New Business Essentials

People producing goods and services are called

• Human Resources

• Capital Resources

• Labor Resources

• Limited Resources

Which of the following would economists most likely classify as a need?

• A battery-powered automobile

• A part-time job to earn some extra money

• Gasoline for a florist's delivery truck

• A flat-screen television

The largest number of US businesses employ...

• more than 100 employees

• 50-100 employees

• 10-20 employees

• no other than the owner

The form of ownership that gives one person sole control over all business decisions is the

• Corporation

• Proprietorship

• Partnership

• Franchise

The obligation to complete specific work is

• authority

• recognition

• accountability

• responsibility

A competitive advantage that small businesses have over large businesses is

• more consumer research

• lower costs

• attention to unique customer needs

• lower prices

Which of the following is an example of auxiliary storage?

• CPU

• monitor

• software

• DVD

Hidden software code that can damage computer operations is

• a virus

• computer literacy

• piracy

• a displaced worker

Current liabilities are amounts owed that will be paid in less than

• 6 months

• 1 year

• 5 years

• 1 month

The electronic transfer of net pay into an employee's bank account is known as

• tax withholding

• FICA

• direct deposit

• an automated payroll system