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General Business Final Exam

Authored by Erin O'Toole

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General Business Final Exam
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31 questions

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1.

OPEN ENDED QUESTION

30 sec • Ungraded

Last Name

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2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a leadership style?

Autocratic
Democratic
Laissez-faire
Presidential

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the four functions of management?

Process, Arrangement, Lateral, Coordinate
Planning, Organizing, Leading, Controlling
Controlling, Leading, Organizing, Performance
Production, Organizing, Leading, Coordination

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Which organizational structure is represented in this image?

Matrix
Hierarchy
Hub and Spoke
Line and Staff

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a potential downside of running a sole proprietorship?

The owner must share profits with partners.
The owner is responsible for all business debts.
The business is legally separate from its owner.
The business cannot hire employees.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A group of friends is starting a business designing and selling custom t-shirts. They are debating on which business formation to choose. To save costs, they aren't able to hire an attorney to help with paperwork. What would be the most logical recommendation based on their goal to protect their personal assets while maintaining shared responsibilities?

Create an LLP (same as an LLC only for partnership), as it provides personal liability protection, is easy to set-up on your and flexibility for shared responsibilities.
Form a partnership, as it is easier to set up and protects personal assets in case of financial loss.
Operate as a sole proprietorship, as it simplifies decision-making and equally distributes liability.
Create a corporation, as it allows them to sell shares and maintain liability protection.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which business type best matches a company that repairs electronics for customers?

Retail
Wholesale
Service
Manufacturing

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