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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
document
B
receipt
C
contract
D
Report
2) A(n) ____ is a proposal to provide a good or service.
A
contract
B
request
C
discussion
D
offer
3) Something of value promised in a contract is called ____.
A
goods
B
articles
C
consideration
D
fees
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
goodwill
B
charity
C
philanthropy
D
good deeds
6) A(n) ____ is a contract to rent something.
A
license
B
hand shake
C
agreement
D
lease
7) When one or more parties do not follow the agreed terms of a contract without having a legitimate reason a ____ occurs.
A
cancellation
B
damaged contract
C
breach of contract
D
broken agreement
8) A(n) ____ contract lists the products or services provided by a business and the price the customer pays in exchange.
A
sales and service
B
partnership
C
lease
D
employment
9) Principles that help define appropriate behavior in a business setting are ____.*
A
laws
B
business rules
C
company standards
D
business ethics
10) ____ is a document that dictates how business should be conducted.
A
proxy
B
code of ethics
C
set of standards
D
handbook
*select an answer for all questions
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