

business
Flashcard
•
English
•
KG
•
Practice Problem
•
Hard
Wayground Content
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15 questions
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1.
FLASHCARD QUESTION
Front
What is an LLC?
Back
A Limited Liability Company (LLC) is a business structure that combines the flexibility of a partnership with the liability protection of a corporation.
2.
FLASHCARD QUESTION
Front
What is the role of a secretary in a business?
Back
A secretary assists the director and may make decisions in their absence.
3.
FLASHCARD QUESTION
Front
What does an office clerk do?
Back
An office clerk is responsible for scheduling appointments, data entry, and ordering office supplies.
4.
FLASHCARD QUESTION
Front
What is a limited partnership?
Back
A limited partnership is formed when at least two individuals come together to jointly operate a commercial business.
5.
FLASHCARD QUESTION
Front
What is a line or direct organizational structure?
Back
A line or direct organizational structure is a simple hierarchy where each employee reports to a single supervisor.
6.
FLASHCARD QUESTION
Front
What is the main advantage of an LLC?
Back
The main advantage of an LLC is that it protects its owners from personal liability for business debts.
7.
FLASHCARD QUESTION
Front
What is the difference between a secretary and a clerk?
Back
A secretary assists higher management and may have decision-making authority, while a clerk typically handles administrative tasks.
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