Business Management quick practice

Question 1 of 10

A business plan is

A. a written document setting out a business's goals and how it will achieve them B. a type of loan C. a tax return D. an advertisement

Question 2 of 10

Limited liability means that

A. owners lose all their personal property B. owners can lose only the amount they invested C. the business cannot borrow D. profits are not shared

Question 3 of 10

Corporate social responsibility means

A. a business acting ethically towards society B. maximising profit only C. avoiding tax D. cutting wages

Question 4 of 10

Penetration pricing means

A. matching rivals B. setting a high price at launch C. setting a low price to gain market share D. charging what the market can bear

Question 5 of 10

A short-term source of finance from a bank that allows withdrawals beyond the account balance is

A. an overdraft B. a debenture C. share capital D. a mortgage

Question 6 of 10

The divorce of ownership from control occurs mainly in

A. sole proprietorships B. public limited companies C. small partnerships D. family businesses

Question 7 of 10

Inviting suppliers to submit bids is called

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

Question 8 of 10

Extension strategies in the product life cycle aim to

A. raise costs B. end the product C. delay decline by renewing interest D. avoid customers

Question 9 of 10

Capacity utilisation of a factory producing 8,000 units with capacity 10,000 is

A. 80% B. 20% C. 125% D. 8%

Question 10 of 10

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

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New set of questions

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

Past questions, worked solutions and curriculum-mapped study material for JHS and SHS students and teachers in Ghana.

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