Question: The … environment is completely outside the business and cannot be controlled.
A. Micro
B. Market
C. Macro
D. Stock
The correct answer is C. Macro.
The macro environment consists of external factors such as economic conditions, political influences, and technological advancements, which businesses cannot control.
Question: The … Act requires businesses to provide detailed information about their products.
A. National Credit Act
B. Consumer Protection Act
C. Labour Relations Act
D. Basic Conditions of Employment Act
The correct answer is B. Consumer Protection Act.
This Act ensures that businesses give clear and accurate information about their products to protect consumers from misleading or unfair practices.
Question: Keeping documents neatly, in order, and in a safe place is a quality indicator of the … function.
A. Financial
B. General Management
C. Administration
D. Human Resources
The correct answer is C. Administration.
The administration function manages records and documentation, ensuring they are well-organized and easily accessible for efficient business operations.
Question: The money needed to buy a vehicle and equipment for the business is called ….
A. Current liability
B. Fixed capital
C. Working capital
D. Short-term capital
The correct answer is B. Fixed capital.
Fixed capital is the money used for long-term investments such as purchasing machinery, vehicles, and equipment necessary for business operations.
Question: The … factor affects financial matters such as interest rates and inflation.
A. Economic
B. Legal
C. Technological
D. Natural
The correct answer is A. Economic.
Economic factors, including inflation, interest rates, and exchange rates, influence financial decision-making and the overall success of a business.