Business Management Fall Final Exam Review 5: Question Preview (ID: 12135)

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The kind of business that would make a good partnership is:
a) A business that offers more than one good or service
b) Businesses that operate more than 8 hours per day
c) A lawyers office
d) All of the above

A business plan:
a) Is only needed when a lender requires it
b) Must be done
c) Is vital to a company’s success
d) Is a waste of time

A government agency create to regulate business is:
a) Food and Drug Administration
b) Securities and Exchange Commission
c) Nuclear Regulatory Commission
d) None of these

Consequences of filing bankruptcy are:
a) Bad credit rating
b) Won’t be able to get a mortgage
c) Can re-file in 4 years
d) Business will close

Regulations that protect businesses are:
a) FTC, SEC, and the Federal Aviation Administration
b) Patents, copyrights, and trademarks
c) Monopoly and Trade Infringement Protection
d) All of these

The government protects the public in two categories:
a) Trademarks and copyrights
b) Food and Drugs and Non-Food Products
c) Automobiles and Housing
d) All of these

A consequence of mishandling information could be:
a) Lawsuit
b) Ruining your credit
c) People mad at you
d) All of these

3 Types of State and Local Regulations are:
a) Taxes, Building Codes, and Zoning
b) Interstate, Intrastate, and Extrastate
c) Trademarks, Copyrights, and Patents
d) None of these

A regressive tax is:
a) Based on the ability to pay
b) The actual tax rate decreases as the taxable amount increases
c) Tax on profits of business and earning of individuals
d) A sales tax that applies to only selected goods and services

Property tax is:
a) A tax on material goods owned
b) A tax levied on the retail price of goods and services at the time they are sold
c) Based on the ability to pay
d) None of these

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