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Business Management 2025 Exam Revision Questions with Correct Answers
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Business Management 2025 Exam Revision Questions with Correct Answers
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Business Management 2025 Exam RevisionQuestions with Correct Answers
typesAofAbusinessesAincludingAsoleAtraders,Apartnerships,AprivateAlimitedAcompanies,ApublicAlistedAcompa
nies,AsocialAenterprisesAandAgovernmentAbusinessAenterprisesA-ACORRECTAANSWERA-soleAtrader-
AAAbusinessAownedAandAoperatedAbyAoneAperson
AD-ACompleteAcontrol,ANoApartnerAdisputes,ALowAcostAofAentry
DISAD-
AUnlimitedAliabilityA(ownersAresponsibility)AforAbusinessAdebts,AIllness/holidayAmeansAhardAtoAoperate,
DifficultyAraisingAfinanceAforAexpansion
partnership-AAAbusinessAownedAandAoperatedAbyAaAminimumAofA2AandAaAmaximumAofA20Apeople.
AD-ASharesAresponsibilityAandAworkload,ABusinessAcontinuesAwhenAaApartnerAisAill,ALessAcostlyAtoAoperate
DISAD-AUnlimitedAliability,ALiabilityAforApartners'Adebts,ADisputesAbetweenApartnersAcanAoccur
privateAlistedAcompany-
AAnAincorporatedAbusinessAwhichAhasAaAminimumAofA1AandAaAmaximumAofA50Ashareholders,AwhoseAshares
AareAonlyAofferedAprivatelyAtoApeopleAwhoAtheAbusinessAwishesAtoAhaveAasAowners.
AD-
ALimitedALiabilityA(responsibleAforAdebtsAincurredAonlyAtoAextentAofAtheirAinvestment),AGrowthApotential,AE
asierAtoAraiseAcapital
DISAD-AComplexAandAexpensiveAtoAestablish,ATooAmuchAgrowthAmayAresultAinAinefficiencies
publicAlistedAcompany-
AAnAincorporatedAbusinessAwithAanAunlimitedAamountAofAshareholders,AwhoseAsharesAareAfreelyAtradedAo
nAtheAAustralianASecuritiesAExchange.
AD-
ALimitedALiabilityA(responsibleAforAdebtsAincurredAonlyAtoAextentAofAtheirAinvestment),AGrowthApotential,AE
asierAtoAraiseAcapital
DISAD-
APublicAdisclosure,AComplexAandAexpensiveAtoAestablish,ATooAmuchAgrowthAmayAresultAinAinefficiencies
socialAenterprise-
AAAbusinessAthatAproducesAgoodsAandAservicesAwithAtheAobjectiveAofAfulfillingAaAsocialAneed.
, AD-
AMeetingAaAsocialAneedAcanAencourageAcommunityAsupportAleadingAtoAanAincreaseAinAprofit,AImprovedAmo
raleAwithinAtheAbusinessAasAemployeesAvalueAtheAwork
DISAD-
ADifficultyAobtainingAcapitalAtoAstartAbusiness,ADifficultAtoAfocusAonAbothAsocialAandAfinancialAobjectives
governmentAbusinessAenterprises-AAAbusinessAthatAisAgovernmentAownedAandAoperated.
A
businessAobjectivesAincludingAtoAmakeAaAprofit,AtoAincreaseAmarketAshare,AtoAfulfilAaAmarketAand/orAsocialA
needAandAtoAmeetAshareholderAexpectationsA-ACORRECTAANSWERA-whatAareAbusinessAobjectives?
theAbroaderAaimAofAwhatAaAbusinessAisAtryingAtoAachieve,AgivingAtheAbusinessAdirection.
Vision:AWhatAtheAbusinessAwantsAtoAbecomeAinAtheAfuture
Mission:AWhatAtheAbusinessAstandsAfor,Ait'sApurposeAandAhowAitAwillAoperate
ToAmakeAaAprofit-AProfitA=ARevenueA-AExpenses
IncreaseAmarketAshare-
AMarketAshare:AisAtheAproportionAofAsalesAbelongingAtoAaAbusinessAoutAtheAtotalAsalesAinAanAindustry,Aoften
AmeasuredAasAaApercentage.
ToAfulfilAaAmarketAneed-
AAAmarketAisAaAspecificAgroupAorAindustryAthatAaAbusinessAfocusesAonAsellingAgoodsAorAservices.AThereAnee
dsAtoAbeAaAdemandAforAit
ToAfulfilAaAsocialAneed-ASocialAneedsAareAfocusedAonAtheAcommunityAandAhowAtheyAcanAbenefitAothers
ToAmeetAshareholderAexpectations-
AshareholdersAhaveAinvestedAmoneyAintoAtheAcompanyAsoAexpectAaAreturnAonAtheirAinvestmentAthroughAdi
videndsAand/orAcapitalAgains:
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