Which business function transforms raw materials and resources into finished goods or products?
An overseas factory sells 200,000 teddy bears a year to toy stores across Australia. What type of market is the overseas factory targeting?
A business places a job vacancy advertisement on its website. Which aspect of human resource management is this an example of?
What does the expense ratio measure?
Acompany’s policy is to purchase from lowest cost suppliers regardless of their location. What is this policy an example of?
Economies of scale
Research and development
Which of the following would immediately improve the working capital of a business?
Increasing credit sales
Using sale and lease back
Preparing a cash flow statement
Repaying debt to creditors more quickly
Which of the following includes both an opportunity and a threat from a SWOT analysis?
Low interest rates and high gearing
Loyal employees and outdated technology
Excellent management and strong competition
Strong economic growth and increased tax rates
What does a critical path identify?
The lowest cost path to complete all tasks in a project
The highest cost path to complete all tasks in a project
The longest time required to complete all tasks in a project
The shortest time required to complete all tasks in a project
What is the most likely reason that a business would use price skimming?
To encourage export sales
To achieve market share quickly
To gain high profits when demand is strong
To reverse the decline stage of the product life cycle
Which of the following would improve the financial position of a business?
Lower current ratio and lower accounts receivable turnover ratio
Higher current ratio and lower accounts receivable turnover ratio
Lower current ratio and higher accounts receivable turnover ratio
Higher current ratio and higher accounts receivable turnover ratio
Sam is asked by a company to participate in a survey on home security. After a few questions, she is asked if she would like to purchase a burglar alarm from the company. What strategy is the company using?
Sugging, which is illegal
Sugging, which is legal but may be unethical
Misleading and deceptive advertising, which is illegal
Misleading and deceptive advertising, which is legal but may be unethical
A car company advertises its new luxury car as more exciting and fun to drive than its competitors’ cars. What strategy is the car company using?
Fulltime, permanent employees in Australia are generally entitled to four weeks annual leave. What is the legal basis for this?
National Employment Standards
Workplace health and safety legislation
Which of the following includes two examples of transforming resources?
Materials and energy
Information and customers
Task design and technology
Human resources and facilities
Company XYZ allocates most of its marketing budget to advertising. What approach has XYZ adopted?
Auditors have discovered that the value of legal fees paid has been included in the asset value of a new warehouse purchased by a business. What limitation of financial reports does this show?
Which of the following combinations would result in the lowest production cost per unit?
Limited customer contact, limited product variety and low volume
Limited customer contact, limited product variety and high volume
Extensive customer contact, extensive product variety and low volume
Extensive customer contact, extensive product variety and high volume
A businessis experiencing increasing costs for its stock over time. It is seeking to maximise its profit for the current financial period. Which strategy should it adopt to value its inventory?
The image on the right is an extract from the end of year marketing report for a business. Which of the following is suggested by the data?
Salesperson 1 is the least successful salesperson in the least successful region.
Salesperson 4 is the most successful salesperson in the least successful region.
Salesperson 7 is the least successful salesperson in the most successful region.
Salesperson 8 is the most successful salesperson in the most successful region.
Which of the following is an example of developmental performance management?
Reviewing the reward system for all employees
Evaluating an online payroll system for employees
Improving an individual employee’s leadership skills
Collecting data to manage the human resources function more effectively