Intro to Business Final

Front

Do all businesses manufacture products?

Back

False

Front

When you purchase stock you are becoming part owner in a corporation.

Back

True

Front

Many businesses fail in their first year of operation.

Back

True

Front

The people who make the major policy and financial decisions for a corporation are called the: Stockholders, Owners, Board of Directors, Partners

Back

Board of Directors

Front

A(n) __________ is a written contract granting permission to operate a business to sell products and services in a set way.

Back

Franchise

Front

About what percentage of U.S. businesses employ more than 100 workers? Options: Less than 1 percent, 5 percent, 20 percent, 35 percent

Back

Less than 1 percent

Front

Every business performs all of the following activities EXCEPT: Maintaining business records, Raising capital, Buying goods and services

Back

Manufacturing products

Front

Which of the following type of business is NOT a producer? Options: Pharmacy, Appliance factory, Coal mine, Chicken farm

Back

Pharmacy

Front

Which major category of business is the fastest-growing in the U.S. economy? Options: Producer, Manufacturer, Intermediary, Service business

Back

Service business

Front

Proprietorships: Are the easiest form of business to start

Back

Proprietorships are the simplest type of business structure, requiring minimal formalities to establish.