Intro to Bus. Final Practice

Operations managers refer to the development of a plan for converting an idea into an actual product as design planning.

• True

• False

Profits of a large corporation are taxed twice, once as corporate income and again as personal income of stockholders.

• True

• False

A syndicate is an agreement between two or more groups to form a business entity in order to achieve a specific goal or to operate for a specific period of time.

• True

• False

An informal organization can be shown on a formal organization chart.

• True

• False

The amount of products or services an organization can produce in a given time is known as its capacity.

• True

• False

Only about half of business firms survive the first five years.

• True

• False

Trade restrictions limit consumer choices but have no effect on product prices.

• True

• False

The International Monetary Fund (IMF) makes short-term loans to developing countries experiencing balance-of-payment deficits.

• True

• False

Small businesses are prone to failure.

• True

• False

Small businesses are prone to failure.

• True

• False