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Principle Of Business
Test Description: Business Law and Social Responsibility
Instructions: Answer all questions to get your test result.
1) A ____ is a legally binding agreement between two or more people or businesses
A
contract
B
Report
C
receipt
D
document
2) A(n) ____ is a proposal to provide a good or service.
A
request
B
contract
C
discussion
D
offer
3) Something of value promised in a contract is called ____.
A
goods
B
articles
C
fees
D
consideration
4) ____ means that a person is legally able to enter into a binding agreement.
A
Sound mind
B
Competence
C
Capacity
D
Qualifications
5) Promoting the welfare of others is called ____.
A
good deeds
B
charity
C
goodwill
D
philanthropy
6) A(n) ____ is a contract to rent something.
A
agreement
B
lease
C
hand shake
D
license
7) When one or more parties do not follow the agreed terms of a contract without having a legitimate reason a ____ occurs.
A
damaged contract
B
cancellation
C
broken agreement
D
breach of contract
8) A(n) ____ contract lists the products or services provided by a business and the price the customer pays in exchange.
A
employment
B
partnership
C
lease
D
sales and service
9) Principles that help define appropriate behavior in a business setting are ____.*
A
business ethics
B
company standards
C
laws
D
business rules
10) ____ is a document that dictates how business should be conducted.
A
proxy
B
handbook
C
set of standards
D
code of ethics
*select an answer for all questions
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