1) Pictorially illustrate Six Core Function of a business: (10)

a. Academic version 
b. Real

world 
c. Ideal

2) What makes the world go round? (2)

3) Differentiate between Red Ocean/Blue Ocean and Reef. (6)

4) Where do Small to Medium Sized Enterprises Compete: Red or Blue or Reef? (2)

5) The Income Statement reflects: Revenue, Expenses, Net Profit? True/ False (2)

6) The Balance Sheet reflects: Assets, Liabilities and Owners Equity? True/ False (2)

7) What are the two (2) words Senor Chavez finds rupulsive? (3)

8) What two (2) words should you replace with the corresponding answer in the previous question? (3)

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