Begin session 7 Business environment

Which of the following is a purpose of having an organisation structure?

• To eliminate communication between departments.
• To create a more complex hierarchy without clear roles.
• To define roles and responsibilities within the organization.
• To increase the number of employees in the organization.

How can the finance function contribute to the success of an organisation?

• The finance function ensures effective resource management and supports strategic decision-making.
• The finance function manages the company's marketing strategies.
• The finance function is responsible for hiring new employees.
• The finance function focuses solely on accounting tasks.

The primary role of the finance function is to ensure the ​ ​ (a)   of the business

• solvency
• liquidity
• profitability
• growth

Match the following ethical principles to describing words/phrase

• Acting in the public interest

• Professional behaviour

• Honest

• Objectivity

• Impartial

• Integrity

• Keeping skills up to date

• Confidentiality

• Following GDPR unless specific circumsta

• Professional competence

The relationship of a bank to a business is one of an ​ (a)   ​ (b)  

• external
• stakeholder
• internal
• partner
• supplier
• competitor

Match the following business types to their definitions

• Not for profit

• Limited company

• Limited liability

• Partnership

• Shared liability

• Charity

• Unlimited liability

• Sole trader

A characteristic of a global business is?

• operating only locally
• focusing on a single market
• restricting trade to domestic products
• operations are conducted in many countries

An example of a breach of contract in business is ?

• A customer returning a defective product.
• A company increasing its prices unexpectedly.
• An employee taking a sick leave.
• A supplier failing to deliver goods on time.