POBF 7.01 Marketing, 7.02 - Types Of Business Ownership, 7.03 - Management Question Preview (ID: 34109)
POBF 7.01 Marketing, 7.02 - Types Of Business Ownership, 7.03 - Management.
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According to the marketing concept, which option demonstrates customer orientation?
a) finding out what a buyer wants
b) researching a firm's competitors
c) convincing a buyer to buy
d) advertising the features of a product
Which would probably result if a business reduced its marketing costs?
a) increased costs of production
b) decreased variety of consumer goods
c) increased consumer awareness of goods and services
d) decreased need for customer contact with businesses
The Scott Company decided to sell stock to raise capital. Under what form of business organization does the company operate?
a) partnership
b) cooperative
c) corporation
d) proprietorship
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.
A type of business ownership in which one or more of the owners does not have full liability is called a:
a) general partnership.
b) limited partnership.
c) sole proprietorship.
d) service organization.
A manager who helps an employee count the money in a cash drawer and prepare a bank deposit is demonstrating:
a) aggressive behavior.
b) natural talent.
c) creativity.
d) technical skills.
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) broker.
c) cashier.
d) bookkeeper.
Which do managers often set in order to control the work effort?
a) hiring objectives
b) job standards
c) expense budgets
d) diversity quotas
This type of business ownership has a board of directors.
a) Corporation
b) Sole Proprietorship
c) Partnership
d) Limited Partnership
In this type of business ownership 1 person is responsible for all decisions and debts.
a) Sole Proprietorship
b) Partnership
c) Limited Partnership
d) Corporation
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