Business Management Past Paper Questions 2nd Bacc 2024-2025 PDF

CONTENT REVIEW QUESTIONNAIRES FOR THE 3RD PERIOD BUSINESS MANAGEMENT ACADEMIC YEAR: 2024-2025 2ND BACCALAUREATE T...

CONTENT REVIEW QUESTIONNAIRES FOR THE 3RD PERIOD BUSINESS MANAGEMENT ACADEMIC YEAR: 2024-2025 2ND BACCALAUREATE TEACHER: ARIEL TUTIVÉN TERREROS UNIT 2: HUMAN RESOURCE MANAGEMENT Read the following statement and identify if they are true or false. 1. Delegation occurs when a manager gives authority for a particular decision to someone else. The manager still holds responsibility for the outcome of that decision. (T) 2. The span of control is how many employees are directly under the authority of a particular manager. (T) 3. A level of hierarchy is a level of responsibility within a business. (T) 4. The chain of command is the formal route though which a decision must travel. (T) 5. Bureaucracy refers to rules and procedures within an organization. (T) 6. Centralization occurs when the majority of decisions are made by a small group of individuals in a senior position within the business. (T) 7. Decentralization is found where decisions are made by middle managers. Senior management is likely to retain control of key strategic decisions. (T) 8. A flat organizational structure has few levels of hierarchy and tends to have wide span of control. (T) 9. A tall structure has many levels of hierarchy and narrow spans of control leadership tends to be autocratic and decision making is centralized. (T) 10. The key functions of management are to plan, to organize, to command, to coordinate, and to control. (T) 11. A manager’s role is to plan and oversee the work of a group. In contrast, a leader’s role is to motivate and inspire. (T) 12. Autocratic leaders hold onto as much power as they can. They make all decisions and their instructions should be obeyed. (T) 13. Paternalistic leaders also have a lot of decision-making power. They have concern for their employees and instill trust and loyalty. (T) 14. A laissez-faire leadership style allows employees more freedom. Employees can set their own goals and manage problems as they see fit. (T) 15. A democratic leader will involve employees in decision-making and inform them about the issues which will affect them. (T) 16. Intrinsic motivation comes from the satisfaction of carrying out a particular activity. (T) 17. Extrinsic motivation is derived from external factors, such as money. (T) 18. Organizational culture is the attitudes, beliefs, and values of an organization. (T) 19. Power culture exists when a few individuals retain most of the power. (T) 20. In role culture, each employee has a clearly defined role and operates within a highly-controlled structure. (T) 21. In task culture, teams address specific problems within a defined time-frame. (T) 22. Person culture exists where individuals believe that they are superior to the organization and just do their own thing. (T) 23. Employee and employer representatives act on behalf of employees and employers in negotiations. (T) 24. Collective bargaining is a negotiation between employees (usually through a trade union) and their employees to agree wages and working conditions. (T) 25. Slowdowns occur when workers deliberately work less efficiently than they can. (T) 26. An overtime ban is when employees refuse to work any more than their contracted hours. (T) 27. A lock-out involves closing the business for a short time, preventing employees from working and  being paid. (T) 28. When employer and employee representatives seek help from a third party to resolve a dispute. This process is known as conciliation and arbitration. (T) 29. A no-strike agreement occurs when a trade union has agreed not to undertake industrial action unless procedural steps have first been undertaken. 30. Where one union is recognized as the only representative of employees, it is called a single-union agreement. (T) Match each theory of motivation to its description. Write the letter of the correct description next to the name of the theorist. THEORISTS DESCRIPTIONS 1. Frederick Winslow Taylor __E______ A. Focuses on a hierarchy of needs, where individuals are motivated by fulfilling physiological, safety, social, esteem, and self-actualization needs in a specific order. 2. Abraham Maslow ___A____ B. Emphasizes the role of fairness and equity in motivation, stating that employees compare their input-output ratio to others to determine their motivation level. 3. Frederick Herzberg __D_____ C. Proposes that intrinsic motivators such as autonomy, mastery, and purpose are more effective than traditional rewards like money in the modern workplace. 4. John Adams ___B____ D. Suggests that employees are motivated by factors that lead to satisfaction, such as achievement and recognition, and demotivated by factors that cause dissatisfaction, like poor working conditions. 5. Daniel Pink ___C____ E. Advocates for a scientific approach to work, where financial incentives are the primary motivator, and tasks are standardized for maximum efficiency. Draw the Maslow’s hierarchy of needs. KEY POINTS Check the case studies developed in class. Practice with additional cases like: o Happiness at work (page 140) o Get Going (page 160) UNIT 3: FINANCE AND ACCOUNTS 1. Complete the table below about jewelry production costs. OUTPUT TFC ($) TVC ($) TC ($) AC ($) 0 20000 0 20000 - 100 20000 11000 31000 310 200 20000 12500 32500 162.5 300 20000 22500 42500 141.67 400 20000 28000 48000 120 500 20000 27500 47500 95 600 20000 39400 59400 99 2. A mobile phone company sells two phone models. Model A phones each sell for $250 while Model B phones sell for $180 each. In the month of January 2012, 1000 Model A phones where sold while 1500 Model B phones were sold. Model A’s variable cost per unit was $90 and Model B’s was $70 per unit. If the total fixed costs incurred by the mobile phone company that month amounted to $10000, calculate: A) The contribution per unit for each model B) The total contribution for each model C) The profit for the mobile phone company that month. 3. Read the following problem and solve the tasks given below. XYZ Company produces and sells widgets. The selling price per widget is $60. The variable cost per widget is $40. The fixed costs for the company are $22,000. Tasks: 1) Calculate the break-even point in units. 2) Calculate the break-even point in sales dollars. 3) If the company plans to sell 1,500 widgets, calculate the margin of safety in units and in percentage. 4. Using the following data, prepare an income statement. Remember that you need to organize the accounts. REVENUE COGS OPERATING INTERESTS AND EXPENSES TAXES Revenue: $4000 Purchases: $800 Advertising: $70 Interests: $100 Opening stock: $500 Delivery: $30 Tax: $290 Closing stock: $200 Insurance: $60 Dividends: $1125 Telephone: $20 Utilities: $80 5. Match the following accounts with the proper group. Write the letter of the answer below each category. a)Cash b) creditors c) debtors d) mortgage e) share capital f) retained profit g) inventories h) banks i) short-term loan j) building k) vehicles l) land. Current Assets Fixed Assets A–C–G–H J–K–L Current Liabilities Long-term Liabilities B–I D Equity E–F 6. Organize the accounts and prepare a Balance Sheet. Note: The example below is already balanced. Remember that in the exam you may have the accounts in disorder. Consider that accounts are organized based on their liquidity.  ACCOUNTS $ Supplies $1525 Office equipment $14000 Accumulated depreciation $750 Unearned fees $2750 Accounts payable $1300 Salaries payable $175 Retained earnings $20975 Common stock $45000 Prepaid rent $2400 Prepaid insurance $4125 Accounts receivable $16450 Cash $32450 7. Calculate the annual depreciation expense using both the Straight-Line Method and the Reducing-Balance Method based on the given scenario, then answer the multiple-choice questions related to your calculations. It is mandatory to show the process. A company purchases equipment for $20,000 on January 1st. The equipment has an estimated useful life of 5 years, and the residual value is $2,000. 1) What is the annual depreciation expense using the Straight-Line Method? a) 4,000 b) 3,600 c) 3,200 d) 2,000 2) What is the correct depreciation rate using the Reducing-Balance Method? a) 36.9% b) 56.9% c) 20.3% d) 10.1% 3) Complete the Straight-line depreciation table to show the net book values over the years. Year Annual Depreciation Expense ($) Net book value ($) 0 0 20000 1 3600 16400 2 3600 12800 3 3600 9200 4 3600 5600 5 3600 2000 KEY POINT Check the key financial terms given in the glossaries. KEY TERMS Unit 3.1: Sources of Finance (pages 161 – 170) Capital expenditure Share capital Subsidies Revenue expenditure Locan capital Debt factoring Personal funds Overdrafts Leasing Retained profit Trade credit Venture capital Sale of assets Grants Business angels  Unit 3.2: Costs and revenues (pages 174 – 176) Cost Variable costs Total revenue Revenue Semi-variable costs Fixed costs Profit Direct costs Indirect costs Unit 3.3: Break-even análisis (pages 179 – 185) Contribution per unit Margin of safety Break-even chart Total contribution Target profit output Break-even quantity Unit 3.4: Final Accounts (pages 191 – 204) Profit and loss account Balance Sheet Goodwill COGS Assets Coppyright laws Gross profit Liabilities Trademark Net profit before interest and tax Working capital Depreciation Net profit before tax Net assets Straight-line depreciation Net profit after interest and tax Equity Residual value Dividends Intangible assets Net book value Retained profit Patents Reducing-balance depreciation Practice with the worksheets, assignments, and exercises.