35660345
Description
Quiz by Michelle Parker, updated more than 1 year ago
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Created by Michelle Parker
about 2 years ago
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Question 1
Question
Which one of the following is a method of secondary market research?
Answer
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Questionnaires
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Government Reports
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Surveys
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Focus groups
Question 2
Question
Which one of the following could be a financial objective for the owners of a small shoe retail company?
Image:
Profit (binary/octet-stream)
Answer
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Personal satisfaction
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Increases production quality
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Increased market share
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Loyal employees
Question 3
Question
Which one of the following is an external source of finance for the owner of a business?
Answer
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Bank loan
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Retained profit
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Personal savings
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Selling assets
Question 4
Question
Which functional area would be responsible for quality control?
Answer
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Marketing
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Human resources
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Production
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Administration
Question 5
Question
In February 2018 a small Kenyan shoe retail company imported 50 handbags from Italy and paid 20 Euros for them.
The exchange rate at that time was 1Euro was 124.48 Kenyan Shillings
How much did they have to pay in Kenyan Shillings for each imported handbag?
Answer
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2,489.60
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6,224.00
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24,896.00
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124,480.00
Question 6
Question
Link to the previous question
If the exchange rate changed to 1 euro =117.79 Kenyan shillings
What effect would this change have on the cost of an imported handbag?
Answer
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Import costs wold be unchanged
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Net cash flow would improve
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The price of the handbags in euros would rise
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The cost of importing a handbag would fall
Question 7
Question
Which of the following is an external source of finance?
Answer
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Retained profit
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Selling assets
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Sales revenue
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Share capital
Question 8
Question
Which one of the following could be used to gather data for a business?
Answer
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Market research
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Market orientation
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Market segmentation
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Market place
Question 9
Question
In a break-even graph, the break-even point is when:
Answer
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total costs and fixed costs are the same
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fixed costs and variable costs are the same
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total costs and revenue are the same
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fixed costs and revenue are the same
Question 10
Question
Which of the following is an element of the marketing mix?
Answer
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Pay
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Price
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Profit
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Productivity
Question 11
Question
Which of the following terms describes a situation where a worker is given the authority to carry out a task that a manager would normally do?
Answer
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Job rotation
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Job share
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Part-time employment
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Delegation
Question 12
Question
Which of the following could be a non-financial objective for the owner of a business?
Answer
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Improved chance of survival
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increased market share
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Personal satisfaction
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Increased profit
Question 13
Question
Which of the following is a measure of the liquidity of a business?
Answer
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Net cash flow
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Profit
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Revenue
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Total costs
Question 14
Question
Which of the following is a reason why a business would advertise its products?
Answer
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To shorten the product life cycle
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To create customer loyalty
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To identify gaps in the market
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To create employment
Question 15
Question
Which of the following describes a person who pays to use another business’s products and branding?
Answer
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Franchisor
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Entrepreneur
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Franchisee
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Shareholder
Question 16
Question
Which one of the following is an internal source of finance that could be used by a company?
Answer
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Crowdfunding
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Venture capital
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Selling assets
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Personal savings
Question 17
Question
Which one of the following is an example of an external economy of scale?
Answer
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Bulk buying of raw materials
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Employing specialist workers
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Purchasing more productive machinery
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Improving infrastructure
Question 18
Question
The cost of manufacturing an iPod nano 6 is estimated to be US$45.
If Apple used a mark-up of 200%, identify the selling price of an iPod nano 6.
Answer
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US$ 90
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US$ 135
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US$ 170
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US$245
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