Quiz
Entrepreneurship Essentials Quiz
Test your knowledge of essential entrepreneurship concepts with this engaging quiz! Dive into topics such as limited liability, payment systems, and organizational structures.
- 11 thought-provoking questions
- Multiple choice format
- Great for entrepreneurs and business students alike
What benefit does limited liability give an entrepreneur?
Protection of all personal assets .
More sales
Access to better market research
Reduced number of competitors
This term is used to describe a payment system when people get paid according to the number of units produced?
Piece rate
Time rate
Commission
Salary
Which of the following has unlimited liability?
Private limited company
Public limited company
Sole trader
Franchise
This term is used to describe what a business owes to their suppliers?
Creditors
Debtors
Current assets
Current liabilities
What is an advantage of internal recruitment
Better trained staff
Causes jealousy among staff
They knows a lot about the firm
Creates a vacancy
Which statement about organisational structures is false
A tall organisational structure has a long chain of command
A flat organisational structure has a short span of control
A centralised organisational structure is when a few people at the top of the hierarchy are making all the decisions
A tall organisational structure has slower communication
Which of the following is a economies of scale
Motivated staff
Effective communication
Less at risk
Higher quality managers
Which of the following “balance” each other in a balance sheet
Current assets and current liabilities
Net assets and total shareholder funds
Net assets and retained profit
Total shareholder funds and fixed assets
What's the difference between M commerce and E commerce
M commerce is buying goods online electronically using the internet and E commerce is buying online with an mobile phone
E commerce is buying goods online electronically using the internet and M commerce is buying online with an mobile phone
E commerce is using services online and M commerce is buying goods online
M commerce is buying goods online and E commerce is buying goods in real life
Which of the following is a short term source of finance
Family and friend loans
Crowd funding
Bank loan
Trade credit
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