Please identify the choice that best describes the following multiple choice answers by providing the correct letter on the line provided: (Each correct answer is worth 2 points) A wholesaler provides all of the following services to manufacturers except: 1) (A) Production (B) Warehousing (C) Delivery to retailers (D) Sales expertise (E) Feedback from retailers 2) Which of the following categories of financial ratios measures how well management uses it assets to generate sales? (A) Liquidity (B) Sales Leverage (C) Profitability (D) Efficiency (E) Financial Leverage 3) When a company delegates more authority to its employees, this strategy is referred to as: (A) Theory X Management (B) Empowerment (C) Theory Y Management (D) Maslow's Hierarchy of Needs (E) None of the above mctions 4) In an economy, businesses are privately owned and profit-seeking entrepreneurs are free to start businesses that they believe will serve the needs of people is known as? (A) Capitalism (B) Socialism (C) Communism (D) Feudalism (E) Pluralism 5) A person who organizes, manages, and assumes the risk of starting a business is callec (A) Purchasing Agent (B) Executive (C) Controller (D) Facilitator (E) Entrepreneur 6) A business plan includes all of the following except: (A) A financial plan (B) A marketing plan (C) An assessment of the business environment (D) An efficiency plan (E) A management plan 7) Jim has an idea for a new business. He wants to get started as soon as possible with a minimum amount of expense. He also wants to be his own boss, and wants to keep all of the profits he expects to earn for himself. These goals suggest that Jim would favor setting up his firm as a: (A) Public Corporation (B) Sole Proprietorship (C) Limited Liability Company (D) General Partnership (E) Distributorship In order for management to evaluate an employee's performance, managers must first 8) establish: (A) Contingency Plans (B) Standards and Expectations (C) The Appropriate Leadership Style (D) The Relevant Conceptual Skills (E) The Integration of Management Functions 9) Ernie wants to invest in a partnership, but only be liable to the extent of his contribution. His responsibility would not extend to management, but he would share in the company's profits and losses. What type of function would Ernie serve in this company? (A) A General Partner (B) A Franchisor (C) A Limited Partner (D) An Unlimited Partner (E) A Stockholder 10) This is the central bank of the United States and it is responsible for regulating and controlling the money supply: (A) The United States Treasury Department (B) The Congressional Finance Committee (C) The National Bank (D) The Presidential Finance Committee (E) The Federal Reserve System
