  • BE = Profit Margin

  • Alter your Pricing Strategy

Explanation

Question 4 of 20

1

Name 4 causes of a business' failure, when cash flow issues occur

Select one or more of the following:

  • Seasonal Demand

  • Problem Child Products

  • Sales Revenue is Overestimated

  • Credit Sales

  • Stock Is all in the businesses hands

  • Too Many Staff

  • Little Profit

Explanation

Question 5 of 20

1

What is the definition of a budget? Give two benefits.

Select one of the following:

  • A Financial Plan + Motivational and Monitors a businesses progress

  • A Cash Flow Plan + Realistic Overviews and Look at a businesses inflows and outflows of cash

  • A Financial Plan + Money motivates employees

Explanation

Question 6 of 20

1

Name two drawbacks of a budget?

Select one or more of the following:

  • Start Ups lack realism (Not realistic demands)

  • Situations are always tangible

  • Unable to gather all the information from this

  • Unclear / Inaccuracies are key to business failure

Explanation

Question 7 of 20

1

What is the calculation for labour productivity?

Select one of the following:

  • LP = Actual Output (Units Produced) / Number of Employees

  • LP = Output / Number of Units Produced

Explanation

Question 8 of 20

1

What is the calculation for labour turnover?

Select one of the following:

  • LT = Number of Employees Leaving / Total Number of Employees X 100

  • LT = Number of Employees / Total Number of Employees Leaving

Explanation

Question 9 of 20

1

What is delegation?

Select one of the following:

  • The processing of tasks down the hierarchy from a manager to the shop floor

  • The processing of tasks down the hierarchy

Explanation

Question 10 of 20

1

What is the span of control?

Select one of the following:

  • The number of employees that the manager is responsible for

  • The number of employees being supervised

  • The number of employees working under the manager

Explanation

Question 11 of 20

1

Name the two hierarchy structures? How does it effect staff?

Select one or more of the following:

  • Tall + Specialises in promotions and high in opportunities, but decision making is slow

  • Flat + Quick decision makings, but hardly any opportunities to climb the hierarchy

  • High + Promotions aren't common but you have a higher wage structure

  • Low + Better Communication between staff, better relationships and a higher productivity.

Explanation

Question 12 of 20

1

Name four ways of solving cash flow issues?

Select one or more of the following:

  • Sale of Assets

  • Sale and Leaseback

  • Take Less Cash Out of The Business

  • Bank Overdraft

  • Bank Loan

  • Share Capital

  • Sale and Buyback

  • Business Investors

  • Business Angels

Explanation

Question 13 of 20

1

What is Internal Recruitment?

Select one of the following:

  • This is when existing employees apply for a job in the company they are working for

  • This is when employees recommend one of their friends for the job

Explanation

Question 14 of 20

1

What is external recruitment?

Select one of the following:

  • This is when people are gathered from outside the company, and the bosses do not know the person

  • This is when people are brought in from another country for employment in the UK

Explanation

Question 15 of 20

1

Choose two motivational theorists from this list.

Select one or more of the following:

  • Taylor - Money Motivates employees to work harder and produce more products

  • Maslow - Hierarchy of Needs - People are more satisfied when they move up the scale of employment

  • Herzberg - Hygiene V. Motivators (Money, Needs, Etc)

  • Mayo - Working in teams motivates more than money

Explanation

Question 16 of 20

1

Name the calculation for capacity utilisation?

Select one or more of the following:

  • Actual Output Per Annum / Max Output Per Annum X 100

  • Actual Output Per Annum / Output Per Annum

Explanation

Question 17 of 20

1

Name 3 impacts of under utilisation?

Select one or more of the following:

  • Higher Unit Costs

  • Lower Profits

  • Negative Image

  • Loss Of Reputation

  • Raising Finance

  • Trading Falls

Explanation

Question 18 of 20

1

What is Total Quality Management?

Select one of the following:

  • A Japanese Concept introduced to minimise waste and focus on efficiency, increases sales, and creates a USP

  • A German Concept introduced to focus on efficiency and creates a USP

  • A Chinese Concept, that minimises waste and improves your reputation

Explanation

Question 19 of 20

1

What are the downfalls of TQM?

Select one or more of the following:

  • Costs

  • Training

  • Disruption of Production

  • Too many products

  • Could lead to inaccuracies

  • Too many Staff Issues

Explanation

Question 20 of 20

1

What is customer service?

Select one of the following:

  • Giving Customers the correct service or product of high quality and enhances your reputation

  • Giving customers the service they desire to fix or mend broken items or amend services.

Explanation

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