Business Roles and Responsibilities Quiz
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Questions and Answers

Why is non-profit business activity needed?

  • To generate interest on operational activities
  • To provide goods and services that cannot be adequately provided by for-profit enterprises (correct)
  • To expand the business into new markets
  • To maximize total sales over a specific time period

    • What is the main purpose of a limited company's business operations?

  • To expand the business into new markets
  • To increase the percentage of sales that goes to profit (correct)
  • To generate interest on operational activities
  • To maximize total sales over a specific time period

    • What is the purpose of a social enterprise?

  • To generate interest on operational activities
  • To maximize total sales over a specific time period
  • To raise money for a specific cause (correct)
  • To expand the business into new markets

    • How do a business's objectives typically change over time?

    <p>They become more specific, measurable, achievable, realistic, and time-bound</p> Signup and view all the answers

    What is a potential reason for a business to share its profits?

    <p>To attract and retain talented employees</p> Signup and view all the answers

    What is a key challenge that can arise for a limited company's business operations?

    <p>Difficulty in raising capital</p> Signup and view all the answers

    What is the key role of a company director in regards to MILDLINED in business?

    <p>Providing key funding sources</p> Signup and view all the answers

    Which of the following is NOT listed as a potential disadvantage of business growth?

    <p>Franchise pre-employees</p> Signup and view all the answers

    What is the primary purpose of business objectives?

    <p>To set goals for the business</p> Signup and view all the answers

    Which of the following is NOT a type of business ownership mentioned in the text?

    <p>Owned by a cooperative</p> Signup and view all the answers

    What is the primary financial objective of a business according to the text?

    <p>Maximizing profit</p> Signup and view all the answers

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