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FAC1502 assignment 04 sem 0.7.9.7.3.1.9.6.4.3
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MNB1501SEMESTER 1 2024
Assessment 8
Started on Wednesday, 2 May 2024, 1:40 PM
State Finished
Completed on Wednesday, 2 May 2024, 2:41 PM
Time taken 1 hours 1 min
Marks 32.00/35.00
Grade 91.43 out of 100.00
Question 1
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Question text
Which one of the following statements is incorrect?
a.
Labour also refers to the services of those who follow professions.
b.
When we refer to capital, we refer to money.
,c.
Natural resources are the raw materials in the production process.
d.
The entrepreneur is a bearer of risk.
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The correct answer is:
When we refer to capital, we refer to money.
Question 2
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Which one of the following statements is incorrect?
a.
All non-profit seeking organisations are state owned.
b.
Welfare organisations are non-profit-seeking organisations.
c.
,Society pays for the services of the South African Police Services by means of taxes.
d.
A closed corporation is a type of business organisation.
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The correct answer is:
All non-profit seeking organisations are state owned.
Question 3
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Which of the following statements are correct? An entrepreneur is someone who .....................
a pursues profit.
b accepts risk.
c makes the most of opportunities in the environment.
d combines expertise and resources to produce products and services.
, a.
ab
b.
cd
c.
bcd
d.
abcd
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The correct answer is:
abcd
Question 4
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Which of the following statements does not represent a benefit of buying an existing business?
a.
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