I have uploaded the file blow, it is a 59 multiple choice question. use the link to help if needed. It os due on Saturday, 2 days from now. Introduction to Business. CC. (Free: https://courses.lumenlearning.com/boundless-busine… )An Introduction to Business. CC. (Free: https://2012books.lardbucket.org/books/an-introduc… )
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1. These are all true about sole proprietorships, EXCEPT:
A. Less exposure to personal liability.
B. Quicker tax preparation.
C. Lower start-up costs.
D. Ease of money handling.
2. These are all types of partnerships:
B. Limited liability
C. Joint liability
D. Several liability
These are common clauses in a partnership agreement:
how to mediate disagreements and disputes
when it may be appropriate to remove a partner
how decisions are made
how compensation is decided
4. These are the main types of corporations that exist in the United States:
A. Limited Liability Companies (LLCs)
B. S Corporations
C. Nonprofit Organizations
D. C Corporations
5. Segments of corporate structure may consist of the following departments:
B. Human Resource
6. These are some requirements to be elegible for S corporation status:
A. Be an elegible entity
B. Have less than 100 shareholders
C. Have only one class of stock
D. Have more than 100 shareholders
7. These are the main types of franchises:
B. Business format
8. A typical franchise agreement contains:
A. Uniform Franchise Offering Circular (UFOC) or FDD (Franchise Disclosure Document)
B. Franchisor services
C. Disclosures required by state laws.
D. Franchisee obligations
9. Projects can be organized by:
B. customer type
C. other organized need
10. Organization charts are a vital tool of management and can be classified in these three broad
11. These are some important characteristics of an organization’s structure:
B. span of power
D. span of control
12. Different approaches to departmentalization include:
13. These are some of the organizational structures companies may adopt based on their size, diversity
in scope of operations:
14 ____ is a variable work schedule, unlike traditional work arrangements in which employees work a
standard 9 a.m. to 5 p.m. shift.
15. _____ is the division or breaking up into constituent parts, particularly categories which have
A. been lumped together.
16. A Mixed Economy exhibits characteristics of both market and _______ economies, with private
and state sectors providing direction.
17. These are places where entrepreneurs can find funding:
A. Loans from fields or relatives
B. Venture capital
C. Grants from private foundations
F. Private stock issue
18. Promotion comprises elements such as:
B. Sales promotion
C. Public relations
E. Personal selling
19. These are essential elements of a business plan:
A. Market analysis
B. Hiring policies
C. Financial projections
D. Executive summary
20. These are types of bootstrapping:
A. Subsidy finance
B. Joint utilization
C. Personal debt
D. Minimizing inventory
E. Sweat equity
F. Delaying payment
21. Many businesses need more capital than can be provided by the owners themselves. These are
some forms of external financing:
B. Hedge funds
C. Angel investors
D. Venture capital investors
E. Alternative asset management
22. SBA’s activities are summarized as:
23. ____ metrics are measurements which give â??the rosiest picture possibleâ? but do not accurately
reflect the key drivers of a business.
24 In _____ stages of development, customers can be recruited to evaluate prototypes. There is an
attempt to test new products under conditions that are relatively close to actual use.
25. Inventory considerations present at strategic supply chain activities include:
A. sourcing planning
B. inventory decisions
C. location of inventory
D. network optimization
26. Inventory considerations present at tactical supply chain activities include:
A. inventory decisions
B. location of warehousing
C. network optimization
D. sourcing planning
28. This is not a benefit of production scheduling:
A. inventory reduction
C. minimize production efficiency
D. process change-over reduction
E. real time information
29. ____ is the time of the final payment of a loan or other financial instrument, at which point the
principal (and all remaining interest) is due to be paid.
A. contract deadline
B. deadline date
C. maturity date
D. due date
30. The basic idea behind the ____ method of software development is to develop a system through
repeated cycles (iterative) and in smaller portions at a time (incremental), allowing software
developers to take advantage of what was learned during development of earlier parts or
versions of the system.
31. “Regarded as an amorphous omnipresent space for processing and storage on the Internet; the
focus of cloud computing.” This statement refers to:
32. This is not a purchase order type:
D. one-time buy
33. ____ planning can refer to an organizationâ??s process of determining how to optimize current
resources and operations.
34. This is not a reason for keeping an inventory:
A. lower inflation
D. economies of scale
35. This is not one of the nine common TQM practices:
A. client retention
B. employee involvement
C. customer involvement
D. strategic planning
36. The first, and major, TQM principle is to _____.
A. control quality
B. reduce manufacturing defects
C. maximize returns from operations
D. satisfy the customer
37. Reducing _____ by more efficient manufacturing is a key goal of management, with supply chain
sustainability seen as a key component.
38. These are the 3 areas of strategic importance to any organization:
D. Human Resources
39. Operations decisions include decisions that are strategic in nature, meaning that they have
____-term consequences and often involve a _____of expense and resource commitments.
A. short term – high level
B. long term – great deal
C. long term – minimum level
D. short tem â?? minimum
40. Tactical operations decisions have ______ term impact on the organization, often involve ____
commitment of resources, and can be changed more easily than strategic decisions.
A. medium to long – more
B. medium to long – less
C. short to medium – less
D. short to long â?? less
41. These are part of the management processes:
42. These are different management styles:
43. Resources can be:
44. Plans exist at these levels:
45. These are some of the functions of management:
46. These are some of the characteristics associated with organization:
A. Grouping of individuals into departments
B. Differentiated functions
C. Goal achievement
D. Specialization and division of work
47. These are leadership competencies that are the building blocks to becoming an effective leader:
A. Ensure a collaborative climate
B. Focus on the goal
C. Set priorities
D. Build confidence
48. Knowledge management efforts typically focus on organizational objectives such as:
B. Improved performance
C. Continuous improvement
E. Competitive advantage
49. As a result of their knowledge management efforts, companies benefit as they are able to:
A. Control costs and promote reuse.
B. Develop new products and services that add value to their customers.
C. Improve the value of their existing products.
D. Respond to environmental changes faster and experience less uncertainty.
50. The process of control can usually be divided into the following components:
A. The process to be controlled
B. The comparator
C. The activator
D. The sensor
51. Strategic control pertains to the following elements:
A. Measurement and tracking
B. Enabling Iteration
C. Mission statements, vision statements and operational plans
D. Short and long-term objectives
52. The three levels of management typically found in an organization are:
53. ____-level managers focus on controlling and directing. They serve as role models for the
employees they supervise.
54. Supervisors, section leads, and foremen are examples of ____-level management titles. These
managers focus on controlling and directing.
55. These are the steps in the decision making process:
A. First, alternatives must be evaluated against all objectives, and those who are show greater
chances of success are the tentative decisions. Next, objectives must be classified, placed in
order of importance, and then established. Finally, the tentative decision is evaluated for
more possible consequences.
B. First, alternatives must be evaluated against all objectives, and those who are show greater
chances of success are the tentative decisions. Next, objectives must be established,
classified and placed in order of importance. Finally, the tentative decision is evaluated for
more possible consequences.
C. First, objectives must be established, classified and placed in order of importance. Then,
alternatives must be evaluated against all objectives, and those who are show greater
chances of success are the tentative decisions. Finally, the tentative decision is evaluated for
more possible consequences.
D. First, objectives must be placed in order of importance, established, and classified. Then,
alternatives who are show greater chances of success are the tentative decisions, and must
be evaluated against all objectives. Finally, the tentative decision is evaluated for more
56. Depending on the particular role, industry, organization and objectives, a manager may use one
or more of the following analytical models to frame tactical and strategic questions:
57. These are some of the reasons to franchise:
C. Lower barriers to entry
D. Very expensive
58. These are some of the risks with ‘Contract Manufacturing’:
A. Intellectual property loss
B. Lack of control
D. Loss of flexibility
59. These are the main variants of countertrade:
C. Counter purchase
E. Switch trading
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