0% 0 votes, 0 avg 72 CH 1 [UNDERSTANDING NATURE OF BUSINESS QUIZ NO 2]Advertisements 1 / 27 1. If a company's goal is to maximize its profit , the aims toachieve that goal are ___ A) Vision B) Mission C) Objectives D) Strategic plan 2 / 27 2. _____ issues mission statement in which missions arestated by them. Similarly the formal goals and objectives ofan entity are stated by them. A) Employees B) Supervisors C) Non executives directors. D) Board of directors. 3 / 27 3. Along with the four factors of production_____ isconsidered as fifth factor of production as it plays a key rolein business. A) knowledge B) Education C) Machinery D) Human skills 4 / 27 4. _____are those who have interest in the business andare affected by the business. which one of the following isaccurate: A) Shareholders B) Stakeholders C) Employees D) General public 5 / 27 5. Employees, supervisors and labours are the best exampleof ________. A) Connected stakeholders B) Internal stakeholders C) External holders D) None of the above. 6 / 27 6. Shareholders are stakeholders of the company and areusually investors, seeking to earn a return on theirinvestment in the form of __ A) Interest B) Dividend C) Salary D) Revenue 7 / 27 7. Companies might issue bonds and debentures to _____ toraise funds and pay interest on them. Choose the best one. A) Customers B) Stakeholders C) Suppliers D) Lenders 8 / 27 8. Which of the following statement is correct for connectedstakeholders? A) They are decision makers B) They are the part of the permanent infrastructure of the organisation C) They are nevertheless very influential in shaping the future of the organisation and the decisions of its leaders. D) None of the above 9 / 27 9. ____ is used to categorize relevant stakeholders basedon their power or influence and level of interest in a projector entity. A) Power-interest matrix B) Interest-power matrix C) Power-influence matrix D) None of the above 10 / 27 10. Which of the following stakeholders have high power andlow Interest? A) Investors B) Shareholders C) Employee D) Government 11 / 27 11. Which of the following stakeholders have low power andlow interest? A) Managers B) General public C) Employee D) Senior executives. 12 / 27 12. For which of the following purpose a business organizationstrives by providing goods and services desired by itscustomers? A) Goal B) Objective C) Profit D) None of the above. 13 / 27 13. Which of the following does not meet the needs consumersby providing goods to the consumers? A) Business B) Services C) Shopkeepers D) None of the above 14 / 27 14. ___ are tangible Items that can be held, touched, orstored, manufactured but not traded by businessesinternationally. A) Goods B) laptops C) Machines D) None of the above 15 / 27 15. On the basis of which of the following the businesses createthe goods and services? A) Production process. B) Standard of living C) Factor of production D) Customer satisfaction 16 / 27 16. __ refers to the general level of human happinessbased on such things as life expectancy, educationalstandards, health, sanitation, and leisure time. A) Standard of living. B) Quality of life. C) Customer satisfaction. D) All of the above. 17 / 27 17. The ___________ can be measured through key variablessuch as revenue, costs and profit. A) Finances of business. B) Value of business. C) Profitability of business. D) All of the above. 18 / 27 18. Due to which of the following factor the business may incura loss by not achieving its goals? A) Employing over qualified human resources. B) Inefficient use of resources. C) Use of expensive raw material. D) All of the above. 19 / 27 19. Not all companies earn profits, but that is the risk of beingin business. There is indirect relationship between risks andprofit, the greater the risk the lower will be the profit. A) True B) False 20 / 27 20. Which of the following is referred to as Goals? A) Specific overall aims . B) General overall aims. C) Both a and b. D) None of the above. 21 / 27 21. Which of the following hierarchy should a business entityhave? A) Goals and objectives hierarchy. B) Executives and shareholders hierarchy. C) Aims and plans hierarchy. D) All of the above. 22 / 27 22. As a part of the strategic review,_______ should alwaysreconsider the purpose of the entity that they manage. A) Stakeholders. B) Management. C) Shareholders. D) All of the above. 23 / 27 23. Which of the following is not considered a factor for thebusiness to achieve and maintain profitability? A) Efficient operations. B) Ethical dealing with stakeholders. C) Efficient operations. D) None of the above. 24 / 27 24. Profit is the reward for the ______ business take inproviding products. A) Money/ exchange. B) Decisions. C) Risk. D) All of the above. 25 / 27 25. Which of the following is the purpose of an organizationand the reason for its existence? A) Vision statement. B) Mission statement. C) Vision. D) Mission. 26 / 27 26. Which of the following helps the business to create andprovide clear messaging to stakeholders? A) Vision. B) Mission statement and vision statement. C) Goals and objectives. D) None of the above. 27 / 27 27. Operational Plans and aims include: A) Overall purpose. B) Implementation targets and budgets. C) Action plans and targets. D) All of the above. Your score isThe average score is 58% 0% Restart quiz Advertisements
