1. Business Management Technical Skills

Front

Which of the following is a characteristic of a corporation? Owned by a single individual, Owners have limited liability, Cannot issue stock, Does not pay corporate taxes

Back

Owners have limited liability

Front

Which type of business structure combines the flexibility of a partnership with the liability protection of a corporation?

Back

Limited liability company (LLC)

Front

A sole proprietorship is best described as:

Back

A business owned and operated by one individual.

Front

Which type of business allows shareholders to elect a board of directors to oversee operations?

Back

Corporation

Front

In a partnership, the profits and losses: Are always distributed equally, Are shared based on the partnership agreement, Are taxed at the corporate level, Cannot be distributed to individual partners.

Back

Are shared based on the partnership agreement.

Front

What is the primary purpose of a sales forecast?

Back

To estimate future sales revenue.

Front

Quantitative data in business analysis refers to:

Back

Data expressed in numbers, such as revenue or sales figures.

Front

Which tool(s) is commonly used to analyze business performance? Options: SWOT analysis, Balance sheet, Both A and B, None of the above

Back

Both A and B

Front

What does the “T” in SWOT analysis stand for?

Back

Threats

Front

Investigating data trends in business is important because:

Back

It helps identify patterns to inform decision-making.