QUESTION 1 : Unlimited liability is:

A. Associated with a separate legal entity

B. Is the most important part of corporate social responsibility

C. a disadvantage of sole proprietorships and partnerships

D. an advantage of sole proprietorships and partnerships

Question 2

Public corporations:

A. Can place a claim on the owners home in the event of the company going bankrupt

B. Can sell stock to the public

C. Place most of the liability on the sole proprietor

D. Never pay dividends

Question 3

Purchasing common stock gives me ownership of a company that is proportionate to the amount of stock I own

A. True

B. False

Question 4

A ____________________________ occurs when two corporations combine to form a new company

A. merger

B. No answer text provided.

C. Merger

D. No answer text provided.

Question 5

When one company purchases another company it is called an ______________________________________

A. No answer text provided.

B. Acquisition

C. No answer text provided.

D. acquisition

Question 6

Please define Corporate Social Responsibility and explain why it is so important in today's world - can a company afford NOT to be socially responsible today?

Question 7

"Span of control" refers to the number of direct reports that a manager is responsible for

A. True

B. False

Question 8

Which area does NOT fall under the responsibilities of Top Management?

A. Organizing

B. Tactical Planning

C. Strategic Planning

D. Control and Measurement

Question 9

Top Management:

A. Mostly plans

B. Mostly concentrates on product development

C. Mostly helps employees reach their goals

D. Mostly in charge of purchasing

Question 10

Delegating to employees is not just about giving them work to do, it is also about ensuring they stay under management's control

A. True

B. False QUESTION 11 In a centralized organization:

A. Employees have their own authority

B. Authority is concentrated at the top

C. Authority is concentrated at the middle management level

D. Employees make decisions about everything EXCEPT important HR issues