Tag: Profit Making

The main influences on a business’s pricing are?

Select ONE answer:

1. Place, price, promotion and product
2. Volume , variety, variation in demand and visibility
3. Costs, competitors, customers and corporate objectives
4. People, processes and physical evidence

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

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

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 3

1. Not correct
2. Not correct
3. Correct –> The main influences are costs, competitors, customers and corporate objectives (3). The concepts in 1and 4 are those of the marketing mix, while those in 2 relate to operations management.
4. Not correct

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

Alex plc is a business which accepts the needs of potential customers as the basis for its operations.

Its success is seen as being dependent on developing and marketing products that satisfy those needs.

Alex plc would be described as having?

Select ONE answer:

1. A marketing orientation
2. A sales orientation
3. A product orientation
4. A production orientation

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

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

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 1

1. Correct – A business which accepts the needs of potential customers as the basis for its operations, and whose success is seen as being dependent on developing and marketing products that satisfy those needs would be described as having a marketing orientation.
2. Not correct
3. Not correct
4. Not correct

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

Three factors have been identified as affecting the motivation of employees in Alex plc’s accounting department:

i Working conditions
ii Each employee’s relationship with Lucy, the Financial Controller
iii Challenging accounting work

Lucy would like to classify the factors according to Frederick Herzberg’s theory of hygiene factors and motivating factors.

Which of the factors are hygiene factors?

Select ONE answer:

1. i and ii only
2. ii and iii only
3. i and iii only
4. i, ii and iii

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

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

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 1

1. Correct – Working conditions and relations with the boss are both hygiene factors. Challenging work is a motivating factor.
2. Not correct
3. Not correct
4. Not correct

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

Lucy is a manager with Alex plc.

Her staff all agree that she adopts a Theory X style of management.

Which of the following statements reflects these assumptions?

a. People must be threatened with punishment if the organisation is to meet its objectives
b. The average person avoids responsibility
c. The intellectual potential of the average person is only partially utilised

Select ONE answer:

1. a and b only
2. b and c only
3. a and c only
4. a, b and c

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

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

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 1

1. Correct – As well as thinking that individuals dislike work and avoid it where possible, Statements a and b are assumptions of a manager who adopts a Theory X style of management, whilst Statement c is an assumption of a manager who adopts a Theory Y style of management.
2. Not correct
3. Not correct
4. Not correct

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