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Retrieval Quiz in Business

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Retrieval Quiz in Business

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Business quiz about taxes, human resource structure and exchange rates.

Created by

Walter Villamor
Walter Villamor
Singapore

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Retrieval Quiz in Business
 

Retrieval Quiz in BusinessOnline version

Business quiz about taxes, human resource structure and exchange rates.

by Walter Villamor
1

Which specific tax must Gloria pay on the value of the profits earned by her business if she converts it into a private limited company?

2

Which of the following would be classified as a variable cost for Harry's grocery operations?

3

If the exchange rate changes from 1 CNY = 3,469 VND to 1 CNY = 3,418 VND, what is the immediate effect on Ducmart when importing sunglasses from China?

4

When Jenny looks to hire new casual staff, which document should she send to potential employees to outline the main duties and responsibilities of the role?

5

Shopwise operates as a grocery store. Which sector of the economy does this business belong to?

6

In 2024, Shopsmart had a total revenue of 4,571 million VND and a profit of 216 million VND. If variable costs were 3,110 million VND, what were the fixed costs?

7

Which of the following is the most accurate definition of a "stakeholder" for a business?

8

Mark is considering a bank loan to fund a new delivery vehicle. What is a specific disadvantage of this "Option'' compared to selling assets?

9

Which of the following would be an AO2 (Application) example of a "fringe benefit" David could offer his employees?

10

Emiko is concerned about managing her casual staff. Which of the following is a primary problem associated specifically with a "wide span of control" at Emiko's Spa?

Feedback

Do not confuse income tax (paid by individuals) with taxes paid specifically on company profits

All are common business costs, but rent, insurance, and salaries are generally fixed, whereas packaging costs change directly with the number of goods sold

Students must recognise that a lower VND requirement per 1 CNY makes the foreign goods cheaper to buy, affecting costs rather than revenue

frequently confuse a Job Description (duties of the role) with a Person Specification (skills required of the person)

While Ducmart is in the private sector (ownership), the question asks for the economic sector (activity). As a retailer providing a service, it is Tertiary.

To find the answer, students must subtract both profit and variable costs from total revenue (4,571 - 216 - 3,110). Distractor C is simply Revenue minus Profit

must distinguish between the drawbacks of different finance sources. Interest is a cost of a loan , whereas "selling shares" refers to equity and "internal finance" refers to asset sales or savings.

Do not often confuse "bonuses" (cash/wages) with "fringe benefits" (non-cash perks) . Option B is the specific applied example provided in the mark scheme for a grocery store

We frequently confuse a "wide span of control" (many subordinates per manager) with a "tall hierarchy" (many layers of management). Option A describes a tall hierarchy, while Option B correctly identifies the pressure a wide span puts on the individual manager

 
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