Business Management Mock 2023

WASSCE style · Study mode

Business Management Mock 2023

Question 1 of 50

A company that operates in many countries is a

A. multinational corporation B. sole trader C. co-operative D. partnership

Question 2 of 50

The internal environment of a business includes its

A. government policy B. competitors C. staff, resources and culture D. the economy

Question 3 of 50

Stakeholders of a business include

A. only competitors B. only the owners C. only the government D. employees, customers, owners and the community

Question 4 of 50

Corporate social responsibility means a business

A. avoids tax B. acts in ways that benefit society and the environment C. pollutes freely D. ignores customers

Question 5 of 50

The management function of grouping tasks and assigning resources is

A. motivating B. planning C. controlling D. organising

Question 6 of 50

Comparing actual performance with planned targets is

A. organising B. controlling C. staffing D. planning

Question 7 of 50

Directing involves

A. writing laws B. buying machines C. auditing accounts D. leading, motivating and communicating with staff

Question 8 of 50

Delegation means

A. giving authority to a subordinate to perform a task B. doing everything yourself C. firing staff D. refusing responsibility

Question 9 of 50

Communication from managers to workers is

A. downward communication B. upward communication C. horizontal communication D. grapevine

Question 10 of 50

The first step in decision making is to

A. identify the problem B. implement the solution C. evaluate results D. choose the best option

Question 11 of 50

Training done while working at the workplace is

A. on-the-job training B. off-the-job training C. induction only D. appraisal

Question 12 of 50

Performance appraisal is used to

A. evaluate employees' work and set targets B. recruit new staff C. dismiss everyone D. calculate tax

Question 13 of 50

A trade union mainly aims to

A. protect the interests of workers B. increase company profits only C. recruit managers D. set prices

Question 14 of 50

Procurement is the process of

A. acquiring goods and services for an organisation B. selling products C. hiring staff D. paying taxes

Question 15 of 50

Quality control involves

A. checking products to ensure they meet standards B. advertising C. recruiting D. paying wages

Question 16 of 50

The product life cycle stages are introduction, growth, maturity and

A. decline B. death C. restart D. launch

Question 17 of 50

Market research involves

A. collecting information about customers and competitors B. printing money C. manufacturing goods D. paying staff

Question 18 of 50

A brand is

A. a name or symbol that identifies a product B. a price C. a factory D. a tax

Question 19 of 50

After-sales service is part of

A. customer care B. production C. procurement D. accounting

Question 20 of 50

Start-up capital is

A. money needed to begin a business B. profit after one year C. a bank fee D. tax paid

Question 21 of 50

Which is a source of finance for a small business in Ghana?

A. microfinance institutions B. the Supreme Court C. the Electoral Commission D. the police

Question 22 of 50

A disadvantage of a sole proprietorship is

A. keeping all profits B. quick decisions C. unlimited liability D. personal contact with customers

Question 23 of 50

Shares of a public limited company can be

A. owned only by the government B. held by one person only C. never transferred D. sold to the public on the stock exchange

Question 24 of 50

The agreement creating a single African market is the

A. African Continental Free Trade Area (AfCFTA) B. ECOWAS Treaty of 1975 only C. OPEC D. NAFTA

Question 25 of 50

A rise in interest rates mainly affects a business through

A. more customers B. lower wages C. higher borrowing costs D. cheaper loans

Question 26 of 50

Henri Fayol is known for identifying

A. scientific management only B. the hierarchy of needs C. the functions and principles of management D. the 4Ps of marketing

Question 27 of 50

The informal channel of communication in an organisation is the

A. grapevine B. memo C. notice board D. annual report

Question 28 of 50

A valid contract requires offer, acceptance, consideration and

A. intention to create legal relations B. a lawyer C. a witness always D. a stamp

Question 29 of 50

Consideration in a contract is

A. something of value exchanged by each party B. kindness C. a gift D. thinking carefully

Question 30 of 50

A job description states

A. the duties and responsibilities of a job B. the qualities of the ideal candidate C. the salary of the manager D. the company history

Question 31 of 50

Public procurement in Ghana is regulated by the

A. Public Procurement Authority B. Ghana Revenue Authority C. Electoral Commission D. Ghana Ports and Harbours Authority

Question 32 of 50

Inviting suppliers to submit bids is called

A. tendering B. auditing C. budgeting D. franchising

Question 33 of 50

The executive summary of a business plan

A. gives a brief overview of the whole plan B. lists all expenses C. is the last financial table D. describes competitors only

Question 34 of 50

A feasibility study determines

A. whether a business idea is practical and profitable B. the colour of the logo C. staff uniforms D. office furniture

Question 35 of 50

A partnership is usually formed by

A. one person B. two to twenty people C. over 100 people only D. the government

Question 36 of 50

The payback period of a GH¢60,000 investment returning GH¢15,000 a year is

A. 4 years B. 15 years C. 6 years D. 2 years

Question 37 of 50

A public limited company raises capital by

A. borrowing from members only B. selling shares to the general public C. partners' contributions only D. government grants only

Question 38 of 50

A cooperative society is run on the principle of

A. votes by shares B. one member, one vote C. votes by age D. a single owner

Question 39 of 50

A sleeping partner

A. has unlimited liability always B. manages the business C. contributes capital but takes no part in management D. is a minor

Question 40 of 50

Laissez-faire leadership

A. relies on punishment B. uses strict control C. involves voting D. gives subordinates great freedom

Question 41 of 50

According to Maslow, the highest need is

A. safety B. self-actualisation C. esteem D. physiological

Question 42 of 50

Unity of command means that each employee

A. commands others B. has many bosses C. reports to one superior D. works alone

Question 43 of 50

Induction is

A. dismissing staff B. introducing new staff to the organisation C. promoting staff D. paying staff

Question 44 of 50

On-the-job training takes place

A. only abroad B. at a university C. at the workplace while working D. before recruitment

Question 45 of 50

Job description states

A. company profit B. the qualities of the person C. the salary of the manager D. the duties of a job

Question 46 of 50

The four Ps of marketing are product, price, promotion and

A. people B. place C. profit D. planning

Question 47 of 50

Penetration pricing is most suitable when demand is

A. price elastic B. price inelastic C. perfectly inelastic D. zero

Question 48 of 50

Net present value (NPV) of a project is positive when

A. discounted cash inflows exceed the investment B. payback is long C. profit is zero D. costs exceed revenue

Question 49 of 50

The document that governs the internal affairs of a company is the

A. memorandum of association B. articles of association C. prospectus D. certificate of incorporation

Question 50 of 50

Henri Fayol is known for

A. the hierarchy of needs B. the principles and functions of management C. scientific management time studies D. theory X and Y

Questions written by OtisamLMS in the style of the WASSCE. They are not WAEC past questions.