BPT1501 Assignment 7 PORTFOLIO (Business
Practice) EXAM STUDY GUIDE 2025/2026
COMPLETE PACK WITH VERIFIED
ANSWERS || GUARANTEED PASS
Q1.
Which of the following best defines business practice?
A) Theories of economics only
B) The study of markets only
C) The methods, strategies, and activities used to run a business
D) Political activities in organizations
Answer: C) The methods, strategies, and activities used to run a business
Q2.
Which of the following is a primary function of management?
A) Marketing
B) Controlling
C) Selling
D) Investing
Answer: B) Controlling
Q3.
What does SWOT analysis stand for?
A) Strategies, Weaknesses, Opportunities, Tactics
B) Strengths, Weaknesses, Opportunities, Threats
C) Systems, Work, Objectives, Targets
D) Sales, Work, Operations, Techniques
Answer: B) Strengths, Weaknesses, Opportunities, Threats
,Q4.
In business communication, the key elements include:
A) Sender, message, channel, receiver, feedback
B) Sender, profit, marketing, decision
C) Receiver, environment, economy
D) None of the above
Answer: A) Sender, message, channel, receiver, feedback
Q5.
Which of the following is an external environment factor affecting business?
A) Leadership style
B) Employee motivation
C) Economic conditions
D) Management structure
Answer: C) Economic conditions
Q6.
The triple bottom line of sustainability includes:
A) Profit, Performance, Promotion
B) People, Planet, Profit
C) Planning, Politics, Performance
D) Products, Price, Profit
Answer: B) People, Planet, Profit
Q7.
Which financial statement shows a business’s assets, liabilities, and equity at a specific point in
time?
A) Income statement
B) Balance sheet
, C) Cash flow statement
D) Statement of profit distribution
Answer: B) Balance sheet
Q8.
Which of the following best describes an entrepreneur?
A) A government employee
B) A person who creates and manages a business, taking financial risks
C) An accountant only
D) A passive investor
Answer: B) A person who creates and manages a business, taking financial risks
Q9.
The marketing mix (4Ps) includes:
A) Planning, Process, Policy, Price
B) Product, Price, Place, Promotion
C) People, Planet, Profit, Process
D) Product, Profit, Planning, Portfolio
Answer: B) Product, Price, Place, Promotion
Q10.
Which legislation in South Africa promotes fair labor practices?
A) Companies Act
B) Labour Relations Act
C) Income Tax Act
D) Competition Act
Answer: B) Labour Relations Act
Q11.
Practice) EXAM STUDY GUIDE 2025/2026
COMPLETE PACK WITH VERIFIED
ANSWERS || GUARANTEED PASS
Q1.
Which of the following best defines business practice?
A) Theories of economics only
B) The study of markets only
C) The methods, strategies, and activities used to run a business
D) Political activities in organizations
Answer: C) The methods, strategies, and activities used to run a business
Q2.
Which of the following is a primary function of management?
A) Marketing
B) Controlling
C) Selling
D) Investing
Answer: B) Controlling
Q3.
What does SWOT analysis stand for?
A) Strategies, Weaknesses, Opportunities, Tactics
B) Strengths, Weaknesses, Opportunities, Threats
C) Systems, Work, Objectives, Targets
D) Sales, Work, Operations, Techniques
Answer: B) Strengths, Weaknesses, Opportunities, Threats
,Q4.
In business communication, the key elements include:
A) Sender, message, channel, receiver, feedback
B) Sender, profit, marketing, decision
C) Receiver, environment, economy
D) None of the above
Answer: A) Sender, message, channel, receiver, feedback
Q5.
Which of the following is an external environment factor affecting business?
A) Leadership style
B) Employee motivation
C) Economic conditions
D) Management structure
Answer: C) Economic conditions
Q6.
The triple bottom line of sustainability includes:
A) Profit, Performance, Promotion
B) People, Planet, Profit
C) Planning, Politics, Performance
D) Products, Price, Profit
Answer: B) People, Planet, Profit
Q7.
Which financial statement shows a business’s assets, liabilities, and equity at a specific point in
time?
A) Income statement
B) Balance sheet
, C) Cash flow statement
D) Statement of profit distribution
Answer: B) Balance sheet
Q8.
Which of the following best describes an entrepreneur?
A) A government employee
B) A person who creates and manages a business, taking financial risks
C) An accountant only
D) A passive investor
Answer: B) A person who creates and manages a business, taking financial risks
Q9.
The marketing mix (4Ps) includes:
A) Planning, Process, Policy, Price
B) Product, Price, Place, Promotion
C) People, Planet, Profit, Process
D) Product, Profit, Planning, Portfolio
Answer: B) Product, Price, Place, Promotion
Q10.
Which legislation in South Africa promotes fair labor practices?
A) Companies Act
B) Labour Relations Act
C) Income Tax Act
D) Competition Act
Answer: B) Labour Relations Act
Q11.
