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Multiple Choice Answers 2011 Business Studies (1 Viewer)

Swazz

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NOTE: I certify that almost ALL of these are correct. If there is anything blatantly wrong, let me know and I will consider/sort it out.

1. (D) Designer Jewellery is a niche market, most likely to be distributed in low volumes at high prices EXCLUSIVELY.

2. (B) Lockout is overt (visible) by employers

3. (D) FDI is the opening up of a factory in China (part ownership, strategic alliance OR establishing new business through a joint venture)

4. (C) Flat Structures is when middle managers are removed.

5. (C) G.Procedures to solve conflict according to POLICY (but primarily for Workers and Managers, but other options wrong.)

6. (B) Job sharing is an e.g. of Flexibile working conditions and work/life balance is a social influence.

7. (A) Differentiation (pizza sizes and toppings changing for each country)

8. (C) Corporate raiders are those involved in takeovers

9. (D) An Appreciation of the $A is an external Opportunity for Importers as it allows for cheaper imports

10. (C) Classical uses division of labour- improves productivity as workers are specialised at their tasks, maximising output.

11. (A) Decisional involves overseeing efficient resource allocation (with three staff redundant due to high expenses).

12. (B) 97:92 Gearing (Solvency) ratio and 1.25:1 Current Ratio HENCE better solvency (closer to 60%-100%) BUT poorer liquidity (need a 2:1)

13. (C) Intellectual property is a specific Legal Influence

14. (D) Casual have no entitlements or holidays. Full-time >20hrs (35-40 usually) so Permanent PART-TIME

15. (A) Riccardo's theory; Comparative Advantage highlights how protection helps to protect local jobs and industries.

16. (B) EEO (issue; Anti-Disc is a legislation deal with the issue of EEO & Indirect discrimination) is being ADDRESSED by Riley.

17. (D) RBA oversees financial stability. Very basic definition from economic standpoint, but does the trick.

18. (A) Common Law = Legal framework setting out responsibilities of both employers and employees.
FWA covers the 10 NES and revolves around flexibility from employers (no unfair dismissals etc).

19. (B/D) --> BOS will find this a debated question in marking centre.
Cash flow SHOWS components such as Receivables. It ONLY ADDRESSES LIQUIDITY. (current ratio SHOWS liquidity)
Working capital (liquidity) management is separate to Cash flow management (which focuses on discounts for early repayments of Receivables).

20. (A) E-commerce is a social responisbility that involves ensuring secure payment options and privacy for customers.

Any questions or queries regarding these answers; ask me and I shall clarify.
If you want some closure on short answers or the Section III and IV, give me the question/what you remember and I will tell you what you needed.

"PLC are shit." Board of Studies Examination Committe 2010-11
 
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Exotic

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Does anyone have the questions directly from the paper? I dont really remember what the questions were for the those where only the correct answer has been provided without explanation.
 

Swazz

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Does anyone have the questions directly from the paper? I dont really remember what the questions were for the those where only the correct answer has been provided without explanation.
I have provided explanations for each question.
To write the questions out would take too long.
If you want to know about a particular question, point it out to me. Also, did you not keep the test paper after the exam ?
 

Exotic

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I have provided explanations for each question.
To write the questions out would take too long.
If you want to know about a particular question, point it out to me. Also, did you not keep the test paper after the exam ?
Supervisors never allowed us to take the papers with us. Apparently were not allowed to take any paper out of the exam room/hall/whatever.
Ok, i didnt see that you edited the post. Thanks a lot for that :) Btw, for Q19, is that the question asking what does a cash flow statement show? I chose liquidity and asked my teacher and he confirmed it. Im kind of confused now lol. And about Q6, was the family-friendly model a possible answer? Because I chose that as well.
 

Swazz

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Supervisors never allowed us to take the papers with us. Apparently were not allowed to take any paper out of the exam room/hall/whatever.
Ok, i didnt see that you edited the post. Thanks a lot for that :) Btw, for Q19, is that the question asking what does a cash flow statement show? I chose liquidity and asked my teacher and he confirmed it. Im kind of confused now lol. And about Q6, was the family-friendly model a possible answer? Because I chose that as well.
Question 19: A cash flow statement typically consists of cash inflows (sales, acc recievables) and outflows (wages, repayments)
The question asks what it shows- this can either indicate what components are shown on the statement or (less likely and so not best answer) what it addresses- liquidity.
NOTE however that cash flow management is separate to working capital (liquidity) management in the sense that cash flow particularly revolves around discounts for early payments (receivables) and control of operational and financial flows.

Q6: I don't quite understand. The question asked what job sharing is an example of....not what another flexible work condition is. I'm sure you selected Flexible working conditions responding to a social influence (B).

Hope that clarifies,
 

jgalpin

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The answer for Question 19 is Liquidity, the answer WOULD be receivables if it was in the context of "Which of the following is in a cash flow statement". Your terms of 'Addressing' liquidity is wrong, the main idea behind a cash flow statement displays inflows and outflows on a SHORT basis, hence liquidity. I have had this confirmed with 3 teachers.
 

Swazz

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The answer for Question 19 is Liquidity, the answer WOULD be receivables if it was in the context of "Which of the following is in a cash flow statement". Your terms of 'Addressing' liquidity is wrong, the main idea behind a cash flow statement displays inflows and outflows on a SHORT basis, hence liquidity. I have had this confirmed with 3 teachers.
Liquidity cannot be assessed through examining just cash inflows and cash outflows on a statement. Liquidity can however be achieved through controlling the components on a cash flow statement (hence is a tool to address liquidity). To find liquidity, you would need to use the CURRENT Ratio (Current Assets: Current Receivables).

This question actually resembles a past HSC question that asks what a Balance sheet shows: the answer was intangibles, despite Return on Owner's equity being given as an option. Thus, the component is needed, rather than the calculations that result from examining the statement (the option requires both net profit and OE, but it's the return on OE formula that provides us with the figure).

I have had this confirmed with 3 teachers.
Same.
 
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friend177

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Q19 is LIQUIDiTY. I've seen this question in a past papers before. That is why I'm 100% sure it's liquidity. Look at one of my previous post I've wrote the question and answer out from excel success book the one with all past papers
 

Swazz

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Q19 is LIQUIDiTY. I've seen this question in a past papers before. That is why I'm 100% sure it's liquidity. Look at one of my previous post I've wrote the question and answer out from excel success book the one with all past papers
Do you have the year?
That's why I've written that it will be a contentiously marked answer...each year usually has one very annoying m/choice question that HSC Markers will hate.
This year we have two: Q.18 and 19.
 

determine

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I can confirm that all of the answers above are correct! 20/20 to the OP. :) With B for question 19.
 

WorryWartCob

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18/20.

:) Pretty Happy.

should have got 20. but whatever!! :)
good work! and good luck people!!
 

Swazz

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With B for question 19.
:( that means a 19/20 for me.

FUCKKKK no first in state after all. oh well hopefully most people lose marks in extended responses so that no one gets a 100 raw and I still have a shot :p
likely? since no one has gotten a perfect HSC business mark during 2008-10?
 
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friend177

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Do you have the year?
That's why I've written that it will be a contentiously marked answer...each year usually has one very annoying m/choice question that HSC Markers will hate.
This year we have two: Q.18 and 19.
This was a short answer question in the 2002 HSC examination Q26 b) Outline the role of this financial statement(cash flow statemen). this was the answer from excel success one hsc : cash flow statements record inflow and outflow of cash to business over a period of time. The role of the cash flow statement is to SHOW a business's LIQUIDITY (ability to meet short term obligations)
 

friend177

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:( that means a 19/20 for me.

FUCKKKK no first in state after all. oh well hopefully most people lose marks in extended responses so that no one gets a 100 raw and I still have a shot :p
likely? since no one has gotten a perfect HSC business mark during 2008-10?
I'd say 99 can get you first in state. Maybe tied first...
 

Swazz

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This was a short answer question in the 2002 HSC examination Q26 b) Outline the role of this financial statement(cash flow statemen). this was the answer from excel success one hsc : cash flow statements record inflow and outflow of cash to business over a period of time. The role of the cash flow statement is to SHOW a business's LIQUIDITY (ability to meet short term obligations)
From Official BOS Marking Guidelines:
Excellent responses sketched in general terms the role of the financial statement as indicating the cash flow over time from receipts and payments for the business in the stimulus material.

Says nothing about liquidity BUT does talk about receipts. =/
I actually concede that it might be B. My friend did a past trial paper with the exact same question but diff options and the answer then was Liquidity. My only concern is that Receivables is more than a valid answer in terms of interpreting the question and it wasn't an option in that trial paper.

BTW did anyone know this, but the answers to multiple choice are actually not pre-determined by the exam writers, but rather by senior markers in meeting before it commences? Just highlights why there are so much controversies each year (like for the 2010 eco M/choice about china's exchange rate)
 

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Hey Swazz I have a question about the short answers for q21 b Using an example, explain how a manager can resolve a conflict. (4) and was wondering what you would think of this response?
Would this be ok? if i said If something like by using grevience procedures managers could handle industrial conflicts effectively as communication is very important for conflict too be resolved. for example if Employers and Employees have arisen with a dispute the manager can use a grievance procedure to effectively combat the situation or some bullshit like that ??
 
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ilk

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for question 15,
cant it be D? - to encourage more efficient management practices?
during the test, i was deciding between A and D, and i chose D!
if you do eco (which covers protectism very closely) - IT IS USED FOR DOMESTIC INDUSTRIES TO BE MORE EFFICIENT (and increase competitivess with imports)
i know it DOES preserve local jobs too, but i thought D was a more accurate answer?
this is coming from person doing BOTH ECO AND BUSINESS
(p.s i've never heard of Riccardo's theory...(?) its definitely not in the syllabus

someone care to explain why its A over D?
i dont see anyone complaining about q15, so i thought i better ask ><
 

LtPhoenix

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for question 15,
cant it be D? - to encourage more efficient management practices?
during the test, i was deciding between A and D, and i chose D!
if you do eco (which covers protectism very closely) - IT IS USED FOR DOMESTIC INDUSTRIES TO BE MORE EFFICIENT (and increase competitivess with imports)
i know it DOES preserve local jobs too, but i thought D was a more accurate answer?
this is coming from person doing BOTH ECO AND BUSINESS
(p.s i've never heard of Riccardo's theory...(?) its definitely not in the syllabus

someone care to explain why its A over D?
i dont see anyone complaining about q15, so i thought i better ask ><

If you did economics then you would know that protectionist policies in the form of quotas, tariffs, technical discrimination, leads to an inefficient allocation of resources. Protectionism is used to protect infant industries, and also used by countries whom wish to stay self-sufficient in certain industries (i.e. USA defence), this in turn preserves employment in these industries.
 

Swazz

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Hey Swazz I have a question about the short answers for q21 b Using an example, explain how a manager can resolve a conflict. (4) and was wondering what you would think of this response?
Would this be ok? if i said If something like by using grevience procedures managers could handle industrial conflicts effectively as communication is very important for conflict too be resolved. for example if Employers and Employees have arisen with a dispute the manager can use a grievance procedure to effectively combat the situation or some bullshit like that ??
See here's the classic "makes sense" vs "strictly syllabus" debate. More recently they've been accepting more responses that make sense despite not addressing syllabus. So despite the dot point specifically referring to reconciling conflicts of interest (usually would discuss the possible conflict,then mention a management role- decisional as a negotiator of disputes) and finally summarise what occurs (they identify areas of concern, look for opportunities for compromise and then explain rationale of decisions made).

But what you explain clearly makes sense. Since it occurs through several steps much like reconciling conflicts of interest, as long as you were able to identify a potential conflict and then link it to how it does resolve it i.e. g procedures allow for conflicts over wage demands to be effectively addressed internally through better communication exchange and direct negotitations (note the dispute between employer and employee needs to be ID'd such as high wages vs minimising expenses).
Nonetheless, nowadays markers are encouraged to give such responses the same marks, as deserved. So yeah, should be more than OK
 

Skriker

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See here's the classic "makes sense" vs "strictly syllabus" debate. More recently they've been accepting more responses that make sense despite not addressing syllabus. So despite the dot point specifically referring to reconciling conflicts of interest (usually would discuss the possible conflict,then mention a management role- decisional as a negotiator of disputes) and finally summarise what occurs (they identify areas of concern, look for opportunities for compromise and then explain rationale of decisions made).

But what you explain clearly makes sense. Since it occurs through several steps much like reconciling conflicts of interest, as long as you were able to identify a potential conflict and then link it to how it does resolve it i.e. g procedures allow for conflicts over wage demands to be effectively addressed internally through better communication exchange and direct negotitations (note the dispute between employer and employee needs to be ID'd such as high wages vs minimising expenses).
Nonetheless, nowadays markers are encouraged to give such responses the same marks, as deserved. So yeah, should be more than OK
Ok, thanks alot so that answer I said which was similiar too that would be good since I also provided the two stakeholders(Employees and Employers) and a way the manager can resolve the conflict?

thanks!
 

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