SECTIONC III. TRUE OR FALSE: Circle Tif the statement is true and F if the statement is false (1 point each points) 20 3. 10. 11. Top management is usually highly involved with employees who are engaged in the day-to-day production process. The corporate officers of a corporation are elected by the stockholders. Afirm's mission statement will identify the primary goal of the firm, In recent years, most firms have attempted to centralize authority in the hands T of a few key executives. All of the activities concerned with obtaining money and using it effectively are called financial management. Limited partners in a limited partnership, can lose no more than the money they invest in the business. The two most common forms of business ownership are sole proprietorships and corporations. Exporting represents the purchase of foreign products or services. of the three styles of leadership, democratic is the most effective style. Motivation is the inner drive that directs a person's behavior toward goals. Maslow's Hierarchy of Needs identifies superior compensation as the key to IT employees' motivation. The possibilities of making a sales commission can lead a sales person to do something unethical. IS A code of ethics set by a company can provide the guidelines for employees to IT follow in their daily activities. Monetary policy is the process by which the Federal Reserve controls the nation's money supply by using interest rates. A Franchise is a business that a person pays a fee to use another company's name to conduct the same type of business. Affirmative action programs are designed to help women and minorities. T Middle-level managers are generally responsible for developing an organization's mission. The span of control is the number of employees that reports to a manager. The path that goods travel from producer to the ultimate consumer is called the product life cycle. Trade deficit is when exporting exceeds importing to another country 12. 13 14. 15. 16. 17. 18. 19. 20. Focus