THIS DOCUMENT CONTAINS BSM1501 ASSESSMENT 1 SEM 2 OF 2024 EXPECTED QUESTIONS AND ANSWERS. USE IT CORRECTLY AS A GUIDE AND FOR PRACTICE TO SCORE ABOVE 80%
Started on Thursday, 22 August 2024, 6:19 PM
State Finished
Completed on Thursday, 22 August 2024, 6:42 PM
Time taken 23 mins 16 secs
Marks 12.00/15.00 OSCAR THE TUTOR
Grade 8.00 out of 10.00 (80%) oscardiura@gmail.com
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Question 1 for FAC MAC ECS DSC TAX QMI
Match the following concepts with the correct description.
Complete FIN INV BNU STA tutorials
Mark 4.00 out
of 5.00
Flag Creativity The ability to come up with new ideas or to identify new opportunities
question
Growth Knowledge that is acquired through experience
Franchising An arrangement in which an individual or business grants an independent party the right to sell the products or services of the b
Perseverance Continue with determination, despite setbacks and obstacles
Aptitude Natural born talent
Question 2 Which businesses are included in the informal sector?
Complete
Mark 1.00 out a. Businesses with more than 200 employees.
of 1.00
b. Businesses that are registered for income tax and VAT.
Flag
question c. Businesses that are not registered for income tax and VAT.
d. Businesses with 11-50 employees.
Question 3
The franchisor is a/an _______.
Complete
Mark 1.00 out
of 1.00
Flag a. intrapreneur
question
b.
small business manager
c. entrepreneur
d. corporate entrepreneur
Question 4 Which one of the following is a personal trait of an entrepreneur?
Complete
Mark 1.00 out a. Aversion to change
of 1.00
b. Dedication to the business
Flag
question c. Detachment from the business
d. Inability to take risks
Question 5 Which type of businesses provide products and services at more affordable rates for the poor and less affluent people in society?
Complete
Mark 1.00 out a. Large enterprises
of 1.00
b. Informal businesses
Flag
question c. Medium enterprises
d. Formal businesses
,Question 6 Who innovates within the franchise system?
Complete
Mark 0.00 out a. Both the franchisor and the franchisee
of 1.00
b. Franchisor
Flag
question c. Franchisee
d. A third party
Question 7
Which of the following methods can remedy an entrepreneur’s weakness?
Complete
a) Personal development
Mark 1.00 out
of 1.00 b) Attending courses
Flag c) Appointing staff and experts to compensate where needed
question
d) Staying positive
a. c, d
b.
b, c, d
c. OSCAR THE TUTOR
a, b, c
oscardiura@gmail.com
d. a, b
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for FAC MAC ECS DSC TAX QMI FIN INV BNU
STA tutorials
Question 8
The franchisee is a/an _______.
Complete
Mark 0.00 out
of 1.00
Flag a. intrapreneur
question
b. small business manager
c. entrepreneur
d.
business owner
Question 9
“Entrepreneurs know who or what their target market is; its demands and needs; and how to meet these needs profitably.” To which one of
Complete
the following management skills does this statement refer?
Mark 1.00 out
of 1.00
Flag
question a. Insight into expenditure, income, profit and loss
b. Customer service
c. Market orientation
d.
Planning an enterprise
, Question 10 What is the main difference between an entrepreneur and a small business manager?
Complete
Mark 1.00 out a. An entrepreneur takes calculated risks and is creative and innovative, while a small business manager is averse to risk, change,
of 1.00
and innovation.
Flag b. An entrepreneur works full or part-time in a lifestyle business that does not generate sufficient income to cover all living expenses,
question
while a small business manager manages an existing business or franchise without ensuring growth.
c. An entrepreneur focuses on managing an existing business or franchise, while a small business manager focuses on creating and
developing a business.
d. An entrepreneur is appointed by the owner of a small business as the manager, while a small business manager inherits or takes
over a business and runs it in the same way as the previous owner.
Question 11
What size business employs between 11 and 50 employees?
Complete
Mark 1.00 out
of 1.00
Flag a. Medium
question
b. Micro
c. Small
d. Very small
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