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Business Management And Law Ch 4 (part3)
Test Description: Third part of Chapter 4 Test Review
Instructions: Answer all questions to get your test result.
1) A business owned by one person
A
producer
B
procedure
C
partnership
D
proprietorship
2) The operating procedures for a corporation
A
procedures
B
articles of incorporation
C
corporate bylaws
D
policies
3) Guidelines used in making consistent decisions are called
A
policies.
B
procedures.
C
goals.
D
codes of ethics.
4) People who make the major policy and financial decisions for a corporation
A
shareholders
B
board of directors
C
general partners
D
corporate officers
5) A convenience store is this type of business
A
producer
B
extractor
C
service business
D
intermediary
6) A furniture factory is this type of business
A
service business
B
farmer
C
producer
D
intermediary
7) A business owned and controlled by two or more people who have entered into a written agreement
A
corporation
B
proprietorship
C
service business
D
partnership
8) A written contract granting permission to operate a certain type of business in a certain way
A
bilateral contract
B
franchise
C
incentive contract
D
service contract
9) A dentist's office is this type of business
A
service
B
producer
C
extractor
D
professional
10) Descriptions of the way work is to be done.
A
procedures
B
policies
C
code of ethics
D
bylaws
*select an answer for all questions
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