2005 SLC Intro – Flashcards
Unlock all answers in this set
Unlock answersquestion
The purpose of a Better Business Bureau is to protect consumers by promoting ethical conduct by businesses
answer
true
question
Convenience goods are usually higher priced items and the consumer spends a lot of time considering their purchase
answer
false
question
social marketing involves getting ideas across to consumers rather than selling something
answer
true
question
partners always share profits and losses equally
answer
false
question
to transfer ownership in a corporation, it is only necessary to transfer shares of stock
answer
true
question
line organization uses a dual chain of command
answer
false
question
states and local governments have used ____ to limit and control those who plan to enter certain types of businesses
answer
licensing
question
one function of a Better Business Bureau is to
answer
provide consumers with free buying guidelines
question
consumer behavior involves all of the following EXCEPT
answer
the way products are made
question
employers who make accommodations for physically challenged workers are complying with regulations of the
answer
ADA
question
all of the following are examples of sociological influences in consumer decisions making except
answer
motivations
question
Carl is worried about the disadvantages of starting a sole proprietorship. Carl is probably most concerned with
answer
the lack on limits on his personal liability
question
which of the following entities is liable for a corporation's debts?
answer
the corporation itself
question
a corporation is charted under
answer
state laws
question
a basic principle involving stockholders is that
answer
an ownership interest in a corporation does not confer legal right to manage the firm
question
S corporations are taxed as
answer
partnerships
question
in a limited partnership, which of the following remains bound by all debts to the business
answer
general partner
question
a common stockholder
answer
casts one vote per share at stockholders' meeting
question
to be eligible to be an S corporation, a firm must
answer
have no nonresistant alien stockholders
question
work behaviors are important to developing a career and include all of the following EXCEPT
answer
manual dexterity
question
which of the following is designed as a career-planning tool and is published every five years by the federal government?
answer
occupational outlook handbook
question
the sector of the U.S. workforce with the largest projected growth is the
answer
service industry
question
a document enclosed with a letter of application summarizing important job related information is a
answer
resume
question
which of the following is a non-for-profit financial institution formed by people who have like occupations or live in the same community?
answer
credit union
question
which of the following is a federal agency that protects depositors' money in case of the failure of the bank or financial institution
answer
federal deposit insurance company
question
a legal commitment by a bank to lend up to maximum amount is known as
answer
a revolving credit agreement
question
all of the following are advantages of checking accounts EXCEPT
answer
checking accounts always bear interest
question
a budget is an example of a
answer
short-range plan
question
Henry Rodgers wishes to create greater enthusiasm among other employees in his industrial distribution business. A widely used approach that he might take is
answer
empowerment of employees
question
Marcy Tallman, who runs a home sprinkler business, has a group of employees who work in production and in installation. if she decides to use work teams as part of her leadership approach, she must increase
answer
independence
