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Business Management And Law Ch 4 (part1)
Test Description: First part of Chapter 4 test.
Instructions: Answer all questions to get your test result.
1) The Baby Boomer generation
A
is much smaller than those just before and just after it.
B
is about the same as those just before and after it.
C
played with fireworks as children.
D
is much larger than those just before and just after it.
2) Service jobs
A
are less common in the current economy.
B
sometimes pay well and require much training, and sometimes don't.
C
are generally low paying, low-skill jobs.
D
are generally high paying, high-skill jobs.
3) In most states, proprietorships
A
must file complex paperwork in order to do business
B
are often temporary businesses formed around someone's hobby
C
offer legal protection of private assets
D
are required to register a business name
4) A cooperative
A
is owned by and operated for the benefit of its members.
B
is a special type of corporation that allows all income to be passed through to its shareholders.
C
is owned and operated by friends.
D
limits liability of its owners.
5) A precise statement of the results a business expects to achieve is a(n)
A
goal.
B
mission statement.
C
policy manual.
D
organizational chart.
6) Policies are
A
descriptions of how work is to be done.
B
used to measure whether a business is successful.
C
specific statements of what a business expects to achieve.
D
guidelines used to make consistent decisions.
7) Procedures are
A
guidelines used to make consistent decisions.
B
used to measure whether a business is successful.
C
specific statements of what a business expects to achieve.
D
descriptions of how work is to be done.
8) Unity of command is
A
one person in control of an organization.
B
the number of employees assigned to a particular work task.
C
the number of employees assigned to a particular manager.
D
a clear reporting relationship for all staff of a business.
9) The most important role for a business is to
A
keep business records.
B
sell goods and services.
C
pay taxes.
D
provide employment.
10) _____ should be kept in mind when developing procedures.
A
Investors who will benefit from them
B
Customers who will be affected by them
C
Shareholders who will profit from them
D
Employees who will implement them
*select an answer for all questions
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