Practice Establishment Costs (5.1) - Business Size and Finance

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8 questions

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6 questions · about 4 min · pass mark 70%. Hints available.
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2 questions · about 1 min · pass mark 70%. Hints available.
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6 sample questions

Question 1.
What is included in establishment costs?
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Think about the foundational expenses for starting a business.
Question 2.
Why are licenses important in starting a business?
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Consider the implications of not having a license.
3Question 3.
What is the primary component of establishment costs?
- Marketing
- Establishment Costs
- Employee Salaries
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Focus on what a business needs to start functioning.
4Question 4.
True or False: Licenses are optional for businesses.
- True
- False
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Think about legal requirements for businesses.
Question 5.
If a business underestimates its license fees and has to pay additional fines later, what financial strategies could it employ to manage this unexpected cost?
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Think about how businesses can adapt when facing unplanned expenses.
Question 6.
Design a startup budget for a small gym including all potential establishment costs. Provide justification for each item.
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Consider all operational aspects of a gym when planning your budget.

4 more questions in this section. Enroll free to practise them all.