Retrieval Quiz in Business

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Business quiz about taxes, human resource structure and exchange rates.

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Walter Villamor

Singapur

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Retrieval Quiz in Business


Retrieval Quiz in BusinessVersión en línea Business quiz about taxes, human resource structure and exchange rates. por Walter Villamor 1 Which specific tax must Gloria pay on the value of the profits earned by her business if she converts it into a private limited company? a Sales tax b Income tax c Corporation tax d Indirect tax 2 Which of the following would be classified as a variable cost for Harry's grocery operations? a Monthly shop rent b Product packaging c Business insurance d Managerial salaries 3 If the exchange rate changes from 1 CNY = 3,469 VND to 1 CNY = 3,418 VND, what is the immediate effect on Ducmart when importing sunglasses from China? a A decrease in total sales revenue b An increase in total fixed costs c A fall in the cost of imports d A decrease in export costs 4 When Jenny looks to hire new casual staff, which document should she send to potential employees to outline the main duties and responsibilities of the role? a Curriculum Vitae (CV) b Person Specification c Letter of Application d Job Description 5 Shopwise operates as a grocery store. Which sector of the economy does this business belong to? a Primary Sector b Secondary Sector c Tertiary Sector d Public Sector 6 In 2024, Shopsmart had a total revenue of 4,571 million VND and a profit of 216 million VND. If variable costs were 3,110 million VND, what were the fixed costs? a 1,461 million VND b 1,245 million VND c 4,355 million VND d 4,355 million VND 7 Which of the following is the most accurate definition of a "stakeholder" for a business? a Any person who owns shares in Ducmart b Any individual or group with an interest in the business c Only the family members who work in the shop d The government officials who collect corporation tax 8 Mark is considering a bank loan to fund a new delivery vehicle. What is a specific disadvantage of this "Option'' compared to selling assets? a It requires Thuy to sell shares to the general public. b It is an internal source of finance that reduces personal savings. c The interest payments represent an additional cost and cash outflow. d It is only appropriate if the business has no other fixed assets. 9 Which of the following would be an AO2 (Application) example of a "fringe benefit" David could offer his employees? a Higher hourly wages for working on weekends b Providing a discount on any groceries for family and friends. c A performance-based cash bonus at the end of the year. d Funding the required training for all new casual staff. 10 Emiko is concerned about managing her casual staff. Which of the following is a primary problem associated specifically with a "wide span of control" at Emiko's Spa? a Communication takes too long because there are too many layers of management. b Managers face high workloads and stress, leaving less time for staff training. c Subordinates have too little responsibility, leading to low motivation. d The business loses its separate legal identity as more staff are hired. Feedback 1 Do not confuse income tax (paid by individuals) with taxes paid specifically on company profits 2 All are common business costs, but rent, insurance, and salaries are generally fixed, whereas packaging costs change directly with the number of goods sold 3 Students must recognise that a lower VND requirement per 1 CNY makes the foreign goods cheaper to buy, affecting costs rather than revenue 4 frequently confuse a Job Description (duties of the role) with a Person Specification (skills required of the person) 5 While Ducmart is in the private sector (ownership), the question asks for the economic sector (activity). As a retailer providing a service, it is Tertiary. 6 To find the answer, students must subtract both profit and variable costs from total revenue (4,571 - 216 - 3,110). Distractor C is simply Revenue minus Profit 8 must distinguish between the drawbacks of different finance sources. Interest is a cost of a loan , whereas "selling shares" refers to equity and "internal finance" refers to asset sales or savings. 9 Do not often confuse "bonuses" (cash/wages) with "fringe benefits" (non-cash perks) . Option B is the specific applied example provided in the mark scheme for a grocery store 10 We frequently confuse a "wide span of control" (many subordinates per manager) with a "tall hierarchy" (many layers of management). Option A describes a tall hierarchy, while Option B correctly identifies the pressure a wide span puts on the individual manager

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Retrieval Quiz in Business

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Retrieval Quiz in BusinessVersión en línea

por Walter Villamor

Which specific tax must Gloria pay on the value of the profits earned by her business if she converts it into a private limited company?

Which of the following would be classified as a variable cost for Harry's grocery operations?

If the exchange rate changes from 1 CNY = 3,469 VND to 1 CNY = 3,418 VND, what is the immediate effect on Ducmart when importing sunglasses from China?

When Jenny looks to hire new casual staff, which document should she send to potential employees to outline the main duties and responsibilities of the role?

Shopwise operates as a grocery store. Which sector of the economy does this business belong to?

In 2024, Shopsmart had a total revenue of 4,571 million VND and a profit of 216 million VND. If variable costs were 3,110 million VND, what were the fixed costs?

Which of the following is the most accurate definition of a "stakeholder" for a business?

Mark is considering a bank loan to fund a new delivery vehicle. What is a specific disadvantage of this "Option'' compared to selling assets?

Which of the following would be an AO2 (Application) example of a "fringe benefit" David could offer his employees?

Emiko is concerned about managing her casual staff. Which of the following is a primary problem associated specifically with a "wide span of control" at Emiko's Spa?

Feedback