Alfred Ajibola
- 30th January, 2023 @ 07:33 AM
Topics in Business Studies
What is an Office? Qualities of a good office layout Small office explained with its characteristics Large office: Characteristics of large office Advantages and disadvantages of small office Advantages and disadvantages of large office Advantages and Disadvantages of Corporations Advantages and Disadvantages of Limited Liability Company Advantages and Disadvantages of Partnership Credit card and Debit card explained with their similarities and differences Business Structure: What is a business structure? Advantages and Disadvantages of Franchise What is a franchise? Types of franchise Corporation explained with its types What is Limited Liability Company? What is Partnership Business? Types of Partnership What is business studies? Concept of business Elements of Management What is Management? Importance of Management Advantages and Disadvantages of Air Transport Advantages and Disadvantages of Rail TransportAcademic Questions in Business Studies
A one-man business is termed _____.
A. Proprietorship
B. Sole Proprietorship
C. Individual Entrepreneurship
D. Sole Trader
E. All of the Above
F. None of the Above
Which of the following is not a function of the wholesaler?
A. They distribute goods
B. They store goods
C. Specialization of goods
D. They bring about price variability in goods
E. They act as shock absorbers during the movement of goods
F. Packaging of goods
A person employed by an organization to carry out the everyday duties of a typical office, and at the same time perform a couple of other functions for their company which may vary from one company to another, is termed a _____.
A. Secretary
B. Personal Assistant (P.A)
C. Secretary General
D. Clerical Staff
E. Supervisor
F. Bookkeeper
The above image best describes the _____.
A. Ledger system
B. Journal system
C. Double entry system
D. Balance sheet system
E. Principles of accounting system
F. Balanced accounting system
An accounting system focused primarily on a balanced debit and credit side is termed _____.
A. Ledger system
B. Journal system
C. Double entry system
D. Balance sheet system
E. Principle of accounting system
F. Balanced accounting system
With regards to money, which of the following statement is incorrect?
A. Money is crucial for the survival of every human being
B. Money is completely advantageous
C. Money is defined as anything that is generally accepted as a medium of exchange
D. Monopoly is said to exist when money and wealth exists in the hands of a few
E. Excess money in an economy can lead to inflation
F. When a person receives money that isn't commensurate with the job he or she had done, then that's underemployment
Which of the following statement is wrong with regards to business?
A. Business involves the exchange of something for another thing or money
B. Business is an economic activity
C. In business, profit goes beyond money
D. Businesses do not have social responsibilities to their customers
E. The exchange of services is an aspect of business
F. Businesses can be affected by government policies
Consumer _____ are the laws and methods put in place by various agencies so that consumers can enjoy maximum satisfaction on the goods they buy and services rendered to them.
Small offices are cheaper and easier to start.
One who runs a small office home office (SOHO) can dedicate enough time to their family.
Please read the concept of a small office and its characteristics here.
The processes and activities in a small office are simplier and easier to manage.
Communication is a vital part of business. This is better achieved in a small office.
Please read on the characteristics of business here.
Cost of running a small office is cheaper since each worker may perform more than one function.
Within a short period of time, workers in small offices can easily learn the skills required in running the business.
Please read how to start a home based fish farming business here.
The workers enjoy a close relationship with one another and the customers.
Salary increase can be easily discussed with the boss since small offices often lack a payment structure.
You can read on the disadvantages of money here.
In a small office, promotion may be achieved over a short period of time.
Those who work in small offices are likely to spend less time commuting to work.
Please read on the advantages and disadvantages of road transport here.
For those working from home, stress and distractions are often avoided.
Small offices provides more privacy, especially the SOHO (Small Office Home Office).
A sole proprietor owing a small office is typically his/her own boss. As a result, they report to no one.
You can read on interesting facts for students here.
Small office owners may enjoy better health since they can always accord quality time to themselves.
General office skills are easily learnt in small offices. This is true because a worker may carry out different functions, roles, duties and responsibilities.
Please read the introduction to an office and qualities of a good office layout here.
A small office cannot accommodate large number of customers in its physical location.
The workers have slim chances of furthering their career through professional trainings and refreshers courses.
You can attempt Len Academy questions and answers on various subjects here.
The workers may become unspecialized in their job since small offices lack division of labour.
Please read on the factors necessary for division of labour here.
The workers may earn little in comparison to their work output.
The office tools utilized in small offices may be limited. This is due to the small size of the office.
You read on agricultural tools and their uses here.
Favorable working policies may not be put in place in small offices.
Since small offices are often one-man business, it can become somewhat difficult expressing one's grievances against the business owner.
Please read on partnerships here.
People who worked in small offices may gain little experience for a bigger job in a large office.
Workers may not enjoy the privileges of an office leave.
Job security and pension schemes are often lacking in small offices.
You can read on people as a marketing mix here.
Appointment letters may not be given in a small office. Therefore, job details and office responsibilities are not specified.
A small office may suffer when a worker is sick, as there may be no one to cover for the sick person.
Please read on the advantages and disadvantages of large office here.
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Amazing facts in Business Studies
According to the Global Bicycle Index, Utrecht in Netherlands is the most bike-friendly city in the world
The world's 100 richest people earned enough money in 2012 to end global poverty four times over
Notable points in Business Studies
Consumer protection refers to the ways or methods through which consumers enjoy maximum satisfaction from the goods they buy and services rendered to them.
The agencies of consumer protection assists in protecting the consumer rights. These agencies may also be referred to as the organs of consumer protection. Basically, we have three of them, they are:
Government Agencies
Independent Agencies
Legislation
One of the responsibilities of the government of every nation is to set up agencies or organizations that will protect the interest of the consumers and invariably, the people.
Below are some of the government agencies of consumer protection:
Please read on the government agencies of consumer protection here