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NATIONAL OPEN UNIVERSITY OF NIGERIA

UNIVERSITY VILLAGE, PLOT 91, CASDASTRAL ZONE, NNAMDI AZIKIWE EXPRESS WAY, JABI, ABUJA.
FACULTY OF MANAGEMENT SCIENCES
JANUARY 2021 EXAMINATION

COURSE CODE: ENT 883

COURSE TITLE: SMALL BUSINESS MANAGEMENT

TIME ALLOWED: 3 HOURS

Instructions: 1. Attempt question number One (1) and any other three (3).

2. Question number 1 is Compulsory and carries 25 marks, While the other questions carry 15 marks each.

3. Present all your points in coherent and orderly manner.

 

 

Q1a. In the Nigerian economy and in all other economies, small businesses litter the economic landscape. In which sector of the economy can be found?

1b. What benefits does budgeting delivers to small business organizations?

1c. Lack of capital has been identified as a major problem facing small businesses in Nigeria. How does Small businesses Source for Capital in Nigeria?

 

Q2. Highlight and comment on the factors and characteristics for success in small business.

 

Q3a. Logically highlight the constituent elements of the financial plan

 

Q4. Following the successful incorporation of your limited liability company, provide a guide on steps to follow in future incorporation engagement.

 

Q5a. Because of their small nature, small businesses enjoy the advantage of operational flexibility. Amplify this statement.

b. Write short note on the following:

i) The Balance Sheet

ii) The income statement (Profit and loss account)

iii) The cash flow statement.

 

Q6a. Who is a consumer?

Q6b. Apart from identifying whom the potential customer of the small business is, there is the need to evaluate the size of the market for products or services. How is market size evaluation performed?


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