Test Review 2 Question Preview (ID: 38940)


Business Law, Marketing, Business Formation, Business Functions. TEACHERS: click here for quick copy question ID numbers.

Intellectual Property includes all of these except for...
a) Music
b) Art
c) Inventions
d) Common Knowledge

Which is NOT an example of a trade secret.
a) Kentucky Fried Chicken Seasoning
b) Coca-Cola Recipe
c) WD-40
d) French Fries

Contracts ALWAYS have to be in writing
a) True
b) False
c)
d)

Body of Law that relates to crime.
a) Criminal Law
b) Civil Law
c) Tort Law
d) None of the Above.

Protect names and identifying marks of products and companies.
a) Patents
b) Trademarks
c) Branding
d) Business Law

Protects inventors of a product.
a) Trademarks
b) Patents
c) Trade Secrets
d) FDA

Allows one person, known as an agent, to act on behalf of another person is called the...
a) Boss
b) Power of Attorney
c) Supervisor
d) Legal Obligation

Shares of ownership in a corporation is called...
a) Price Tag
b) Limited Liabilities
c) Assets
d) Stock

A contractual agreement to sell a company's products or services in a designated geographic area is called...
a) Franchise
b) Sales Contract
c) Partnership
d) Limited liability contract

____turn raw or processed goods into a finished product.
a) Producers
b) Processors
c) Manufacturers
d) Retailers

An example of a franchise...
a) Wendy's
b) Marion City Schools
c) Jer-Zee Drive-In
d) Walmart

Promise to do something in exchange for something in return, usually money is called...
a) Acceptance
b) Bribe
c) Scandal
d) Offer

An example of a benefit would be....
a) McDonald's Value Menu.
b) An Iphone with retinal display.
c) Wendy's frosty.
d) A product saving customer time and/or money.

A business owned by one person.
a) Sole Proprietorship
b) Loan Shark
c) Landlord
d) Manager

A niche is...
a) A very specific and targeted market whom a business tries to sell its products to
b) A french word for business
c) The ability to influence others
d) A form of government

Non-profits main focus is to...
a) provide a service to better society
b) make as much money as possible
c) cure cancer
d) provide financial assistance to their franchisees

An example of an intermediary is...
a) Real Estate Agent
b) Cop
c) Teacher
d) Car Salesman

A group of individuals or smaller groups that join together to achieve some common goals.
a) Partnership
b) Cooperative
c) Limited Liability
d) Team

Lawsuits are usually filed under.......because the person is usually entitled to restitution.
a) Tort Law
b) Criminal Law
c) Traffic Law
d) N/A

A business that is operated by two or more principles for the purpose of making a profit.
a) Partnership
b) Sole Proprietorship
c) Limited Liability Company
d) Corporation

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