Which of the following is necessary for a contract to be legally binding?

Business Admin Core Quiz 1001

Quiz
•
Business
•
11th Grade
•
Easy
Melanie Elliott
Used 2+ times
FREE Resource
100 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Written format only
Agreement of both parties without exchange of value
Offer, acceptance, and consideration
Signature by a third-party witness
Answer explanation
For a contract to be legally binding, it must include an offer, acceptance, and consideration. This means both parties agree to the terms and there is an exchange of value, making this choice the correct answer.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of law primarily protects consumers from deceptive business practices?
Tort law
Employment law
Consumer protection law
Corporate law
Answer explanation
Consumer protection law is specifically designed to safeguard consumers from deceptive business practices, ensuring fair treatment and transparency in the marketplace.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In business law, what is "intellectual property"?
An employee's physical possessions
A company's physical office buildings
Creations of the mind like inventions, brand names, and literary works
Office supplies owned by a business
Answer explanation
Intellectual property refers to creations of the mind, such as inventions, brand names, and literary works. This distinguishes it from physical assets like office supplies or buildings.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is active listening?
Waiting to speak until the other person finishes
Taking notes during a conversation
Listening carefully to understand and respond appropriately
Agreeing with everything the speaker says
Answer explanation
Active listening involves fully concentrating on what is being said, understanding the message, and responding appropriately. This is best captured by the choice 'Listening carefully to understand and respond appropriately'.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a characteristic of assertive communication?
Speaking in a quiet voice
Clearly expressing one’s opinions and feelings without aggression
Avoiding eye contact
Ignoring the other person’s viewpoint
Answer explanation
Assertive communication involves clearly expressing one’s opinions and feelings without aggression. This contrasts with speaking quietly, avoiding eye contact, or ignoring others' viewpoints, which are not assertive behaviors.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Nonverbal communication includes all the following except:
Body language
Eye contact
Tone of voice
Writing an email
Answer explanation
Nonverbal communication encompasses body language, eye contact, and tone of voice, which convey messages without words. Writing an email, however, is a form of verbal communication as it uses written words.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A customer complains about a product defect. What should a representative do first?
Offer a refund immediately
Defend the product's quality
Listen carefully and empathize with the customer’s concern
Refer the customer to the company website
Answer explanation
Listening carefully and empathizing with the customer’s concern is crucial. It shows respect for their feelings and helps build rapport, allowing the representative to address the issue more effectively.
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