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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
False
B
True
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
False
B
True
8) Many businesses fail in their first year of operation.
A
True
B
False
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 X
B
Generation Y
C
baby boomers
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
20 percent
B
1 percent
C
5 percent
D
35 percent
14) About what percentage of U.S. businesses employ more than 100 workers?
A
5 percent
B
35 percent
C
less than 1 percent
D
20 percent
15) Every business performs all of the following activities EXCEPT
A
maintaining business records.
B
buying goods and services.
C
raising capital.
D
manufacturing products.
16) Which of the following type of business is NOT a producer?
A
chicken farm
B
pharmacy
C
coal mine
D
appliance factory
17) Which major category of business is the fastest-growing in the U.S. economy?
A
manufacturer
B
producer
C
service business
D
intermediary
18) Business activities start with
A
intermediaries
B
marketers
C
producers
D
service businesses
19) Proprietorships
A
protect the liability of the business owners to only the amount of money they have invested directly in the business.
B
are the easiest form of business to start.
C
account for the largest percentage of business revenues in the United States.
D
are owned and controlled by two or more people who have entered into a written agreement.
20) Of the MAJOR forms business ownership in the United States, the most difficult to form is a
A
proprietorship
B
partnership
C
corporation
D
franchise
*select an answer for all questions
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