ENT202 A business is a set of activities, which leads to the manufacturing of goods or provision of services at a ______ Profit Organizing is the process of arranging and all locating work, authority, and ___ among an organization ‘s members so they can achieve the organization ‘s goals. Resources A ____ is an undertaking involving uncertainty as to the outcome Venture social venture is an undertaking by a ______ established by a social entrepreneur that seeks to provide systemic solutions to achieve a sustainable, social objective Firm or Organization _______organizations are not considered to be social ventures Government Hybrid non-profit venture recovers a portion of its costs through ____of its goods or services Sales The ___ of business or social venture covers all the activities related to production and distribution of goods and services from production to the final consumers with an aim to earn profit Scope ______refers to that part of business activities which is apprehensive with the extraction, production or fabrication of products Industry Consumer goods are produced by an industry and are consumed by the final ___ Customers Goods that are used for further production of wealth they are called producer ‘s or _____ Capital Goods ______industries extract, raise or fabricate raw materials from above or beneath surface of the earth. Extractive _____ sector is a very important component of business and it is concerned with the buying and selling of goods Commercial Buying and selling of goods within the edge of a country is called _____ Internal trade ______is usually engaged in the provision of intangible products which cannot be seen or felt Service sector The risk of damage of goods due to fire, flood, earthquake or other causes is covered by ______ Insurance _____are essentially one-time ventures who having established their autonomous enclaves, will simply act to maintain them into the indefinite future. Independents Controllers resemble _____ but are somewhat less reliable in terms of long-term commitment Independents ____ ventures tend to be loosely committed to particular ventures but dedicated to enterprising as an ongoing activity. Short-term Income seekers and players are essentially_____, willing to abandon one venture for another if better opportunities arise to increase their personal wealth or power. Opportunists The ____also has a relatively short attention span and a chronic need to explore new avenues of experience. Poet The least predictable of the entrepreneurial types in terms of his long-term commitment to venture is ______ Searchers A non-corporate business is a type of business organization that is formed without any formal ___ from an existing government Authority A type of business that is formed and owned, by one man and members of his immediate family is called ______ Sole proprietorship Partnership is defined as the ___, which subsists between persons carrying on a business in common with a view of profit Relationship ____is a legal agreement and not a legal requirement, which specifies the rights, powers and interests of the members of the partnership. Article of partnership When the general public is invited to buy shares is called______ Shares subscription Authorized capital is also known as _____or nominal capital Registered Capital ____ refers to the merging of companies to form an organized whole Amalgamation The forms of _____are broadly classified as non-corporate business and corporate business Business Ownership _______is the practice of consciously and continually shaping organizations Management ____ are accounts of individuals and firms having dealing, with a business Personal accounts The books of ______are classified into journals and ledgers Account This is the cost incurred in carrying purchased goods from the market to the company warehouse is called ______ Carriage Inwards Accruals are ____due not yet paid or income due not yet received Expenses ______involves translating the organizational objective into manpower requirements and comparing the estimated requirements with the workforce currently in existence Manpower planning What is Man-planning Both A & B. Another name for firms is Organization The organizations that are not considered to be social ventures is called Government organizations The commercial sector that is concerned with? Both A and C The services sector usually engaged in the Provision of intangible products which cannot be seen or felt The company that covers damage of goods due to fire, flood, earthquake or other causes is called Insurance Partnership is a Relationship between persons carrying on a business in common with a view of profit What is the name for the concept which involves inviting the general public to buy shares Shares subscription Another name for Authorized capital is All of the above Business ownership are classified into Corporate and non-corporate business Expenses due not yet paid or income due not yet received is called Accruals This is a written statement that outlines the duties and responsibilities of a job Job description The process of seeking and attracting job applicants with the requisite skills and abilities needed for the actualization of the organizational goals is called Recruitment Which of the following is not a method of Procurement of Personnel Advertisement An example of test taken during selection process is Both A and C The movement of labour from one geographical location to another or from one job position to the other is known as Mobility of labour The most difficult resources to manage in an organization is Human beings The administrative machinery of a state is Government In a planned economy or even in market economy the control that shapen the business activities of a country are carried out by Government The main goal of a business is Making profit Areas of Social Responsibility include all except Provision of food for everyone What is the full meaning of MNE Multinational Enterprise The following are the factors responsible for interest in international business A and B ___ may include the sending of services as well as goods to other countries Exporting One of the following is not an advantage associated with a joint venture arrangement The profit potential may be less Which of these is an example of resources All of the above An undertaking by a firm or organization established by a social entrepreneur that seeks to provide systemic solutions to achieve a sustainable, social objective is Social venture The following are forms of social ventures except Government organization There are how many types of business activities Two The industry engaged in the construction of building, canals, brides, dams, roads etc. are Constructive industries The second element that comes in the scope of business is Commerce The process of purchase of goods in huge quantity from producers and their resale to retailers is known as Wholesale trade There are how many types of external trade Two The _____ play a vital role in financing the different trade activities by funding the traders for stock holding and transportation of goods Commercial banks The scope of a business involves each sector All of the above