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Enterprise & Marketing R064 Multiple Choice 3
By Robert Appleton
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Last updated over 5 years ago
16 questions
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Question 1
1.
Which of the following is a stage of the product lifecycle?
Advertising
Competition
Growth
Recession
Question 2
2.
Which functional area is responsible for identifying the needs and wants of customers?
Finance
Human Resources
Marketing
Operation
Question 3
3.
‘Salaries’ are an example of:
Fixed cost
Profit
Sales revenue
Variable costs
Question 4
4.
Which of the following needs to be submitted to Companies House when setting up a private limited company?
Business plan
Cash flow forecast
Memorandum of Association
Taxation
Question 5
5.
Which of the following is part of the marketing mix?
Performance
Planning
Policy
Price
Question 6
6.
Which of the following sources of capital usually includes business advice from an experienced entrepreneur?
Bank loan
Business angel
Crowdfunding
Own savings
Question 7
7.
Whcih functional area is responsible for quality control?
Finance
Human Resources
Marketing
Operations
Question 8
8.
Which of the following is a benefit of limited liability for the owners of a business?
Profit must be shared equally between them
They can easily raise extra capital by issuing more shares
They must repay all the debts of the business
They will only lose the amount they invested in the business if it fails
Question 9
9.
How much profit is made if a business earns £18000 of sales revenue and its total costs are £7500?
£8000
£10500
£25500
£135000
Question 10
10.
Mayer is thinking of starting a business by buying a franchise of Perfection Pizza.
Which of the following is an advantage of starting a business by buying a franchise?
A royalty fee must be paid each year
It is more expensive than starting a completely new business
Mayer’s business will benefit from having an established brand name
Mayer can control what he sells in his business
Question 11
11.
A sole trader needs additional capital to help to set up a new business. The sole trader does not wish to pay any interest or sign a formal contract.
Which of the following sources of finance should they avoid?
Borrow money from a friend
Gift from their sister
Loan from the bank
The sole trader's own savings
Question 12
12.
Sarah runs a business selling flowers. Last week she earned £1350 of sales revenue.
If last week Sarah’s average selling price per bunch of flowers was £15, how many bunches of flowers did she sell?
9
45
90
135
Question 13
13.
Which of the following sales promotion techniques aims to reward and retain customers who have bought from the business for a long period of time?
Competitions
Loyalty schemes
New product trials
Point of sale advertising
Question 14
14.
Which of the following tasks would not be carried out by the Marketing function of a business?
Designing a market research questionnaire
Holding a focus group with customers
Logistics
Promoting a new product
Question 15
15.
A break-even graph for a product is shown below.
What is shown by the shaded area?
Break-even
Fixed costs
Loss
Profit
Question 16
16.
Which of the following does
not
affect the price set for a new service?
Availability of individuals to work for the business
Cost to deliver the service
Income levels of target customers
Price of competitor services