Principles of Business

Indicate whether the statement is true or false. 1. Not all marketing is directed at consumers.

• True

• False

Indicate whether the statement is true or false. Personalized promotion is the most effective and least expensive form of marketing communication.

• True

• False

Indicate whether the statement is true or false. 3. To prepare a budget, a business must be able to identify and predict the amount of each source of income and each type of expense.

• True

• False

Indicate whether the statement is true or false. 4. With group insurance, a large number of employees and their family members are covered under one policy.

• True

• False

Indicate whether the statement is true or false. 5. All entrepreneurship opportunities emerge from inventions and innovations.

• True

• False

Indicate whether the statement is true or false. 6. Every manager gives the same amount of time and attention to each of the management functions.

• True

• False

Indicate whether the statement is true or false. 7. All businesses have the same business operations.

• True

• False

Indicate whether the statement is true or false. 8. Most businesses try to keep much more inventory on hand than they will need in the immediate future.

• True

• False

Indicate whether the statement is true or false. 9. The person or company buying an insurance policy is called the insurer.

• True

• False

In the United States, nearly as many small businesses close as begin each year.

• True

• False