Essay on Jacob Mclaren

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Words: 1450
Pages: 6
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Student Number

2008
YEAR 11
FINAL EXAMINATION

Business Studies

General Instructions

Reading time – 5 minutes
Working time – 2 hours
Write using blue or black pen
Draw diagrams using pencil
Board-approved calculators may be used
Write your Student Number at the top of this page and page 7.

Total marks – 75

Section I Pages 2 - 6
20 marks
Attempt Questions 1-20
Allow about 20 minutes for this part

Section II Pages 7 - 10
40 marks
Attempt Questions 21-24
Allow about 40 minutes for this section

Section III Page 11
20 marks
Attempt Question 25
Allow about 30 minutes for this section

Section IV Page 12
20 marks
Attempt either Question 26 or Question 27
Allow about 30 minutes for this section

Disclaimer
Every effort has been made to prepare this Examination in accordance with the Board of Studies documents. This paper does not constitute ‘advice’ nor can it be construed as an authoritative interpretation of Board of Studies intentions. No liability for any reliance use or purpose related to this paper is taken. The publisher does not accept any responsibility for accuracy of papers which have been modified.

Section I
20 marks
Attempt Questions 1-20
Allow about 20 minutes for this part

Use the Multiple Choice Answer Sheet provided.

1
Which of the following is a feature of the growth stage of a business?

(A)
There is a continual improvement in the level of working capital

(B)
The majority of businesses become private companies

(C)
Succession planning is a priority for managers

(D)
Mergers and takeovers will be very common

2
Which of the following processes are associated with the planning stage?

(A)
Programming, budgeting ,establishing objectives

(B)
Preparing, leading, organising and controlling

(C)
Planning, organising leading and controlling

(D)
Planning, goal setting, organising and monitoring

3
Potential female entrepreneurs would most likely be attracted to which of the following categories of business?

(A)
Secondary product based industries

(B)
Merchant banking

(C)
Service based industries

(D)
Consumer focussed industries

4
What would be a possible time frame for the strategic plan for a business?

(A)
Up to two years

(B)
Between 5-10 years

(C)
Less than three months

(D)
Until the next annual report

5
Which of the following actions is an example of involuntary separation?

(A)
Resignation

(B)
Retrenchment

(C)
Paternity leave

(D)
Retirement

6
What is the major task of a receiver?

(A)
Take over the business and begin voluntary cessation

(B)
Administer bankruptcy procedures

(C)
Organise the sale of assets to cover business debts

(D)
Distribute assets according to local court orders

7
A local service station sells a range of groceries as well as its core product, fuel. Its grocery prices are often 10% higher than the nearest supermarket. What is the competitive advantage that this retail outlet enjoys?

(A)
Price

(B)
Product range

(C)
Convenience

(D)
Location

8
An airline has prepared a SWOT analysis prior to its entry into the Australian market. What would be a feature that could be classified as a weakness in this analysis.

(A)
Loyal existing customer base

(B)
Possible change to government regulations

(C)
Potential increases in fuel prices

(D)
Existing equipment needs replacing

9
Which of the following business structures has limited liability?

(A)
A public corporation

(B)
A private company

(C)
A sole trader

(D)
A silent partner

10
What reward is usually associated with business ownership?

(A)
Wages

(B)
Non-monetary rewards

(C)
Interest

(D)
Profit

11
Which of the following would not be a
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