Business 321: Small Business Management Final Exam
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Question 11.Alex uses Morse Code to ask Tyler for a vintage toy at the price of $250. Tyler sends back --- -.- which translates to 'ok'. He ships the toy the next day. According to the UCC, is there acceptance?
Question 22.Toys And Toys Corp. made a spinning top that had lead paint. Though nobody has been hurt yet, lead is dangerous to children. What theory of product liability would this fall under?
Question 33.George, a building contractor, is charging $10,000 to remodel a kitchen. He does all of the work except for the backsplash. What is George owed?
Question 44.Tisha has $100,000 in startup funds. Half will be used for staff. She is deciding how to use the other half. This is an example of which of the following?
Question 55.Maribeth has $100,000 that she can use whenever she needs. She only has to pay back what she borrows. This is an example of which of the following?
Question 66.Angel investors generally prefer which type of investment?
Question 77.How is a LLC formed?
Question 88.Natasha, Jen, and Alex are investing in the production of a movie. They want the company to have flexibility, be able to be easily dismantled after the movie is complete, and give each of them protection from liability. What business structure would be best for them?
Question 99.Which business structure offers the least personal protection to the owner?
Question 1010.What is the ability to take all the factors of production and use them to create goods or services?
Question 1111.In October of 2016, Melody sold 100 prototypes of her product using a fundraising platform. By February of 2017, she was selling 25,000 items and looking for investors so that she could buy a factory warehouse. What type of entrepreneurship is this?
Question 1212.Which of the following is a central characteristic of entrepreneurship?
Question 1313.What are the four functions of a manager?
Question 1414.Smartpeople University uses a student survey to gauge how well it is doing. From the information, the university makes changes to better serve the student. This is an example of which of the following?
Question 1515.Cari reports income at the time that she earns it. What form of accounting is she using?
Question 1616.Examining an employee's personal life too closely and too often can have which of the following negative effects on a company?
Question 1717.What group enforces Title VII of the Civil Rights Act of 1964?
Question 1818.Trisha has taken the long-term vision and goals of the company and blended them with the resources that are available through HR. What process is Trisha using?
Question 1919.Tyler's Tires has a marketing objective of getting every new car to start using its tires within a year. This would most likely violate which of the SMART approach components?
Question 2020.For $100, Mary's Muffins can sell 2,000 muffins at $4 each. This would place the product into which category of the portfolio matrix?
Question 2121.In which section of a marketing plan would you find an examination of your competitors?
Question 2222.Why might an unethical behavior be legal?
Question 2323.The Pillow Company is trying to balance stakeholders' needs with protecting the environment. This is an example of which of the following?
Question 2424.Which of the following is true of a law?
Question 2525.After everything is posted, you run a trial balance. What do you do after this?
Question 2626.Daniel is thinking of investing in Vanessa's Sportswear. What financial report would Daniel use to find out how much money Vanessa made this year?
Question 2727.What are the steps called that ultimately lead to a post-closing trial balance?
Question 2828.Which of the following is an example of primary data?
Question 2929.Cost, quality, and ease are the three categories of which value proposition?
Question 3030.Sara is targeting 'go-getters' for her new product. What type of market segmentation is Sara using?
Question 3131.What are the two largest components of a feasibility study?
Question 3232.Which of the following is the greatest disadvantage of purchasing a franchise?
Question 3333.According to the SBA, after 5 years, approximately how many small businesses survive?
Question 3434.Bill's Balloons sells its balloons at the same price at its competitor. What type of pricing is Bill using?
Question 3535.It will cost $100,000 to launch a new product. What type of analysis should the company do to decide whether or not to develop the new product?
Question 3636.At what stage of the product life cycle will sales plateau?
Question 3737.Which of the following are most likely to use financial statements?
Question 3838.Which of the following is true of financial statements?
Question 3939.What would a current ratio of 3 indicate?
Question 4040.There is the possibility that the government will place fees on the importation of raw materials that you need for your company. Where would this be identified in a SWOT analysis?
Question 4141.What is a company's plan to generate revenue through operations, with the goal of making a profit?
Question 4242.Typically, a bank would most likely look first at which component of a business plan?
Question 4343.How could a delivery company transfer risk of loss from accidents?
Question 4444.By definition, short-term financing must be paid back in what time-frame?
Question 4545.Natalie founded, owns, and operates Amazing Stuff, Incorporated. What happens to the company after Natalie dies?
Question 4646.According to the Myers-Briggs assessment tool, a person that is NOT Sensing would be which of the following?
Question 4747.Mike has been with the company for 25 years. He is friendly and knowledgeable. What type of leadership does Mike have?
Question 4848.What document lists the tasks and responsibilities that are expected for a certain position?
Question 4949.Marketing is made up of which four elements?
Question 5050.Kim is trying to make a decision but is not sure if requires her to determine if it involves an ethical choice. She is exploring which of the following?
Business 321: Small Business Management Final Exam Instructions
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