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A characteristic of a sole proprietorship is that the owner

• has access to unlimited funds.

• receives all of the profits.

• transfers the risk.

• delegates the functions.

Which is not a reason why human resource management is important to the success of a business:

• Creating jobs for the company.

• Eliminating turnover.

• Staffing the business.

• Reducing compensation.

Which would probably result if a business reduced its marketing costs?

• Increased costs of production

• decreased variety of consumer goods

• increased consumer awareness of goods and services

• decreased need for customer contactt with businesses

A manager who helps an employee count the money in a cash drawer and prepare a bank deposit is demonstrating:

• Aggressive behavior.

• Natural talent.

• Creativity.

• Technical skills.

The Scott Company decided to sell stock to raise capital. Under what form of business organization does the company operate?

• Partnership

• Cooperative

• Corporation

• Proprietorship

A type of business ownership in which one or more of the owners does not have full liability is called:

• General partnership.

• Limited partnership.

• Sole proprietorship.

• Service organization.

John says that his job duties include planning what will be done, organizing and directing workers, solving problems related to worker productivity. His job can best be described as a:

• Manager

• Cashier

• Bookkeeper

• Broker

Which do managers often set in order to control the work effort?

• Hiring objectives

• Job standards

• Expense budgets

• Diversity quotas

According to the marketing concept, which option demonstrates customer orientation?

• Finding out what a buyer wants

• Researching a firm's competitors

• Convincing a buyer to buy

• Advertising the features of a product

How frequently should the operations function, which consists mainly of activities, be performed?

• Monthly

• Weekly

• Daily

• Yearly