Leaving Cert Business 2013

cian.buckley+1
Quiz by , created about 6 years ago

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

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cian.buckley+1
Created by cian.buckley+1 about 6 years ago
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Question 1

Question
Outline two characteristics of a private limited company:
Answer
  • 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

Question 2

Question
What do the letters NCA stand for?
Answer
  • National Consumer Agency
  • National Contact Authority
  • Native Control Agency

Question 3

Question
Outline two functions of the NCA.
Answer
  • 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.

Question 4

Question
Batch Production is used when making a single, one off, unique product
Answer
  • True
  • False

Question 5

Question
In a Hire Purchase agreement legal ownership of the good transfers to the buyer when the first installment is made.
Answer
  • True
  • False

Question 6

Question
A Cash Flow deficit can be addressed by negotiating a shorter period of credit with debtors.
Answer
  • True
  • False

Question 7

Question
A sole trader is an ownership structure that benefits from limited liability.
Answer
  • True
  • False

Question 8

Question
When a company’s equity capital is greater than its debt capital it has low gearing
Answer
  • True
  • False