Vasquez Practicum Fall 24 Semester Exam

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Form of business with unlimited personal legal liability from lawsuits.

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sole proprietorship and general partnership

Front

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

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it guarantees that you will get financing for your business.

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

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a mission statement

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What is the duty of business in terms of social responsibility?

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Contribute to the well-being of society.

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Which statement about a sales invoice is INCORRECT?

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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.

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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.

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Strengths

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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.

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taking out a loan for starting your business.

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

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marketing

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

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corporation

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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.