General Certificate of Education Advanced Level Examination

Transcription

1 General Certificate of Education Advanced Level Examination Business Studies - Time 2 hours (01 ) Select the group which consists the important milestones in the evolution of businesses respectively. i. Barter system / Industrial revolution / Use of money / Electronic commerce ii. Self-sufficient era / Barter system / Use of money / Trade iii. Barter system /Trade / Use of money / Electronic commerce iv. Self-sufficient era / Barter system / Industrial revolution / Trade v. Barter system / Use of money / Industrial revolution / Electronic commerce (02) Following table shows some stakeholders of businesses and the reasons for their interest on businesses Stakeholders Reason for interest 1. Owners (A) Economic development 2. Managers (B) Employment opportunities 3. Government (C) Marketing strategies 4. Community (D) Profits 5. Competitors (F) Success of decisions The set of answers which gives the correct match of stakeholders and their interest on business would be A 2 B 3 C 4 D 5 E 2. 1 A 2 C 3 B 4 D 5 - E 3. 1 D 2 E 3 A 4 B 5 - C 4. 1 D 2 C 3 B 4 A 5 - D 5. 1 E 2 D 3 A 4 B 5 C (03) Column X shows some macro environmental forces and column Y Shows some variables relevant to macro environment forces. X Y A. Economic environment 01.Scarcity of raw materials / educational level / environmental pollution B. Social and cultural environment 02.Age structure / ethnic mix / household patterns C. Demographic environment 03.Personal beliefs / values / customs 04. Interest rates/ full employment / inflation 05. Family composition /Government s rules and regulations/personal beliefs Select the most suitable combination, when X and Y columns are matched accurately. 1. A 1 B 2 C 3 2. A 2 B 1 C 5 3. A 3 B 2 C 1 4. A 4 B 3 C 2 5. A 5 B 4 C 3

2 (04) A business should fulfill its social responsibilities for four main parties. Among them the social responsibilities to be fulfilled for the employees are i. Waste management / providing employment / being environmentally friendly. ii. Protecting rights / minimizing damages / fairness iii. Good industrial relationship with employees / concern about the job security / treating every one equally iv. Providing economic benefits/providing fair returns/efficient management v. Protecting rights/providing health care facilities/providing fair returns (05) Following are some taxes implemented in Sri Lanka. A. Value added tax (VAT) B. Excise duty C. Custom duty D. Capital gain tax E. Income tax F. Corporate tax Select the suitable answer when the above mentioned taxes are classified as direct & indirect taxes respectively. 1. ABC / DEF 2. ABD / CEF 3. ADE/BCF 4. CDF/ABE 5. DEF/ABC (06) Some types of business organizations and examples in respect of them are given below Business Organizations Examples A. Sole proprietorship 1. Amaya company Ltd. B. Partnerships 2. Nimal and company C. Private limited companies 3. Esala (pvt) company Ltd. D. Unlisted public limited companies 4. Peiris (PL) company Ltd. E. Listed public limited companies 5. Araliya stores Select the most suitable answer when the type of business organizations and example are matched accurately. 1. A - 2 B 5 C 4 D 1 E A - 5 B 2 C 3 D 4 E A - 2 B 3 C 4 D 5 E A - 5 B 2 C 1 D 4 E A - 5 B 2 C 3 D 1 E - 4 (07) The following are some characteristics of incorporated companies. A - Limited liability. B - No limit for maximum membership. C - Minimum membership is one. D - Minimum number of directors is two. E - Shares and debt securities can be sold to the general public F - Having legal personality G Perpetual Succession

3 Select the suitable set of answers which contains the characteristics common to both private and public limited companies. 1. A, B, C and G 2. A, C, F and G 3. A, B, F and G 4. B, C, D and F 5. C, D, E and F (08) Select the set of answers which contains environmental factors which would influence the development of entrepreneurship 1. Education level / Dedication / self-confidence / age 2. Experiences / dedication / model characters / family back ground 3. Education level / family background / dedication / legal back ground 4. Economic policies / Legal background / Infrastructure facilities / Competition 5. Parents influence / Network relationship / Model characters / Economic policies (09) "X" column shows the main financial institutions in Sri Lanka and "Y" column shows the examples for them, as given below. X Y A. Licensed commercial banks 1. National savings bank B. Licensed specialized banks 2. The finance PLC C. Registered financel companies 3. Sampath bank PLC 4. Lanka Orix finance PLC 5. State mortgage and investment bank 6. DFCC Vardana bank PLC Select the correct matching combination of "X" column and "Y" column. 1. A 1, 3 B 2, 5 C 4,6 2. A 3, 6 B 1, 5 C 2,4 3. A 1, 2 B 3,4 C 5,6 4. A 2, 3 B 4,5 C 1,6 5. A 3, 4 B 5,6 C 1,2 (10) Kapila is a businessman and he has received some cheques with the following characteristics A. The words or bearer on the cheque has been cut off. B. Two parallel lines were drawn on the face of the cheque. C. The words or bearer remains on the cheque without being cut off. D. A name of a commercial bank was written on the front side of the cheque The types of cheques in relation to the above mentioned characteristics would be. 1. Order cheque / Cheque with general crossing / Bearer cheque / Cheque with special crossing 2. Cheque with general crossing / Cheque with special crossing / Bearer cheque / Order cheque 3. Bearer cheque / Cheque with general crossing / Order cheque / Cheque with special crossing

4 4. Order cheque / Cheque with special crossing / Bearer cheque / Cheque with general crossing 5. Cheque with special crossing / Cheque with general crossing / Order cheque / Bearer cheque (11) Niroshan insuring his motor vehicle spare parts factory worth Rs.12 million with "X" and "Y" insurance companies respectively for Rs.8 million and Rs.4 million, can be referred as 1. Reinsurance 2. Under writing 3. Double insurance 4. Liability insurance 5. Assurance (12) Select the set of answers which includes the factors to be considered when selecting a medium of transport. 1. Safety / Availability / Power / Way 2. Capacity / Availability / Way / Speed 3. Cost / Safety / Capacity / Power 4. Safety / Speed / Way / Capacity 5. Capacity / Cost / Safety / Speed (13) The importance of feedback as an element of communication would be 1. To deliver the message correctly and quickly to the receiver. 2. To inform the reason to send the message. 3. To ensure that the message was received & understood. 4. To focus the attention of the receiver on the message. 5. To inform who is communicating the message. (14) Following are some barriers for the expansion of international trade. A. Language differences. B. Imposing tariff. C. Imposing economic embargos D. Import quotas. E. Cultural differences. F. Exchange control Select the group of answers which indicates the natural barriers and non-natural barriers respectively. 1. ACD / BEF 2. AE / BCDF 3. AC / BEDF 4. BEF / ACD 5. BE / ACDF (15) The process of establishing goals and objectives and determining the strategies to achieve them, by a firm is called 1. Management 2. Planning 3. Organizing

5 4. Departmentalization 5. Controlling (16) Following are the activities relevant with the process of decision making A. Selecting the best alternative B. Implementation C. Identifying the problem D. Developing alternative solutions E. Evaluating alternatives Select the answer when the above mentioned activities are arranged accurately 1. A B C D E 2. B A E D C 3. B C A E D 4. C D E A B 5. C E A B D (17) The computer technology that is used to control the amount of copies printed in a printing press would be 1. Computer aided designing (CAD) 2. Computer numerical control (CNC) 3. Critical path analysis (CPA) 4. Computer aided manufacturing (CAM) 5. Computer integrated manufacturing(cim) (18) The production layout which is arranged for the entire production process to flow in a linear manner from one work station to the next work station is known as, 1. Product layout 2. Process layout 3. Operational layout 4. Cellular layout 5. Fixed - position layout (19) Select the group of answers which only includes elements of the product mix 1. Quality / Design / Features / Brand / Package 2. Quality / Price / Discount / Features / Design 3. Design / Features / Brand / Advertising / services 4. Design / Features / Brand / Price / services 5. Brand / Package / Services / Warranty / Price (20) Following are the variables of the marketing mix and components relevant to them. Variables Components A. Product 1. Direct marketing B. Price 2. Coverage

6 C. Distribution 3. Quality D. Promotion 4. Discounts Select the answer which gives the correct matching combination. 1. A-3 B-4 C-2 D-1 2. A-1 B-2 C-3 D-4 3. A-3 B-2 C-4 D-1 4. A-4 B-3 C-1 D-2 5. A-4 B-1 C-3 D-4 (21) The concept of marketing which aims to satisfy human needs and wants and social wellbeing is known as 1. Societal marketing concept 2. Core concepts of marketing 3. Marketing concept 4. Holistic marketing concept 5. Customer concept (22) The ratio used to measure the ability of facing short term financial liabilities, by a firm would be 1. Return on investment ratio 2. Debtors turnover ratio 3. Inventory turnover ratio 4. Quick ratio 5. Debt ratio (23) The price index prepared by the Colombo Stock Exchange to show returns from share investments, both dividends and capital gains would be 1. Milanka Price Index 2. Total Returns Index 3. All Share Price Index 4. Sectorial Price Index 5. Midcap Price Index (24) Following are the activities of the employee recruitment process A. Preparing the application form B. Recognizing the factors affecting the recruitment C. Identifying the internal and external sources of recruitment D. Recognizing the vacancies E. Evaluation of the application forms F. Studying the job specifications G. Implementing the recruitment process Select the correct answer when the above activities are arranged in sequential order 1. D F B A C G E 2. A B C D F E G 3. B C A D G E F

7 4. D F B A C E G 5. G E F A B C D (25) Following are some of the factors considered in job analysis A Educational qualifications B Working hours C Professional qualifications D Tasks, duties and responsibilities E Training and experiences F Supervision and evaluation procedure G Service department H The officials to be responsible to Select the answer which includes only the factors relevant to a job description. 1. A B C D H 2. A D E F H 3. A B E F G 4. B C E F G 5. B D F G H (26) There was a two days discussion between a trade union and the management of an organization, with the aim of resolving a salary dispute. This discussion can be known as, 1. Collective agreement 2. Collective bargaining 3. Labour relations 4. Industrial peace 5. Trade union action (27) Select the answer which shows the correct sequential order of the functions of data processing. 1. Input / Classifying / Sorting / Summarizing 2. Sorting / Calculating / Output / Summarizing 3. Classifying / Sorting / Calculating / Summarizing 4. Classifying / Sorting / Calculating / Output 5. Input / Classifying / Calculating / Storing (28) Following are some information systems used in a firm and the parties who use them. Information systems Users A. Executive support systems 1. Knowledge workers B. Decision support systems 2. Data workers C. Office automation systems 3. Middle managers D. Knowledge work systems 4. Top managers

8 Select the answer which shows the correct matching combination. 1. A 4 B 2 C 3 D 1 2. A 2 B 1 C 4 D 3 3. A 1 B 2 C 3 D 4 4. A 1 B 4 C 3 D 2 5. A 4 B 3 C 2 D 1 (29) Following are the parts of a business plan and information relevant to them Parts of a business plan Information A. Executive summary 1. Positions and responsibilities B. Operational plan 2. Market segmentation C. Marketing plan 3. Fixing machinery and equipment D. Financial plan 4. Brief description about the plan E. Human resource plan 5. Fixed capital Select the correct matching combination. 1. A 2 B 3 C 1 D 4 E 5 2. A 5 B 2 C 3 D 1 E 4 3. A 3 B 4 C 5 D 2 E 1 4. A 4 B 3 C 2 D 5 E 1 5. A 1 B 3 C 4 D 5 E 2 (30) Select the main instances of preparing a business plan. 1. When starting a business / when preparing financial statements 2. When expanding a business / when consolidating business 3. When modernizing a business / when preparing financial statements 4. When consolidating business / when issuing ordinary shares 5. When acquiring a business / when recruiting the employees (31) Classify products according to usage in the following diagram. Consumer Product Materials & Parts

9 (32) Owners & employees of an organization belongs to the environment while competitors & customers belong to the..environments. (33) The government income can be classified as and., while government expenditure can be classified as.. and. as stated in the government budget. (34) Public limited companies are divided as.. and.. according to the company act No. 07 of (35) Some characteristics and skills of entrepreneurs are given below. A. Communication B. Dedication C. Management D. Co-ordination E. Self confidence F. Result oriented Fill up the following table using the above information. Skills Characteristics (36) Current deposit balances in licensed commercial banks are known as money while savings and time deposits in the licensed commercial banks and licensed specialized banks are known as. money. (37) Principles of insurance which doesn t affect life insurance are (38) The number of subordinates directly reporting to a particular manager is known as. while the principle which implies that an employee should report only to a single superior is called. (39) The production level in which a business neither yields profits or losses is called.. and it is calculated by dividing the. cost by. (40) Fulfilling the financial requirements of a business by the owners capital is known as. while collecting funds through debt capital is known as.

10 (41) Name the four main parties in which a business should be fulfills social responsibilities (42) Name four Co operative policies declared by the international co-operative alliance at the Manchester summit (43) What are the main roles played by an entrepreneur when directing business activities? (44) State the three main parties involved with a cheque (45) State the four elements of transportation (46) State four non-tariff barriers in foreign trade (47) State the main three roles of a manager according to Henry Mintzberg (48) Name the four main parts focused under the holistic marketing concept

11 3. 4. (49) The following table shows some sources of finance. Show how these financial sources can be classified by indicating the mark in relevant cages. Sources of Finance Internal External Direct Indirect Long-term Short term Issuing ordinary shares. Retained profits (50) White the used to calculate the following aspects 1. Labour Productivity 2. Labour Turnover