Business: Sole Proprietorship and Hotel

Topics: Sole proprietorship, Cash flow, Hotel Pages: 11 (3191 words) Published: February 23, 2014
STUDY GUIDE: 2014 BUSINESS & MANAGEMENTName:
PAPER 1: THE IB CASE STUDY: THE IMPERIAL
This is a very important undertaking because you are preparing for IB paper 1. The more you review this case study and know all the associated terms and concepts, the better you will be prepared for IB Paper 1, which is 40% of your IB Score. This case study will be used for your mock exam, as well as your IB final exam. Completion of this study guide is also worth 25 formative points for your ISC Business grade (regardless of your level). There will be additional questions for HL students. ISC students may skip questions where indicated. Answer the questions on a separate document, either typed or neatly written. Double space using 12 point type and number/label clearly. I would suggest that you keep a copy to study from if you intend to study over Carnival. Your MOCK Exam for both SL and HL on this pre-seen case (Paper 1) is scheduled for Tuesday, March 11 at 1:00 pm. Your Paper Two exam is Thursday 13 March at 8:30 am. Due Dates for Study Guide:

Part One: Friday, Feb 21 at class time
Part Two: Tuesday, Feb 25 at class time
Part Three: Friday, Feb 28 at class time
Each section is worth a total of 30 points, for a total of 90 points (formative assessment) 28 -30 points
25 - 27 points
22 - 24 points
19 - 21 points
16 – 18 points
* On Time
* Excellent Spelling & Grammar
* All questions attempted.
* Very Comprehensive Answers.
Late and/or
* Very good Spelling & Grammar
* All but a couple questions attempted.
*Comprehensive Answers.
*A few minor errors with spelling & grammar
* Almost all questions attempted.
*Comprehensive Answers.
* Some significant errors with spelling and grammar.
* Most questions attempted.
*Major errors with spelling and grammar.
* Many questions not attempted.
* Very short responses to questions.
Assignments turned in one day late, regardless of reason, will be bumped down to next grade category. NO assignments accepted more than one day late. If you are absent, I will accept email submissions. You may use up to ONE iBEP for this three-part study guide.

Part One
1. Clearly explain the difference between the primary sector, secondary sector, tertiary sector and quaternary sector. In which sector is the Imperial engaged? Primary Production: Activities, which involve the extraction of raw materials from the earth and the growing of food. Secondary Production: Activities such as manufacturing which transform raw materials into finished goods. Tertiary Production: The activities that involve the provision of services. Quaternary Production: Technology

The difference between them is that each sector has a little bit more to offer. Some businesses are there especially for certain aspects. For example: KIA, the car business takes raw materials and creates the car parts needed. Then, the factory assembles the parts then, they are brought down to curacao. Lastly, sold with given service. The imperial lies in the Tertiary Production because it’s a hotel and it provides service to its guests to satisfy there needs and wants.

2. Explain the meaning of the expression “diversify investments” (line 3) A diversified investment is when you’ve bought many different kinds of assets, such as stock, bonds, and commodities. 3. What is the purpose of a cash flow statement?

The Cash Flow statements purpose is to help control and monitor the flow of cash in the business. There are both advantages and disadvantages. Them being: Identifying the timing of cash shortages and surpluses, supporting applications for funding, enhancing the planning process and monitoring cash flow. 4. Explain the concept of “liquidity management”. (line 5) Liquidity Management has activities within a financial institution to ensure that holding of liquid assets are sufficient to meet its obligations as they fall, due to unexpected transactions. 5- THERE IS NO #5

6 The hotel was...
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