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15
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Which of the following could help a business handle unexpected costs better?
Reducing the number of employees
Saving money for emergencies
Increasing prices for all customers
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baam
Lose 5 points!
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magnet
Take 20 points!
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shark
Other team loses 25 points!
Okay!
×
thief
Give points!
5
10
15
20
25
15
×
How can a business avoid the risks of giving too much credit?
Increase credit limits for everyone
Require immediate payment
Offer discounts for delayed payments
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heart
Other team wins 5 points!
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magnet
Take 10 points!
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×
gift
Win 15 points!
Okay!
×
lifesaver
Give 20 points!
Oops!
15
×
What happens if a business takes out too many loans?
Paying more in interest
Increased sales
More profits
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15
×
Why is it important for businesses to plan for the off-season?
To increase the cost of products
To avoid running into financial trouble
To make sure they earn money all year
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15
×
What can happen to a business if it overtrades?
It will never have cash flow issues
It can easily make more profits
It may spend more than it can handle leading to financial tr
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heart
Other team wins 5 points!
Oops!
×
shark
Other team loses 20 points!
Okay!
×
gift
Win 10 points!
Okay!
×
lifesaver
Give 20 points!
Oops!
15
×
What can seasonal businesses do to survive in off-seasons?
Plan carefully to manage costs
Increase their marketing budget
Stop selling products during the off-season
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15
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What is a risk of giving customers too much credit (letting them pay later)?
Customers might pay sooner than expected
The business might lose less money
The business may run out of cash if payments are delayed
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15
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What might happen if a business invests too much in fixed assets (e.g. equipment)?
It will have more cash flow
It may drain cash reserves
It will make immediate profits
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15
×
To avoid over-borrowing what could a business owner do instead of taking too many loans?
Cut employee wages
Lower product prices
Sell shares
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15
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What might happen if a business owner does not manage money properly?
They will always have enough money
They may spend more than they have leading to cash flow issu
They can easily expand their business
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15
×
What is a key part of good financial management?
Ignoring financial records
Spending as much as possible on advertising
Understanding money flow in and out of the business
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15
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Which of the following is an example of an unexpected expense?
Regular staff salaries
Routine office supplies
Emergency equipment repairs
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15
×
How can changing customer tastes affect a business?
It does not have any impact on a business
It can hurt cash flow if not adapted to
It can help increase sales
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