ITB Ch 5 - Business Organization

The percentage of white workers is expected to increase greatly over the next 5 to 10 years.

• True
• False

The most important role for a business is to provide employment for people.

• True
• False

Almost all businessess buy goods and services

• True
• False

Service jobs are the lowest paying jobs in the US economy.

• True
• False

A corporation's owners have access to profits only if the board of directors approves it.

• True
• False

A cooperative allows all income to be passed through to owners based on their investment.

• True
• False

A goal is a precise statement of results the business expect to achieve.

• True
• False

There is no difference between policies and procedures.

• True
• False

Unity of command is the number of employees assigned to a work task.

• True
• False

Proprietorships must register a business name.

• True
• False