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Principles Of Business Ch. 5 Review Part I
Test Description: Review for Chapter 5 test
Instructions: Answer all questions to get your test result.
1) From 1996 to 2006, total employment in the United States fell by nearly 14 percent.
A
True
B
False
2) By 2014, it is expected that more than half of all jobs in the United States will be held by women.
A
False
B
True
3) The largest number of U.S. businesses have no employees other than the owner.
A
True
B
False
4) When a large business opens in an area, other businesses often will locate there to support the larger business.
A
True
B
False
5) All businesses make products.
A
True
B
False
6) Only very large businesses can become corporations.
A
False
B
True
7) Nonprofit corporations do not have to pay corporate income taxes.
A
True
B
False
8) Many businesses fail in their first year of operation.
A
False
B
True
9) Most businesses use a functional organizational structure.
A
False
B
True
10) A span of control is a diagram that shows the structure of an organization.
A
True
B
False
11) People born between 1946 and 1964 are generally referred to as
A
Generation Y
B
baby boomers
C
Generation X
D
bohemians.
12) Over the next decade, which of the following groups will experience a DECLINE in employment growth rates in the United States?
A
Hispanic-American workers
B
white, non-Hispanic workers
C
Asian-American workers
D
African-American workers
13) What percentage of the U.S. workforce is made up of contingent workers?
A
1 percent
B
35 percent
C
5 percent
D
20 percent
14) About what percentage of U.S. businesses employ more than 100 workers?
A
less than 1 percent
B
20 percent
C
5 percent
D
35 percent
15) Every business performs all of the following activities EXCEPT
A
manufacturing products.
B
maintaining business records.
C
raising capital.
D
buying goods and services.
16) Which of the following type of business is NOT a producer?
A
chicken farm
B
pharmacy
C
appliance factory
D
coal mine
17) Which major category of business is the fastest-growing in the U.S. economy?
A
producer
B
service business
C
intermediary
D
manufacturer
18) Business activities start with
A
service businesses
B
producers
C
marketers
D
intermediaries
19) Proprietorships
A
are the easiest form of business to start.
B
are owned and controlled by two or more people who have entered into a written agreement.
C
account for the largest percentage of business revenues in the United States.
D
protect the liability of the business owners to only the amount of money they have invested directly in the business.
20) Of the MAJOR forms business ownership in the United States, the most difficult to form is a
A
partnership
B
franchise
C
corporation
D
proprietorship
*select an answer for all questions
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