Unit 2 Review - Principles of Business

Front

Intermediaries are businesses involved in selling the goods and services of producers to consumers and other businesses.

Back

True

Front

Corporations are owned by at least two shareholders.

Back

False

Front

Is it true that span of control is the number of employees who are assigned to a particular work task manager?

Back

True

Front

A mission statement describes the reason a business exists and what it wants to accomplish. True or False?

Back

True

Front

Outsourcing removes work from one company and sends it to another company that can complete it at a lower cost.

Back

True

Front

A worker who has no explicit or implicit contract for long-term employment is a

Back

contingent worker

Front

Most businesses in the United States are

Back

proprietorships

Front

The right to make decisions about how specific work should be completed is called

Back

authority

Front

A designed change that increases the usefulness of a product is a(an)

Back

improvement

Front

This management function involves identifying and arranging the work and resources needed to achieve goals.

Back

organizing