Exam (elaborations)
Mnb1501 Assignment 8 semester 1 2024 questions and answers Due(29 May 2024)
- Course
- Institution
The document contains Assignment question Together with answers Distinction Guaranteed 100%
[Show more]
3 reviews
By: antonjbotes • 5 months ago
need other answers
By: mologadimmabuke • 5 months ago
By: sphesihlekunen • 5 months ago
By: movietrailers • 5 months ago
Thank you
Seller
Follow
movietrailers
Reviews received
Content preview
Started on Monday, 1 May 2024, 10:09 AMState Finished
Completed on Monday, 1 May 2024, 11:07 AM
Time taken 50 mins 12 secs
Marks 35.00/35.00
Grade 100 out of 100.00
Question 1
Incorrect
Mark 0.00 out of 1.00
Flag question
Question text
Pirates Soccer Club can be classified as a ________________.
a.
private enterprise
b.
public corporation
c.
non-profit-seeking organisation
d.
government organisation
Feedback
Your answer is correct.
The correct answer is:
private enterprise
Question 2
Correct
Mark 1.00 out of 1.00
Flag question
Question text
Transnet is an example of a ______.
a.
non-profit organisation
b.
,public corporation
c.
privately owned enterprise
d.
personal liability company
Feedback
Your answer is correct.
The correct answer is:
public corporation
Question 3
Correct
Mark 1.00 out of 1.00
Flag question
Question text
Paul was recently appointed to a sales manager position. After his promotion, he felt that his
co-workers were more distant and that he had lost some of his friends. According to Maslow’s
hierarchy of needs, Paul has a desire to satisfy his _____ needs.
a.
ego
b.
self-actualisation
c.
social
d.
physiological
Feedback
Your answer is correct.
The correct answer is:
social
Question 4
Incorrect
Mark 0.00 out of 1.00
, Flag question
Question text
Which of the following options represent characteristics that define an entrepreneur?
a. An entrepreneur starts a new venture.
b. An entrepreneur takes financial risks.
c. An entrepreneur accepts full responsibility for the outcome of the business.
d. An entrepreneur harnesses factors of production to generate products.
e. An entrepreneur consistently earns a profit.
a.
b; c; d; e
b.
a; c; d; e
c.
a; d; b; e
d.
a; b; c; d
Feedback
Your answer is correct.
An entrepreneur is a person who takes up a new venture and is willing to accept full
responsibility for the outcome. Entrepreneurs take the initiative to start new ventures and
assume financial risk in harnessing the factors of production to generate products and services
with a view of earning a profit. However, they can also incur losses if they make the wrong
decisions. (See 2.2, lesson 2.)
The correct answer is:
a; b; c; d
Question 5
Correct
Mark 1.00 out of 1.00
Flag question
Question text
Which of the following statements does not represent a benefit of buying an existing business?
, a.
It involves the continuation of a current business.
b.
Customers are familiar with the location of the business.
c.
The new owner does not inherit past liabilities.
d.
Inventory and equipment will be in place.
Feedback
Your answer is correct.
If an entrepreneur buys an existing business, he/she buys a going concern with opportunities
and problems that he/she, as the new owner, may not know about. In terms of Section 197 of
the Labour Relations Act, buying or selling a business as a going concern means that the
current employment contracts are transferred under the same conditions to the new employer.
(See 2.5.1, lesson 2.)
The correct answer is:
The new owner does not inherit past liabilities.
Question 6
Correct
Mark 1.00 out of 1.00
Flag question
Question text
Dominique started a small business that produces woollen products, such as jerseys, scarves
and socks, in Bloemfontein in the Free State. She needs to be able to position her business
holistically and know where it fits in the marketplace. Which skills does Dominique need?
a.
management skills
b.
strategic thinking skills
c.
planning skills
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller movietrailers. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $3.41. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
81113 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now