NOUN eExams Past Questions: BUS205 - Introduction to Business

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Richtubor
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NOUN eExams Past Questions: BUS205 - Introduction to Business

Postby Richtubor » Mon Jul 15, 2019 5:50 am

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_______ researchers also gather information from a wider group of people.

*Market*

________is pooling of risk together for the benefit of those who agree to do so.

*Insurance*

______is a promise or a commitment to do or reframe from doing some specifying things in the future.

*Offer*

_______is the exchange of words between or among people in a way or manner that produces understanding.

*Cash-flow*

________ recognize opportunities where they are and they utilize them by producing product or services that will fill the vacuum identified.

*Entrepreneurs*

____ is a process of information transfer, which goes on within you as an individual.

*Interpersonal communication*

_________means something looking or resembling something.

*Quasi*

_____ hazards refer to those physical characteristics that can enhance the possibility and severity of loss from a peril.

*External*

_______ is the point reached when the money from product sales equals the costs of making and distributing the product.

*Break-even point*

__________ income is used to buy items to meet basic needs.

*Non-discretionary*

_____ is also defined as the kindness or money that has to be paid for a commodity or service.

*Price*

________is defined as “everything the customer receives that is of value in terms of a perceived want, need or problem”.

*Product*

One of the consistent characteristics of an entrepreneur is his desire for ________.

*independence*

The _____ is the total amount supplied by owner of the business.

*Capital*

The public is becoming an increasingly vocal component of the external environment of business. True or False

*True*

_______ can be measured to a certain degree of available statistics.

*Risk*

_____ said a person by his conduct or acquisance allows others to believe in a state of things and they acted to his detriment.

*Kurfi (2005)*

The whole nature of society is that the numbers of it are _____.

*Interdependent*

__________ consists of a number of firms.

*Industry*

The products of oligopolistic industries may be identical or __________.

*differentiated*

______ face a downward – sloping market demand curve and therefore have the price to fix either price or output, but not both.

*Monopolies*

______ reduces the amount of labour in the production process materials and machinery become relatively more important.

*Automation*

Many years ago, _______, in the management revolution argued that ownership had been divorce from control.

*James Bumhan*

Managers are the decision makers in an organization. True or False

*True*


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Richtubor
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Re: NOUN eExams Past Questions: BUS205 - Introduction to Business

Postby Richtubor » Mon Jul 15, 2019 5:52 am

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______ environment economy and technology has a serious effect on business.
*Natural*

The _______ environment consists of institutions and people that make up a social grouping.
*socio-cultural*

__________ environment could be looked at from the point of view of the type of leadership in the nation.
*Political*

______ need to understand the changing technological environment and how new technologies can serve human needs.
*Business men*

________ creates opportunities for a company to increase consumer satisfaction and thereby gain competitive advantage over others.
*Technology*

A prospective successful designer should have a ____ policy in place.
*Design*

A business concern cannot operate in isolation; there are forces that shape every business. True or False
*True*

____ could equally serve as assistance for business.
*Banks*

Service business provides services instead of goods to consumers. True or False
*True*

The function of _______ is for them to transport and distribute goods.
*intermediaries*

_____activities has two basic dimensions; they are classical and behavioural aspects of management.
*Business*

Business provides to the general public what we call social responsibility. True or False
*True*

__________ must be attractive.
*Packaging*

The _____ of management science can be traced back to after the Second World War.
*statutory*

_______ is what is paid in exchange for the product (goods) received or service enjoyed.
*Price*

______ is an improvement on a one man business whose chances in business are higher in terms of finance expansion, management and continuity.
*Partnership*

__________ is a means by which power is acquired, exercised and sustained.
*Information*

Partnership is not a legal entity and there liability is unlimited at a point of indebtedness.
*True*

This is a document of notice, circular, advertisement or other invitation offering the public subscription or purchase of shares or debentures of a company.
*The prospectus*

___________ is the value that products and sellers place on goods or services.
*Price*

__________ is a book in which particulars of all monies received or paid are recorded.
*Cash-book*

Intermediaries are mostly wholesalers and retailers. True or False
*True*

Social __________ is owed by individuals and not by organizations.
*Demand*

The _______ is the total amount supplied by owner of the business or owners? equity or net worth.
*Capital*

Non __________ income is used to buy items to meet basic needs.
*Used*

_________motivation also causes you to be loyal to certain shops and companies.

*Patronage*

_______is not an account itself and it is not part and parcel of the double entry system.

Trial balance

_______affects every sphere of human endeavour.

Communication

____refers to the initiative you take (as a sender) to share information, or opinions with others.

Actions

Listening is the same as being quite

true

_____ is undertaken by entrepreneur consciously and unconsciously.

Marketing research

_________ does everything for his business.

An entrepreneur

In making a design policy, the needs of the ________ should be basic.

Audience

_____ is the value that products and sellers place on goods or services.

Price

Cash account or cash book is a part of___________.

ledger

Partnership is not a legal entity and there liability is unlimited at a point of indebtedness.

True

The principal book of accounts is the ______

Ledger




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Richtubor
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Re: NOUN eExams Past Questions: BUS205 - Introduction to Business

Postby Richtubor » Mon Jul 15, 2019 5:53 am

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______ is that business that is increasing in number very Rapidly.

Service business

______ is another service area that is required to reduce the risk of trading.

Insurance

A business man may be involved in almost all the types of ____ .

business

A_________may be defined as a contingency, which may cause a loss.

peril

_______ are those features or conditions that can increase the cause of loss.

Hazards

__________ are risks which both its origin and its consequential effect is impersonal.

Fundamental risks

_____ wants to know your needs, wants, goals, values etc before they can sell their goods to you.

Business

Which does not depict the meaning of conflict?

Agreement

________benefit from business training opportunity.

Employees

_____ produce goods and services not only quality goods.

Business

Conflict has ----------consequences

Positive and Negative

Contradiction arising from differences in interests, ideas, ideologies, orientations, beliefs, perceptions or tendencies is



Conflict



_____activities has two basic dimensions; they are classical and behavioural aspects of management.





Business

__________ Consists of a number of firms.





Industry



_________ developed idea on incentive scheme.



Henry Ganth





______ is made up of trade and all activities that make trade possible.



Commerce



__________ is mostly found in retailing business.



Sole trading

Business provides to the general public, what we call _________

social responsibility

The basic thing that government gains from business is _______

Tax

A _____ person has a strong dislike for risk and as such will do everything possible to avoid the risk.

risk averse

____ is defined as an organization in which line authority, staff authority and functional authority exist together.

functional organisations

__________ type of business is the oldest type of business in Nigeria.

Sole trading

___ Partner contributes only the money needed for formation of the business or for running of the business.

Dormant

_______ Partner is that who is active in the affairs of the business but not known to the public as a partner.

A secret

Exogenous conflict, in Dahrendorf's Conflict Theory Model, is brought into the organisation from

External factors





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Richtubor
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Re: NOUN eExams Past Questions: BUS205 - Introduction to Business

Postby Richtubor » Mon Jul 15, 2019 5:54 am

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A_______ Is an association of investors who buy shares in a company for the purpose of carrying on a business.

Shareholder

The overriding concern of Karl Marx is that social conflict is an imperative route to

Development

Once each partner agrees to sign this document, it becomes a legal document that is enforceable in the __________.

court of law

An attempt to gain a view of the whole world is __

philosophy

_______ is the document that regulates the activities of the partnership business.

Article of Partnership

Partnership enjoys tax advantage.

True

Those who buy or own shares are known as __________.

shareholders

___ is a document of notice, circular, advertisement or other invitation offering the public subscription.

Prospectus

_________is a corporate body; it can sue and be sued.

Legal Entity

There are two types of joint stock Company, which are _______.

Public and private.

Businesses that change products from their original forms into more finished forms are __________

processors

The function of _________ is for them to transport and distribute goods.

intermediaries

________ business is that business that is increasing in number very Rapidly.

Service

__________ refers to the magnitude of such outcome when it occurs.

Severity





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