Podcast
Play an AI-generated podcast conversation about this lesson
Download our mobile app to listen on the go
Get App
Questions and Answers
What is the main purpose of setting up a business?
What is the main purpose of setting up a business?
- To create job opportunities
- To provide goods and services to the community
- To generate income and make a profit (correct)
- To contribute to economic growth
Why might a business need to raise finance?
Why might a business need to raise finance?
- To pay salaries and wages
- To provide free services to customers
- To purchase premises, equipment, and stock (correct)
- To cover marketing and advertising expenses
What is likely to happen once a business has made a profit?
What is likely to happen once a business has made a profit?
- A proportion of the profit is given to the owners (correct)
- The profit is donated to charity
- All profit is reinvested in the business
- The profit is distributed among competitors
What are some reasons a business might need to raise finance?
What are some reasons a business might need to raise finance?
Signup and view all the answers
What is the primary way a business generates income?
What is the primary way a business generates income?
Signup and view all the answers
Flashcards are hidden until you start studying
