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Sources of finance for a private sector entity primarily include (select all that apply):
Sources of funds for private sector commonly include revenues from sales, shareholders and long-term loans. Taxpayers would not normally be thought of as a source of funds for private sector, alt-hough in recent Coronavirus times, in some countries, such as the UK, businesses have received considerable support. But that is abnormal.
Short-term sources such as overdrafts are not to be relied upon on a regular or long-term basis.
Which of the following are widely-used measures of output of a country's economy?
Gross National Product; Gross Domestic Product.
Seen by some commentators as outdated measures, although it's difficult to know what they should / would be replaced by.
'Price' and 'payment terms' are the same thing.
True or false?
An easy question.
Price is what the customer will pay for goods or services eg fifty dollars; payment terms are the ar-rangements under which you pay the price eg in advance, on delivery, 30 days, 60 days, etc.
Although this may seem rather obvious, I have encountered a surprising number of people who seem to confuse the two.
Which of the following could be described as an organisation?
All except the self-employed tutor have a social arrangement with collective goals, and controls on performance.
The self-employed tutor may have a goal, but it is not collective; is not part of a(n internal) social arrangement and controls on performance may be entirely in their own hands, or perhaps even ab-sent altogether.
An organisation is...
Social arrangement because it involves people; they have a collective goal eg to be a profitable or-ganisation; and their performance must be controlled to work towards or to achieve that goal / those goals.
