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Ch. 6 And 7 Test Review Part III
Test Description: Review for Ch. 6 and 7 Test in Principles of Business
Instructions: Answer all questions to get your test result.
1) The source of owner-supplied money depends on the business’ ownership structure, In a(n) __________, one person will supply the money,
A
venture
B
start-up
C
proprietorship
D
entrepreneur
2) __________ financing is money needed for the main resources of a business that will last for many years.
A
venture
B
long-term
C
start-up
D
short-term
3) Most business plans are developed for __________ year(s).
A
five
B
twenty
C
ten
D
one
4) Money needed to pay for the current operating activities of a business is referred to as __________ financing.
A
venture
B
long-term
C
short-term
D
start-up
5) The amount of money needed to open a business is called __________ financing.
A
short-term
B
venture
C
long-term
D
start-up
6) Products or raw materials a business keeps on hand to do business are referred to as __________.
A
start-up
B
plan
C
improvement
D
inventory
7) A business __________ is a written description of a business idea and how it will be carried out.
A
venture
B
inventory
C
play
D
proprietorship
8) __________ capital is money provided by large investors to finance new products and new businesses that have a good chance to succeed.
A
short-term
B
venture
C
long-term
D
start-up
9) A designed change that increases the usefulness of a product, service, or process is called a(n) __________.
A
inventory
B
plan
C
proprietorship
D
improvement
10) A(n) __________ is someone who takes a risk in starting a business to earn a profit.
A
start-up
B
proprietorship
C
entrepreneur
D
venture
11) Supervisors who use __________ management are more directive and controlling.
A
controlling
B
core
C
tactical
D
formal
12) __________ communication methods have been established and approved by the organization.
A
leadership
B
formal
C
core
D
expert
13) Supervisors spend most of their time on the __________ management function.
A
implementing
B
planning
C
organizing
D
controlling
14) The important principles that guide decisions and actions in a company are called __________ values.
A
formal
B
core
C
expert
D
tactical
15) __________ influence is the ability to get others to accomplish tasks because group members recognize that the leader has special knowledge in the area.
A
formal
B
core
C
leadership
D
expert
16) The management function that determines to what extent the business is accomplishing the goals it set out to reach in the planning stage is __________.
A
implementing
B
controlling
C
organizing
D
planning
17) The ability to motivate individuals and groups to accomplish important goals is called __________.
A
leadership
B
style
C
implementing
D
controlling
18) Top-level managers such as presidents and chief executive officers, with responsibilities for the direction and success of the entire business, are called __________.
A
leadership
B
expert
C
tactical
D
executives
19) Management __________ is the way a manager treats and involves employees.
A
leadership
B
executives
C
implementing
D
style
20) The __________ management function involves identifying and arranging the work and resources needed to achieve the goals that have been set.
A
controlling
B
implementing
C
planning
D
organizing
*select an answer for all questions
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