BUSINESS LIFE CYCLE, TYPES, STRUCTURES, FUNCTIONS

The third stage of the business life cycle is

• Post Maturity

• Start up

• Growth

• Seed

Which of the following are challenges of the seed stage?

• time, energy, money

• significant outlay of costs

• creating a clear business plan

• easy to rely on income stream

The following describes which stage of the business life cycle?

during the establishment state, the business should be at the top of its industry and is considered to have matured.

• start up

• post maturity

• seed

• maturity

Which of the following is not one of the key business functions?

• Finance

• Research

• Human Resources

• Operations

Management of employees is an activity of which key business function?

• Finance

• Human Resources

• Marketing

• Operations

Which of the following would NOT be a main activity of the Marking function of a business?

• production scheduling

• pricing strategies

• research markets

• product development

The definition below describes which key business function?

Involves utilising resources from materials, equipment and technology to acquire, develop and deliver goods and services.

• Finance

• Marketing

• Human Resources

• Operations

Check all that are features of a sole trader.

• listed on the ASX

• simple to establish and easy to operate

• full control of the business and makes all the decisions

• limited liability

Which of the following is a disadvantage of a partnership

• start up costs are low

• shared responsibility

• owners are responsible for the debts of the business

• tax is on the owners income

What is the maximum number of shareholders in a private company?

• 10

• 20

• 50

• 100