Business Junior Cert Quiz

Lost In Confusion

Let's quiz each other on just jc business.

What is a shop steward?

cfc.forever

A shop steward is someone working within a company or organization that is the repersaintive of the union in the company. They are responsible for accepting union memberships if someone has a problem within the company they go to the shop steward, the shop steward tries to resolve it, if the shop steward personally can't resolve it, he goes to the union leaders.

What are the three statutory deductions?

claryfray

PRSI, PAYE and someone tell me what the third one is coz I didn't know there were 3 :O

What in arbitration?

Cr4pSnip3r

claryfray wrote: »

PRSI, PAYE and someone tell me what the third one is coz I didn't know there were 3 :O

What in arbitration?

A third party used in solving disputes? (and I think USC is a third one)

Give 3 rights and responsibilities of an employee.

multimate

Cr4pSnip3r wrote: »

A third party used in solving disputes? (and I think USC is a third one)

Give 3 rights and responsibilities of an employee.

rights
-18 days paid holidays
-minimum wage
-join trade union

responsibilites
-respect workplace
-do fair days work
-do not steal from employer

name 2 reasons why a household might make a claim under its house insurance policy

Lost In Confusion

Cr4pSnip3r wrote: »

A third party used in solving disputes?

Give 3 rights and responsibilities of an employee.

Rights of an Employee
Fair Days Wage for Fair Days Work
To get the right amount of holidays
To be treated equally
to work in a safe work place
Responsibilities
To keep company secrets
to arrive to work on time and do a fair day's work for fair day's wage
to treat other workers with respect


What is indemnity?

Lost In Confusion

multimate wrote: »

rights
-18 days paid holidays
-minimum wage
-join trade union

responsibilites
-respect workplace
-do fair days work
-do not steal from employer

name 2 reasons why a household might make a claim under its house insurance policy

the house was robbed or a fire occurred.


What is Insurable Interest?

cfc.forever

an interest in a person or thing that will support the issuance of an insurance policy; an interest in the survival of the insured or in... for example you can't make a profit from insurance.

What is the court that deals with small disputes within businesses or breaches of the sales of good and supply of services act ranging to a certain amount of cash?

multimate

Lost In Confusion wrote: »

the house was robbed or a fire occurred.


What is Insurable Interest?

a principle of insurance - states that you must financially benefit from owning something/be at risk of financial loss

name 2 type's of insurance that a household would be legally obliged to pay (2000)

Lost In Confusion

cfc.forever wrote: »

an interest in a person or thing that will support the issuance of an insurance policy; an interest in the survival of the insured or in... for example you can't make a profit from insurance.

What is the court that deals with small disputes within businesses or breaches of the sales of good and supply of services act ranging to a certain amount of cash?

small claims court, you can make claims up to 1800 euros.

What is benefit in kind?

cfc.forever

Benefit in kind is a luxuary in a business which is a form of pay but not in a cash amount. For example you may be given a car if your a pizza delivery man to go around on a day-to day basis and deliver and you may be given a phone if your a sales assistant.


What is said to be the birth certificate of a business?

multimate

cfc.forever wrote: »

Benefit in kind is a luxuary in a business which is a form of pay but not in a cash amount. For example you may be given a car if your a pizza delivery man to go around on a day-to day basis and deliver and you may be given a phone if your a sales assistant.


What is said to be the birth certificate of a business?

Certificate of incorporation
name 2 type's of insurance that a household would be legally obliged to pay (2000)

Lost In Confusion

cfc.forever wrote: »

Benefit in kind is a luxuary in a business which is a form of pay but not in a cash amount. For example you may be given a car if your a pizza delivery man to go around on a day-to day basis and deliver and you may be given a phone if your a sales assistant.


What is said to be the birth certificate of a business?

certificate of incorporation ?

What is a budget?

cfc.forever

A budget is a financial plan of what the government are estimating to spend the following year.

Who deals with financial complaints against a business and who deals with complaints against a government body?

Mary A

cfc.forever wrote: »

A budget is a financial plan of what the government are estimating to spend the following year.

Who deals with financial complaints against a business and who deals with complaints against a government body?

you:rolleyes:

cfc.forever

Now now keep on-topic, how would you know that Mary anyways? You must be in Dublin regulary :P

sotisme

cfc.forever wrote: »

A budget is a financial plan of what the government are estimating to spend the following year.

Who deals with financial complaints against a business and who deals with complaints against a government body?

The office of the ombudsman

State and explain the 4 factors of production and give the reward for each one

Mary A

cfc.forever wrote: »

Now now keep on-topic, how would you know that Mary anyways? You must be in Dublin regulary :P

nahh not really , love Galway , lol

Lost In Confusion

sotisme wrote: »

The office of the ombudsman

State and explain the 4 factors of production and give the reward for each one

land-rent
labour-wages
capital
enterprise- get to keep profit


what does the club treasurer do?

greenpyjamas

Lost In Confusion wrote: »

land-rent
labour-wages
capital
enterprise- get to keep profit


what does the club treasurer do?

Manages the financial accounts of the club
Announces the club's finances at the AGM
Keeps track of membership fees.

What is the formula for Balance of Payments?

cfc.forever

The club treasurer keeps all accounts for the club/prepares the shop and trading account/income and expenditiure account/receipt and purchase, the treasurer signs any cheques and accepts membership fees.

The secretary keeps the m... in a meeting and the chairmans job is too? Fill in the blank and answer the question.

Edit: The formula for Balance of Payments is taking the imports from the exports.

Snncc

The secretary... minutes of the meeting...
The chairperson is in charge of the running of a club, they take charge of meetings and they usually sign any cheques along with the treasurer which the club has to pay.

What are the characteristics of a good consumer?

Lost In Confusion

Snncc wrote: »

The secretary... minutes of the meeting...
The chairperson is in charge of the running of a club, they take charge of meetings and they usually sign any cheques along with the treasurer which the club has to pay.

What are the characteristics of a good consumer?

A good consumer are aware of their rights and they shop around for good value.

Drift_King_33

What two figures make up the shareholders funds?

sotisme

Drift_King_33 wrote: »

What two figures make up the shareholders funds?

The issued share capital and capital employed? I dunno

Why does this appear on a Bank Statement "Bank Charges- €14"

Lost In Confusion

sotisme wrote: »

The issued share capital and capital employed? I dunno

Why does this appear on a Bank Statement "Bank Charges- €14"

if you overdraw the bank charges interest. I think

Name the four factors of production

sotisme

Lost In Confusion wrote: »

if you overdraw the bank charges interest. I think

Name the four factors of production

land labour capital enterprise

What is the difference between the LRC and the labour court?

Drift_King_33

sotisme wrote: »

The issued share capital and capital employed? I dunno

Why does this appear on a Bank Statement "Bank Charges- €14"

Yes

These are charges which are given to an accountholder by the bank. These may include transaction fees interest etc.

How many shareholders in a Private Limited Company?

cfc.forever

1-99 used to be 2-99, but it got changed to 1 :P

Who is the current minister of finance!

Lost In Confusion

cfc.forever wrote: »

1-99 used to be 2-99, but it got changed to 1 :P

Who is the current minister of finance!

Michael noonan learnt that for cspe :P

Drift_King_33

cfc.forever wrote: »

1-99 used to be 2-99, but it got changed to 1 :P

Who is the current minister of finance!

Michael Noonan

Give three pieces of information needed to open a Current Account?

Lost In Confusion

Drift_King_33 wrote: »

Michael Noonan

Give three pieces of information needed to open a Current Account?

proof of identification, passport etc.
Proof of address
You must be aged 18 or over

sotisme

cfc.forever wrote: »

1-99 used to be 2-99, but it got changed to 1 :P

Who is the current minister of finance!

I learned 1-50 ?

Michael noonan

Explain the differnence between a loan and an overdraft (only got 3 out of 6 for this in my mock so a good answer would be appreciated! )

Drift_King_33

Lost In Confusion wrote: »

proof of identification, passport etc.
Proof of address
You must be aged 18 or over

First two are right you can be under 18 though Not being snobby but you might lose marks.. Write down PPS No. instead

cfc.forever

Passport
Driving licence
National Identity card
National Age Card (issued by the An Garda Siochana)


Or

Any government document which lists a home address in Ireland

What are the final accounts in a business?

Enough quizzing for me, I need to start cramming for it

Drift_King_33

sotisme wrote: »

I learned 1-50 ?

Michael noonan

Explain the differnence between a loan and an overdraft (only got 3 out of 6 for this in my mock so a good answer would be appreciated! )

A loan is usually a large amount of money which we may get to fund for an object such as a computer system. It can be Long or Medium Term.

A Bank Overdraft is usually a small amount which we use to buy smaller objects such as a single computer. It should be paid back within one year.

Lost In Confusion

Drift_King_33 wrote: »

First two are right you can be under 18 though Not being snobby but you might lose marks.. Write down PPS No. instead

our teacher said that the under 18 ones arent real accounts and to put it as a point

cfc.forever

Correction a loan can be short term, medium term or long term

What is hire purchase?

And you can get a proper current account, the exact same as an adult at 16 and its 18 for a credit card.

sotisme

Drift_King_33 wrote: »

A loan is usually a large amount of money which we may get to fund for an object such as a computer system. It can be Long or Medium Term.

A Bank Overdraft is usually a small amount which we use to buy smaller objects such as a single computer. It should be paid back within one year.

Can a loan not be short term? And for bank overdraft I wrote that in my mock and the examiner wrote "a bank overdraft isn't necessarily a small amount"

Lost In Confusion

cfc.forever wrote: »

Correction a loan can be short term, medium term or long term

What is hire purchase?

And you can get a proper current account, the exact same as an adult at 16 and its 18 for a credit card.

you have to get a parent or legal guardian to sign the form so it's not the same as when you're 18 according to our teacher.

Hire purchase is a way of buying things. You pay installments every month, with high interest rates and on the last payment the item is yours. You cannot back out until half the payments are made.

sotisme

There's no question so I'll ask one:
What is APR? (Explanation, I also only got half marks on this for my mocks!)

cfc.forever

You don't need permission if you're 16+ so your teacher is wrong, as I personally have an account.

What is the prenium in Insurance

and APR is Annual Percentage rate which describes the interest rate for a whole year (annualized), rather than just a monthly fee/rate, as applied on a loan, mortgage loan, credit card, etc. It is a finance charge expressed as an annual rate

Lost In Confusion

cfc.forever wrote: »

You don't need permission if you're 16+ so your teacher is wrong, as I personally have an account.

What is the prenium in Insurance

and APR is Annual Percentage rate which describes the interest rate for a whole year (annualized), rather than just a monthly fee/rate, as applied on a loan, mortgage loan, credit card, etc. It is a finance charge expressed as an annual rate

premuium is the amount of money you have to pay for insurance

What is piece rate?

cfc.forever

Piece rate is when someone is paid per whatever you for e.g banana they sell for e.g you might get paid 37c per banana you sell or per fruit you get a certain amount.

What is an actuary in Insurance?

sotisme

Lost In Confusion wrote: »

premuium is the amount of money you have to pay for insurance

What is piece rate?

This is when you are paid by your employer per piece eg. In a factory you are paid €1 for each pair of socks you make. The amount of time you spend working is irrelevant

What is the difference between the LRC and the Labour Court?

cfc.forever

The Labour Court deals with the following types of disputes:-

industrial relations
equality
organisation of working time
national minimum wage
part-time work
fixed-term work
safety, health and welfare at work and has a judge where as the LRC goal is for you to work out your problems between the employer.

And you didn't answer my question, what is an actuary?

sotisme

cfc.forever wrote: »

The Labour Court deals with the following types of disputes:-

industrial relations
equality
organisation of working time
national minimum wage
part-time work
fixed-term work
safety, health and welfare at work and has a judge where as the LRC goal is for you to work out your problems between the employer.

And you didn't answer my question, what is an actuary?

An actuary calculates the premimum for insurace

What are the headings to a business plan?

tr0llface

(terms may be wrong but I know them in Irish so)

shareholders
|
board of directors
|
managing director
|
departments eg marketing finance production advertisement

what are the 4 ps of marketing/marketing mix

sotisme

tr0llface wrote: »

(terms may be wrong but I know them in Irish so)

shareholders
|
board of directors
|
managing director
|
departments eg marketing finance production advertisement

what are the 4 ps of marketing/marketing mix

Price place product promotion

True or false:
The pirchase of stock for re-sale is an example of capital expenditure

Snncc

tr0llface wrote: »

(terms may be wrong but I know them in Irish so)

shareholders
|
board of directors
|
managing director
|
departments eg marketing finance production advertisement

what are the 4 ps of marketing/marketing mix

Product, Place, Price & Promotion

What do the following terms stand for:

AGM:
EGM:
ATM:
APR:
CAM:

greenpyjamas

Snncc wrote: »

Product, Place, Price & Promotion

What do the following terms stand for:

AGM:
EGM:
ATM:
APR:
CAM:/QUOTE]

AGM: Annual General Meeting
EGM: Emergency General Meeting ?
ATM:Automated Teller Machine
APR: Annual Percentage Rate
CAM: Computer Aided Manufacturing