Browse questions and clear answers across school subjects and test-preparation topics.
A company that lacks sufficient resources to operate in another country may choose to form a(n) _______ by finding a local partner to share the costs and operation of the business. A. importing agreement B. outsourcing partnership C.…
Read more →The amount of goods and services you can buy with a dollar in the global market: A. is not affected by the value of a dollar B. increases during a period of inflation C. increases with a falling dollar value D. increases with a rising…
Read more →A stakeholder is: A. the largest shareholder. B. a shareholder without voting rights. C. any person or entity that is owed money by a business. D. any person or entity that has an interest in the success and outcomes of a business.
Read more →A measure of performance that tells a firm whether they are doing as well as their competitors in generating income from sales is called: A. Return on Sales B. Earnings Per Share C. The Current Ratio D. Return on Equity.
Read more →Aim is a process for ______ the writing of useful business messages. A. publishing B. planning C. reviewing D. critiquing.
Read more →Along with the concern for the business, corporate social responsibility is a business’s concern for: A. the welfare of society B. fair and equitable competition C. the well-being of employees D. the exclusive rights of shareholders.
Read more →What is the “Executive Summary” component of a business plan? (A) A short description of the business along with major goals and objectives. (B) An outline of major objections to the plan. (C) A list of the company officers who will…
Read more →U.S. business people are often accused of ethnocentricity, which is the belief that ______ A) Cultural norms and practices in other countries are superior to those in the U.S. B) Their own culture and practices are superior to those of…
Read more →Smaller firms based in the United States can learn more about international business opportunities from the work done by CIBERS, which are located at: A. the capital city in each of the 50 states B. leading business schools in the United…
Read more →Understanding where to locate your business, who your target market is, and how to reach them can be accomplished through: A. an inexpensive market research study B. a comprehensive financial plan C. an experienced management team D. a…
Read more →What makes business people more accountable for their actions than knowing what is ethical? A. Incentives B. Laws C. Higher salaries D. Ethics.
Read more →What type of business is a sole proprietorship? A. A business with two or more owners B. A business that sells only one product C. A business owned and managed by one person D. A business with many stockholders.
Read more →What are business cycles? A. The reporting periods used by firms that report financial information to the government. B. The periodic rises and falls that occur in economies over time. C. The quarterly time periods in which governments…
Read more →The functions of business that are changing due to information technology include: A. Operations B. Accounting C. Sales and service D. All functions.
Read more →The question “What business are we in?” concerns which of these strategies? (A) Functional-level. (B) Corporate-level. (C) Business-level. (D) None of the choices. (E) All of the choices.
Read more →What three items are included in the “Management Team” section of a business plan? 1) The goals and objectives the management team must carry out. 2) The job descriptions of any listed positions. 3) The salary requirements for all team…
Read more →A well-written business plan will include which three items? A definition of the level of flexibility An explanation of the business An estimate of income and expenses A loosely phrased rationale An analysis of the competition
Read more →A comprehensive business plan will include which three sections? Cover letter Company background Executive summary
Read more →Which of the following is a key component of a business plan? Check all that apply. Financial statements Executive summary Marketing plan Lean Canvas Pitch Deck Organizational structure Financial plan
Read more →What are the two components of a business plan? (select all that apply) A precise statement of the rationale for the business A detailed explanation of how the business will achieve its goals A step-by-step explanation of how the business…
Read more →What kind of business organization is easy to start and stop and involves sharing the work? A. Sole proprietorship B. Partnership C. Limited liability company D. Corporation
Read more →What is the primary purpose of a business plan? (A) To establish a company’s mission statement. (B) To outline a company’s financial projections. (C) To describe a company’s products and services. (D) To provide a roadmap for a company’s…
Read more →What is the definition of Business Management? A. Planning, organizing, directing, and controlling resources B. Only planning and organizing resources C. Only directing and controlling resources D. None of the above
Read more →An entrepreneur is a person who organizes, operates, and assumes the risk for a business venture. A. True B. False
Read more →A business plan is a document describing the start-up costs and operating expenses of a new business. T. True F. False
Read more →How does span of control impact managerial effectiveness? A) It determines the number of employees a manager supervises B) It eliminates the need for supervision C) It reduces decision-making authority D) It increases bureaucratic…
Read more →A business that is owned and operated by a single individual is known as a ______ proprietorship
Read more →The organization and management section of a business plan should include: 1. Industry description and outlook 2. Profiles of the management team 3. Target market information 4. All of the above
Read more →In which of the following business organizations is there a separation of ownership and management? A. Sole-proprietorship B. Partnership C. HUF D. Company
Read more →Which of the following business types is owned by the shareholders and formed under legal guidelines? A. Cooperative B. Sole proprietorship C. Corporation D. Franchise
Read more →Which of the following business ownership structures offers the best liability protection but higher taxes? A. Nonprofit corporation B. C corporation C. Partnership D. Sole proprietorship
Read more →Which of the following business ownership structures is the simplest and easiest to set up? (A) A partnership (B) An LLC (C) A sole proprietorship (D) A corporation
Read more →To be complete, a business communication should: (A) repeat main points so that readers know what is important. (B) be accurate. (C) be specific. (D) provide all relevant information
Read more →Select all that apply: What are the types of goals in business? (Choose every correct answer) A. Long-term B. Noncommittal C. Short-term D. Nonspecific
Read more →Three common forms of business organizations include ______
Read more →Select all that apply: What are reasons for writing a business plan? To hire employees to gain financial backing to work out the specifics
Read more →Digital marketing helps businesses do what? (Select all that apply) Inspire loyalty Build trust Process online transactions Better serve customers
Read more →Business buyers use which of the following to make decisions? (Select all that apply) Emotion Total product offer Product specifications Rational processes
Read more →Examples of business transactions include: (Select all that apply) net income. purchases. liabilities. payments
Read more →Select the correct answer. Which of these businesses is a partnership? A. The Lin and Ching families’ Chinese restaurant B. Karton’s furniture-manufacturing business C. Jane Larson’s gift shop
Read more →Successfully starting and running a business requires drive, talent, and a clear vision of a long-range: A. goal B. problem C. loss
Read more →When there is a difference between a goal and the actual outcome, this is known as a(n) ________. 1. multiple choice question 2. ethical dilemma 3. failure 4. business plan 5. problem
Read more →The financial analysis component of a business plan is to describe: A. How your business will be organized and what type of management or department structure your business will have. B. The “big picture” behind your business, what your…
Read more →What information goes into the management section of a full business plan? A. Key roles, team members, mentors, and advisers B. Operational issues like sourcing, acquisition of materials, production of products, packaging, distribution,…
Read more →What is included in the Financial Plan section of a business plan? a. The industry, structure, products, services b. A description of potential customers and competitors c. Income and cash flow, balance sheets, and financial projections…
Read more →A business plan is useful to: A. Think through all aspects of the business B. Secure financing C. Set specific objectives D. All of the above
Read more →The executive summary component of a business plan is to describe: A. Where the funds to start and operate your business will come from, when you expect to see profit, and how much profit you expect to see. B. The size of the market, how…
Read more →The business plan should be prepared by the entrepreneur, although ______. a) it is a lot of work and not worth it b) it is really not helpful for a business start-up c) the entrepreneur may not have the time to do it themselves d) it…
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