Business Basics Test

What are the primary functions of business management?

• a. Planning, organizing, controlling

• b. Strategizing, communicating, planning

• c. Finance, operations, management

• d. Marketing, accounting, human resource management

A(n) ________ is a person who assumes the risk of starting a business.

• a. manager

• b. stakeholder

• c. entrepreneur

• d. private investor

What is the easiest form of business to start and to end?

• a. Sole proprietorship / Sole trader

• b. Limited partnership

• c. Corporation

• d. Cooperative

When managers work to create conditions and systems to ensure that everything and everyone works together to achieve the organization's goals, they are involved in the ________ function of management.

• a. controlling

• b. leading

• c. planning

• d. organizing

In what order do managers typically perform the managerial functions?

• a) organising, planning, controlling, leading

• b) organising, leading, planning, controlling

• c) planning, organising, leading, controlling

• d) planning, organising, controlling, leading

A doctor is an example of__________ labour?

• a. Skilled

• b. Unskilled

• c. Semi-skilled

• d. Entrepreneur

What do you call a style of leadership that takes account of others' views, opinions and ideas?

• a) Laissez-faire

• b) People-oriented

• c) Democratic

• d) Autocratic

Which form of leadership let the employees have more to do and leader do little or no work?

• a) Laissez-faire

• b) Democratic

• c) Authoritarian

• d) A mix of laissez-faire and democratic

Leaders who do not listen to others and makes all the decisions themselves.

• a. Democratic

• b. Laissez-faire

• c. Autocratic

• d. All of the above

which function of management decides the goals and objectives for the company?

• a. staffing

• b. leading

• c. organizing

• d. planning