Vasquez Practicum Fall 24 Semester Exam

Front

Select the form of business (or businesses) in which there is unlimited personal legal liability from lawsuits related to the business: sole proprietorship only, general partnership only, corporation only, choices A and B.

Back

choices A and B

Front

A business plan is important for a new business for all of the following reasons EXCEPT: it makes you think about all aspects of your business. it can help you communicate your ideas to others. it guarantees that you will get financing for your business. it can serve as a tool for managing your business.

Back

it guarantees that you will get financing for your business.

Front

Which of the following defines why an organization exists and what it seeks to accomplish? a break-even analysis, a mission statement, a SWOT analysis, an organization chart

Back

a mission statement

Front

Social responsibility is the duty of business to

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contribute to the well-being of society.

Front

Which of the following statements about a sales invoice is INCORRECT?
It should include the name, address and contact information of the customer.
It should include the name, address, and contact information of the vendor.
Must be signed by the customer in order for it to be a legally enforceable document.
The amount of the invoice will determine whether it needs to be signed by the customer in order for it to be a legally enforceable document.

Back

The amount of the invoice will determine whether it needs to be signed by the customer in order for it to be a legally enforceable document.

Front

What is the correct statement about SWOT Analysis? Strengths, Weaknesses, Opportunities, Threats

Back

Strengths

Front

Each of the following situations is an example of business risk, except: a customer slips and falls on your premises; the breakdown or theft of key equipment, insufficient or failed processes; losses due to a declining reputation resulting from incidents that are viewed as dishonest, disrespectful or incompetent; taking out a loan for starting your business.

Back

taking out a loan for starting your business.

Front

Promoting goods and services to customers is a function of

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marketing

Front

Which of the following forms of business ownership allows a company to issue stock to raise money?
Options: sole proprietorship, corporation, partnership, franchise

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corporation

Front

A Bcc notation in an email is

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used to send a copy of a message to someone else without the primary recipient of the e-mail being aware.