Business Studies Multiple Choice Question – 9 June 2019

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

Lucy runs a business called LucyArts Ltd, selling a range of art products in Stafford.

Lucy has set some objectives for LucyArts Ltd.

Which one of the following is a non-financial objective?

Select ONE answer:

  1. Revenue maximisation
  2. Personal satisfaction
  3. Profit maximisation
  4. Improve cash flow

 

Show the workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple choice question is suitable for Business Studies KS4 & KS3 classes

The answer is 2

  1. not an objective – does not mean anything.
  2. Correct – personal satisfaction can be an objective.
  3. again not an objective – does not mean anything.
  4. improving cash flow is not an objective.

 

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Business Studies Multiple Choice Question – 8 June 2019

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

Lucy runs a business called LucyArts Ltd, selling a range of art products in Stafford.

Before the business opened she carries out primary market research.

Which ONE of the following is an example of primary market research?

Select ONE answer:

  1. Interviews with competitors
  2. Published government statistics
  3. Magazine articles
  4. Internet research

 

Show the workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple choice question is suitable for Business Studies KS4 & KS3 classes

The answer is 1

  1. Correct – interviews with competitors also direct.
  2. published statistics means that someone has already carried out the research not primary.
  3. magazine article seen by numerous people is not primary.
  4. internet research – again already collected by someone else.

 

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Business Studies Multiple Choice Question – 7 June 2019

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

Lucy runs a business called LucyArts Ltd, selling a range of art products in Stafford.

Before the business opened she carries out primary market research.

Which ONE of the following is an example of primary market research?

Select ONE answer:

  1. Focus group meetings
  2. Published government statistics
  3. Magazine articles
  4. Internet research

 

Show the workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple choice question is suitable for Business Studies KS4 & KS3 classes

The answer is 1

  1. Correct – focus groups gain information directly from the people.
  2. published statistics means that someone has already carried out the research not primary.
  3. magazine article seen by numerous people is not primary.
  4. internet research – again already collected by someone else.

 

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Business Studies Multiple Choice Question – 6 June 2019

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

 

LucyArts Ltd is an art shop in Stafford.

Which ONE of the following is a reason why Lucy set up LucyArts Ltd as a private limited company?

Select ONE answer:

  1. would have unlimited liability
  2. could guarantee that the business would make a profit
  3. would have the opportunity to raise finance by selling shares
  4. could raise money on the stock exchange

 

Show the workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple choice question is suitable for Business Studies KS4 & KS3 classes

The answer is 3

  1. becoming private gives you limited liability which is better than unlimited.
  2. does not guarantee that the business makes a profit.
  3. Correct – a private company can invite people to buy shares in the business.
  4. private limited cannot raise money on the stock exchange.

 

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Business Studies Multiple Choice Question – 5 June 2019

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

 

LucyArts Ltd is an art shop in Stafford.

Which ONE of the following is a reason why Lucy set up LucyArts Ltd as a private limited company?

Select ONE answer:

  1. would have unlimited liability
  2. could guarantee that the business would make a profit
  3. would only lose the amount she invested if the business fails
  4. could raise money on the stock exchange

 

Show the workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple choice question is suitable for Business Studies KS4 & KS3 classes

The answer is 3

  1. becoming private gives you limited liability which is better than unlimited.
  2. does not guarantee that the business makes a profit.
  3. Correct – she would only lose the amount invested so an advantage.
  4. private limited cannot raise money on the stock exchange.

 

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Business Studies Multiple Choice Question – 4 June 2019

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

 

LucyArts Ltd is an art shop in Stafford.

Which ONE of the following is a reason why Lucy set up LucyArts Ltd as a private limited company?

 

Select ONE answer:

  1. would have unlimited liability
  2. could guarantee that the business would make a profit
  3. could protect her personal possessions
  4. could raise money on the stock exchange

 

Show the workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple choice question is suitable for Business Studies KS4 & KS3 classes

The answer is 3

  1. becoming private gives you limited liability which is better than unlimited.
  2. does not guarantee that the business makes a profit.
  3. Correct – It does protect personal possessions as it is now limited.
  4. private limited cannot raise money on the stock exchange.

 

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Business Studies Multiple Choice Question – 3 June 2019

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

LucyArts Ltd is an art shop in Stafford. Every day Lucy, the owner, displays drawings in front of her shop.

Which one of the following is her reasons for doing this?

Select ONE answer:

  1. Increase variable costs
  2. Differentiate her business
  3. Improve the motivation of her workers
  4. Attract venture capital

 

Show the workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple choice question is suitable for Business Studies KS4 & KS3 classes

The answer is 2

  1. it may increase her variable cost by adding extra drawings but not guaranteed.
  2. Correct – It does make her business seem different from other businesses.
  3. it has no effect on the motivation of her workers – it could demotivate they have more to look after.
  4. no reason for attracting venture capitalists.

 

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This work is licensed under a Creative Commons Attribution 4.0 International License.