What defines a franchise enterprise's operation?
It operates using an established business model and brand under agreement.
What does an economic system describe?
How a country organises ownership, production, and distribution of goods and services.
What does the examination require regarding franchise enterprises?
A practical example to support their description.
What factor is examined for producing benefits in a business enterprise?
Motivation is examined as a factor producing benefits.
Who manages employees in a business enterprise?
A Human Resource Manager manages employees.
How many dispute resolution methods are examined in business enterprises?
Three dispute resolution methods are examined.
What is the annual straight-line depreciation for the motor van?
$4,000 per year.
How is reducing-balance depreciation calculated for the motor van in 2017?
20% of $15,360 equals $3,072.
What is debt factoring?
A method of improving business cash flow.
When and how was the motor van purchased?
Bought on credit from Euro Motors in 2015.
What was the expected usage period for the motor van?
Five years.
How does a virtual market differ from a physical market?
A virtual market uses electronic or online channels for transactions.
What characterizes labour intensity in production?
It relies relatively heavily on labour.
What characterizes capital intensity in production?
It relies relatively heavily on capital equipment and assets.
What is a decision tree in business planning?
A planning tool to evaluate decisions and their possible outcomes.
What does the examination ask about decision trees?
To discuss their importance in business-enterprise planning.
What types of chemicals does Chikoti (Pvt) Ltd manufacture?
Agricultural and industrial chemicals.
What protective equipment does Chikoti provide to workers?
Goggles, masks, and safety shoes.
What kind of training does Chikoti provide to workers?
Continuous intensive safety training.
What does Chikoti encourage workers to do regarding accidents?
Report accidents.
What decision factors must be evaluated for developing a new plant near Rusape Dam?
Factors influencing plant location or contracting out production.
What must Chikoti comply with when locating a plant near a water source?
Government environmental regulations.
In which year did Chikoti start operations?
2014
What negative economic conditions contributed to Chikoti's sales decline?
Unemployment, inflation, and cash-flow shortages
Which government policies are linked to rising demand for Chikoti's chemicals?
Command Agriculture, ZIMASSET, and industrial recapitalisation
What does globalisation represent in the Chikoti case?
Removal of trade barriers and access to foreign markets
What is the current ratio from the statement of financial position?
2:1
How is the acid-test ratio calculated from the statement of financial position?
(Current assets minus inventory) divided by current liabilities
What were Taftan Wedding Specialists' current assets at 30 June 2016?
$10,000
What was the inventory value for Taftan Wedding Specialists at 30 June 2016?
$5,000
What were Taftan Wedding Specialists' current liabilities at 30 June 2016?
$5,000
Why did Taftan need adequate finance in 2016?
To invest in new technology and recover lost market share
What challenge did Taftan face in 2016?
Intensified competition
What does the examination require regarding new technology and finance sources?
Assessing benefits of new technology and explaining benefits of three external finance sources
Test your knowledge with 19 questions on Business Enterprise Skills.
1. What characterizes a franchise enterprise?
2. Which statement correctly distinguishes an economic system from a franchise?
Review the complete course in the revision sheet for Business Enterprise Skills.
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