1.Which business type has a notable characteristic that it serves as a conduit for its net income, passing all of its profits or losses through to the individual shareholders, which means that its income is taxed only once at the individual tax rate? (Points : 2)

C Corporation S Corporation 501-C3 Non-Profit Corporation LLC Partnership Sole Proprietorship

Question 2.2.The process of influencing others to achieve group or organizational goals is the definition of what management term? (Points : 2)

management leadership interpersonal influence supervision

Question 3.3.In which product life cycle stage, does the competition become more fierce? (Points : 2)

Introduction growth maturity decline

Question 4.4.Expert is defined as power and influence based on expertise. These individuals have specialized knowledge such that others come to depend on them. (Points : 2)

True False

Question 5.5.Managers tend to have a short-term perspective (daily operations), leaders tend to have a long-term perspective (strategic goals 2-5 years). (Points : 2)

True False

Question 6.6.First-line managers are responsible for setting objectives consistent with organizational goals and planning and implementing subunit strategies for achieving these objectives. (Points : 2)

True False

Question 7.7.Middle managers are typically responsible for coordinating and linking groups, departments, and divisions within a company. (Points : 2)

True False

Question 8.8.Which letters of the SWOT are usually external? (Points : 2)

Opportunities and Strengths Weaknesses and Threats Opportunities and Threats Strengths and Threats

Question 9.9.Legitimate is defined, as the person who has the power to reward employees in some way they deem valuable will have reward power. (Points : 2)

True False

Question 10.10.Each agent for the business can legally bind the firm as well as the other agents to contracts, even without the other agents' knowledge or consent. Each agent is taxed as an individual based on distributed share of profit from the business. Which business type does this describe? (Points : 2)

501-C3 Non-Profit Corporation LLC C Corporation S Corporation Sole Proprietorship Partnership

Question 11.11.At which stage of the product life cycle do profits peak? (Points : 2)

advancing stage growth stage maturity stage exit stage

Question 12.12.Break-even analysis determines the needed sales volume to be reached in order to cover all costs, and before any profits are realized. (Points : 2)

True False

Question 13.13.States recognize this partial liability form like a corporation has pass-through taxation benefits but allows for different types of members including other corporations. For tax purposes, the Federal government does not recognize this corporation type. Which type of corporation is it? (Points : 2)

Sole Proprietorship S Corporation 501-C3 Non-Profit Corporation C Corporation Partnership LLC

Question 14.14.What is net worth? (Points : 2)

Bank card balance Amount owed on an automobile Assets minus liabilities Mortgage owed

Question 15.15.Coercive is defined as an employee acts out of fear of repercussions if they do not comply. (Points : 2)

True False

Question 16.16.There is one leadership style as a "best" leadership style for all situations and employees. (Points : 2)

True False

Question 17.17.This is the least regulated form of business ownership. Control and liability lies with the proprietor. Which business type is this? (Points : 2)

LLC S Corporation 501-C3 Non-Profit Corporation C Corporation Partnership Sole Proprietorship

Question 18.18.Reward involves the legitimate authority someone has to control others and resources based on their title/position in the company (Points : 2)

True False

Question 19.19.What is a term for a sub-group of people or firms that share characteristic(s) and have product needs in common? (Points : 2)

market segment psychographic group customer base client profile

Question 20.20.Most businesses are organized as what type of business? (Points : 2)

Not-for-profit Corporation Partnership Sole proprietorship

Question 21.21.Which business form has the greater liability? (Points : 2)

Sole proprietorship a Corporation a 501C3 Benefit Corporation

Question 22.22.When manufacturers aggressively try to convince wholesalers, who in turn convinces retailers to carry their products, which type of marketing strategy does this describe? (Points : 2)

trade-off strategy push strategy pull strategy personal selling strategy

Question 23.23.Economic issues are one of the major areas that can affect a companys wealth. (Points : 2)

True False

Question 24.24.An entry level employee typically reports to what level of management? (Points : 2)

Division-level manager Mid-level manager Top-level manager First-level manager

Question 25.25.Which term is defined as the management function concerned with defining goals for future organizational performance and deciding on the tasks and resources needed to attain them? (Points : 2)

Management Planning Organizing Controlling