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Ω Name: Teacher: Date: Class: BUSS3 Revision Quiz - Week 2 1. These are all strategic activities involved in HRM - except which one? A Employee engagement C Inventory management B Workforce planning D Recruitment & selection 2. Which of these is an external influence on a firm's marketing strategy? A Unit costs of production C Ability to develop new products B Quality of customer service D Changes in household tastes and fashions 3. Which ratios will be of most interest to a bank which has large debts owed to it by a firm? A Liquidity ratios C Profitability ratios B Financial efficiency ratios D Shareholder ratios 4. The two main parts of the equity half of the balance sheet are: A Current assets & current liabilities C Share capital & retained profits B Non-current assets and current assets D Long-term liabilities & shares 5. One of these statements about the income statement is correct - which one? A It shows the assets and liabilities at a point in time B C It measures the net cash flow of a business D It provides evidence about a firm's liquidity It helps measure the success of a business 6. Return on Capital Employed (ROCE) is also referred to as the: A Acid-test ratio C Primary efficiency ratio B Financial efficiency target D Measure of last resort Copyright tutor2u BUSS3 Revision Quiz - Week 2 www.tutor2u.net Ω -27. The current ratio is closely connected with which term / concept? A Profit centres C Long-term liquidity B Working capital D Capital structure 8. An alternative name for the term gearing is: A Capital intensity C Equity B Leverage D Liquidity 9. Which of Porter's generic strategies would be used by a small firm targeting a niche market segment? A Cost leadership C Cost leadership B Differentiation focus D Diversification 10. Which of these is an example of a quality control process at a factory? A Total quality management is applied in the C factory B Production employees work together as a team Factory manager inspects finished output D Employees take pride in their work for rejects 11. An internal influence on a firm's workforce plan would be: A An increase in unemployment C Actions of competitors B Existing skills of the workforce D Technological change 12. As a firm grows in size, what happens to its unit costs? A They will stay the same C They will always rise B They will always fall D They can rise or fall 13. An internal influence likely to affect achievement of operational objectives is: A Availability of finance for investment C Changes in legislation B An economic downturn D Actions of competitors Copyright tutor2u BUSS3 Revision Quiz - Week 2 www.tutor2u.net Ω -314. Which of these is a method of lean production? A Quality inspections C Investment appraisal B Offshoring D Time-based management 15. A firm stays in its original location even if a new location would be better. This is known as: A Location loyalty C Market myopia B Location resistance D Industrial inertia 16. The delegation of a business process to an external provider is known as: A External delegation C Offshoring B Outsourcing D Decentralisation C Advertising a new product online D Showing a new product to employees 17. Which of these is an example of test marketing? A Sending a new product to potential advertisers B Launching a new product in a limited geographical area 18. Which of these would create a one-off, but not sustainable source of finance for a firm? A Lengthening the working capital cycle C A sale and leaseback of property assets B Agreeing new long-term banking facilities D A higher profit margin through economies of scale 19. Which measure of profit is best used in the ROCE calculation? A Retained profit C Operating profit B Profit after tax D Gross profit 20. Which of these businesses pursues a strategy of cost leadership? A Burberry C Waitrose B Ryanair D Jaguar Land Rover Copyright tutor2u BUSS3 Revision Quiz - Week 2 www.tutor2u.net