Vasquez Practicum Fall 24 Semester Exam

Front

Form of business with unlimited personal legal liability from lawsuits: sole proprietorship, general partnership, corporation.

Back

sole proprietorship and general partnership

Front

A business plan is important for a new business for all of the following reasons EXCEPT:

Back

it guarantees that you will get financing for your business.

Front

What defines why an organization exists and what it seeks to accomplish?

Back

a mission statement

Front

Social responsibility is the duty of business to

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contribute to the well-being of society.

Front

Which statement about a sales invoice is INCORRECT?

Back

The amount of the invoice will determine whether it needs to be signed by the customer in order for it to be a legally enforceable document.

Front

SWOT Analysis is an effective way of identifying a company's strengths and weaknesses, and of examining the opportunities and threats the company faces. Select the statement below about SWOT Analysis that is correct.

Back

Strengths

Front

Identify the situation that is NOT an example of business risk:

• a customer slips and falls on your premises.
• the breakdown or theft of key equipment, insufficient or failed processes.
• Losses due to a declining reputation resulting from incidents that are viewed as dishonest, disrespectful or incompetent.
• taking out a loan for starting your business.

Back

taking out a loan for starting your business.

Front

Promoting goods and services to customers is a function of: distribution, merchandising, marketing, purchasing

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marketing

Front

Which form of business ownership allows a company to issue stock to raise money?

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corporation

Front

A Bcc notation in an email is

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used to send a copy of a message to someone else without the primary recipient of the e-mail being aware.