1. Explain triple bottom line reporting (1 mark)

2. Explain digital disruption to business and how it differs from business disruption. (2 marks)

3. For the four scenarios described below, indicate the business structure each one is likely to take sole trader, partnership or company (public or proprietary) and why. (4 marks)

1. Sam and Andrew wish to start a coffee cart business. They are concerned about the legal issues (for example, their personal liabilities) for this business once they start trading.

2. Four robotic engineers with established careers wish to set up a business developing robots. They want to be able to raise capital by issuing shares to the public.

3. Melinda and Daniel have been running separate marketing businesses but are finding the costs and hours are very high for one person and are only just keeping their businesses operational. They have decided to combine their businesses so they can share resources and have more time off to spend with their families.

4. Charlie has commenced a lawn mowing and garden maintenance business by himself.

4. We made a profit of $170,000, so why is there only $4,500 in the bank?, exclaimed Mr Greasy, the owner of the local Fish and Chip shop. Explain to Mr Greasy the relationship between profit and cash flow to help him understand the reason why there is such a big difference between profit and cash in the bank. (1 mark)

5. Explain the difference between a business transaction and a business event. Use examples to illustrate this difference. (2 marks)