Chapter 5 Flashcard

Front

What is the primary focus of professional organizations?

Back

To support professional development and networking.

Front

Which of the following best describes business associations? Options: Organizations that focus on cultural preservation., Entities that represent the interests of businesses in a specific industry., Organizations that support professional networking., Groups that advocate for workers' rights.

Back

Entities that represent the interests of businesses in a specific industry.

Front

What role do trade associations play in their respective industries? Options: They support individual career development., They promote the interests of their members and establish industry standards., They focus on cultural preservation and community engagement., They provide legal representation for workers.

Back

They promote the interests of their members and establish industry standards.

Front

What is the main goal of labor unions?

Back

To advocate for workers' rights and interests.

Front

Which organization represents workers in the automobile industry? Options: The Smithsonian Institution, The United Auto Workers (UAW), The National Retail Federation (NRF), The American Medical Association (AMA)

Back

The United Auto Workers (UAW)

Front

What is the primary focus of cultural organizations?

Back

To promote and celebrate cultural heritage, arts, and community engagement.

Front

Which organization is known as a prominent cultural organization? Options: The Smithsonian Institution, The American Bar Association (ABA), The National Retail Federation (NRF), The American Medical Association (AMA)

Back

The Smithsonian Institution

Front

How do nonprofit organizations contribute to society? Options: By focusing solely on individual career advancement., By supporting various community, industry, and cultural initiatives., By promoting political agendas., By generating profits for shareholders.

Back

By supporting various community, industry, and cultural initiatives.

Front

Which of the following statements accurately describes a sole proprietorship? Options: It is the simplest form of business organization, owned by one individual., It is a type of corporation with limited liability., It is a business owned by multiple individuals., It operates under a franchise agreement.

Back

It is the simplest form of business organization, owned by one individual.

Front

What is a key disadvantage of a sole proprietorship? Options: Limited control over business decisions, Unlimited liability for business debts, Difficulty in raising capital, Complex regulatory requirements

Back

Unlimited liability for business debts