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POBF 7.01 Marketing, 7.02 - Types Of Business Ownership, 7.03 - Management
Test Description: POBF 7.01 Marketing, 7.02 - Types of Business Ownership, 7.03 - Management
Instructions: Answer all questions to get your test result.
1) According to the marketing concept, which option demonstrates customer orientation?
A
convincing a buyer to buy
B
researching a firm's competitors
C
advertising the features of a product
D
finding out what a buyer wants
2) Which would probably result if a business reduced its marketing costs?
A
decreased variety of consumer goods
B
increased consumer awareness of goods and services
C
decreased need for customer contact with businesses
D
increased costs of production
3) The Scott Company decided to sell stock to raise capital. Under what form of business organization does the company operate?
A
proprietorship
B
cooperative
C
partnership
D
corporation
4) A characteristic of a sole proprietorship is that the owner:
A
has access to unlimited funds.
B
receives all the profit.
C
transfers all the risk.
D
delegates all functions.
5) A type of business ownership in which one or more of the owners does not have full liability is called a:
A
service organization.
B
general partnership.
C
limited partnership.
D
sole proprietorship.
6) A manager who helps an employee count the money in a cash drawer and prepare a bank deposit is demonstrating:
A
aggressive behavior.
B
natural talent.
C
technical skills.
D
creativity.
7) John says that his job duties include planning what will be done, organizing and directing workers, and solving problems related to worker productivity. His job can best be described as a:
A
bookkeeper.
B
broker.
C
manager.
D
cashier.
8) Which do managers often set in order to control the work effort?
A
job standards
B
hiring objectives
C
diversity quotas
D
expense budgets
9) This type of business ownership has a board of directors.
A
Sole Proprietorship
B
Partnership
C
Limited Partnership
D
Corporation
10) In this type of business ownership 1 person is responsible for all decisions and debts.
A
Sole Proprietorship
B
Partnership
C
Corporation
D
Limited Partnership
*select an answer for all questions
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