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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
researching a firm's competitors
B
advertising the features of a product
C
finding out what a buyer wants
D
convincing a buyer to buy
2) Which would probably result if a business reduced its marketing costs?
A
increased consumer awareness of goods and services
B
decreased need for customer contact with businesses
C
increased costs of production
D
decreased variety of consumer goods
3) The Scott Company decided to sell stock to raise capital. Under what form of business organization does the company operate?
A
proprietorship
B
partnership
C
cooperative
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
sole proprietorship.
B
limited partnership.
C
service organization.
D
general partnership.
6) A manager who helps an employee count the money in a cash drawer and prepare a bank deposit is demonstrating:
A
technical skills.
B
creativity.
C
aggressive behavior.
D
natural talent.
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
manager.
B
bookkeeper.
C
cashier.
D
broker.
8) Which do managers often set in order to control the work effort?
A
diversity quotas
B
expense budgets
C
hiring objectives
D
job standards
9) This type of business ownership has a board of directors.
A
Corporation
B
Sole Proprietorship
C
Limited Partnership
D
Partnership
10) In this type of business ownership 1 person is responsible for all decisions and debts.
A
Limited Partnership
B
Partnership
C
Corporation
D
Sole Proprietorship
*select an answer for all questions
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