Business knowledge testing questions
1. Explain two methods of internal finance
2. Explain a benefit and a drawback of using internal finance
3. What’s trade credit?
4. Name a benefit and drawback of trade credit
5. Explain a drawback of using a bank loan as a source of funding
6. Explain how unlimited liability might affect the sources of finance available to the firm
7. What’s a business plan
8. Explain two reasons for sales forecasting
9. What’s the sales revenue formula?
10. Explain one drawback of a breakeven analysis
11. What’s the difference between profit and cash
12. Define batch production
13. Explain a benefit and drawback of flow production
14. Explain two factors affecting productivity (capital/ labour)
15. Explain the different between labour intensive and capital-intensive production
16. Identify a benefit and drawback of capacity under-utilisation
, 17. Define buffer stock
18. Explain two implications of poor stock control (too much/ too little stock)
19. Define lean production
20. Explain Kaizen
21. Explain difference between quality control and quality assurance
22. What’s TQM
23. What’s the business cycle?
24. SPICED meaning
25. Explain a benefit and drawback of inflation
26. What does PESTLE stand for?
27. What does MOPS stand for?
28. Explain perfect v monopolistic v oligopolistic competition
29. What’s Ansoff’s Matrix and the categories?
30. What’s Porter’s strategic mix and the categories?
31. What’s Boston’s Matrix and the categories?
32. Explain strategic v tactical decisions
1. Explain two methods of internal finance
2. Explain a benefit and a drawback of using internal finance
3. What’s trade credit?
4. Name a benefit and drawback of trade credit
5. Explain a drawback of using a bank loan as a source of funding
6. Explain how unlimited liability might affect the sources of finance available to the firm
7. What’s a business plan
8. Explain two reasons for sales forecasting
9. What’s the sales revenue formula?
10. Explain one drawback of a breakeven analysis
11. What’s the difference between profit and cash
12. Define batch production
13. Explain a benefit and drawback of flow production
14. Explain two factors affecting productivity (capital/ labour)
15. Explain the different between labour intensive and capital-intensive production
16. Identify a benefit and drawback of capacity under-utilisation
, 17. Define buffer stock
18. Explain two implications of poor stock control (too much/ too little stock)
19. Define lean production
20. Explain Kaizen
21. Explain difference between quality control and quality assurance
22. What’s TQM
23. What’s the business cycle?
24. SPICED meaning
25. Explain a benefit and drawback of inflation
26. What does PESTLE stand for?
27. What does MOPS stand for?
28. Explain perfect v monopolistic v oligopolistic competition
29. What’s Ansoff’s Matrix and the categories?
30. What’s Porter’s strategic mix and the categories?
31. What’s Boston’s Matrix and the categories?
32. Explain strategic v tactical decisions
