GACE Business Education Test I (042): Practice & Study Guide Final Exam

Free Practice Test Instructions:

Choose your answer to the question and click 'Continue' to see how you did. Then click 'Next Question' to answer the next question. When you have completed the free practice test, click 'View Results' to see your results. Good luck!

Question 1 1. Which of the following scenarios BEST illustrate the concept of generalized reciprocity?

Question 2 2. Which of the following terms is defined as giving with the expressed expectation of immediate return?

Question 3 3. A regular customer returns to a family-style dining establishment, and pays $18 for an entrée from the dinner menu, expecting the food to be prepared and delivered in the manner to which the patron is accustomed. From a legal perspective, the type of transaction described above BEST represents which of the following?

Question 4 4. Quantum meruit is defined as which of the following?

Question 5 5. Vocal cues that include things such as pitch, inflection, tone, volume, speed and quality of speech, non-word sounds, pronunciation, enunciation, and even silence are BEST considered which of the following?

Question 6 6. To complete a project as part of a cross-functional team, Joan, who works as an accountant, is required to communicate regularly with Bill, who works in the information technology division of the firm in which they are both employed. The communication between Joan and Bill BEST represents which of the following?

Question 7 7. Under ERISA, a plan administrator who is required to manage covered retirement plans in a manner that is solely in the best interest of employees, even if so doing requires that actions be undertaken that may not be in the employer's best interest, is said to be performing which of the following?

Question 8 8. Which of the following BEST describes how an increase in one economic activity leads to a much greater increase in economic output?

Question 9 9. A startup tech venture needs to raise money to cover costs, so the firm's CEO decides to sell shares of the company to investors in an effort to generate the necessary revenue. The sale of shares of the fictional company described represent which of the following?

Question 10 10. A small firm specializing in software development requires long-term financing, so it applies for and is subsequently approved for a loan from the Small Business Administration (SBA). Which of the following long-term financing sources BEST applies to the fictional example described?

Question 11 11. Which of the following accurately describes the three fiscal policy tools used by the federal government to contract the economy?

Question 12 12. An individual obtains an automobile after making a down payment of $5,000 USD, and subsequently entering into an agreement whereby he or she will make monthly payments of $700 USD for a period of five years, after which the vehicle will be paid for in full by the purchaser. This transaction BEST exemplifies which of the following types of agreements?

Question 13 13. Which of the following third-party roles is considered to be the most aggressive in the conflict resolution process?

Question 14 14. In terms of conflict resolution, which of the following roles is the most active one that a third-party can hold?

Question 15 15. The grapevine is considered to be a subcategory of which of the following?

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GACE Business Education Test I (042): Practice & Study Guide Final Free Practice Test Instructions

Choose your answer to the question and click 'Continue' to see how you did. Then click 'Next Question' to answer the next question. When you have completed the free practice test, click 'View Results' to see your results. Good luck!

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