A written agreement between two or more people identifying how they will add capital, labor, or other assets and divide any profits or share any losses in their business is called a

An agreement among two or more businesses to work together to provide a good or service is called a

If the corporation fails, stockholders are responsible for

Ownership of a corporation is measured in

A corporation is authorized to act as if it were a single person by the

An official document giving power to run a corporation is a

In a limited partnership

In which type of partnership is the liability of a partner limited to the amount of the partner’s investment?

An advantage of partnerships when compared to proprietorships is

One of the main reasons many proprietorships fail within a short time is that

In a sole proprietorship,

If assets are valued at $500,000 and capital amounts to $350,000, the liabilities of the business are

Which one of the following statements is true about entrepreneurs?

The most common form of business organization is the

A cooperative provides members with both cost and profit advantages they would not have individually

A nonprofit corporation pays small dividends to shareholders.

The stockholders make up the ruling body of a corporation.

A stockholder has the same financial responsibility as a partner.

A corporation can make contracts, borrow money, and be sued.

To form a corporation a charter is needed.

It is difficult to withdraw from a partnership.

If a partner enters into a contract against the wishes of the other partners, the other partners are legally responsible for the contract.

A disadvantage of a partnership that fails is that a partner can lose personal assets in addition to the amount of money invested in the business.

New businesses almost always fail for purely financial reasons.

The Internet can be used to transmit data within a country but cannot be used to transmit data anywhere in the world.

The CEO is the top computer executive in most major organizations.

Servers store data and application software for the company’s workstations.

Hackers are people who break into computer systems and steal, destroy, or alter information.

It is ethical for online retailers to sell customers’ personal information without their knowledge.

Firewalls are used to screen people who enter or exit a network.

A computer system that processes data into meaningful information is called a database.

A system that provides the ability to analyze “what if” scenarios is an executive information system.

Like the dashboard in a car, a digital dashboard provides real-time information.

The terms Internet and World Wide Web are interchangeable.

The process of using data in databases to find relationships between individuals and their behavior or preferences is called social networking.

Internet addresses for businesses often use the following format: www.businessname.com.

Moore’s Law forecasts that the amount of data that could be processed by a computer chip would

Which statement is false about CIOs?

A general term that refers to the movement of information from one location to another electronically is

A computer that stores data and application software for all workstations in a single building or building complex is called a

A secured, private network that companies need in order to share selected information with selected people outside the organization is an

All of the following are types of information systems except a(n)

An information system that integrates data from various departments to make it available to help managers with day-to-day business operations is called a(n)

The ability to consider alternatives by analyzing “what if” scenarios is a key capability of a(n)

Software that provides online ordering capabilities for shoppers is known as

Carpal tunnel syndrome is a health problem related to the

A cashier at a family dining restaurant placing his finger on a fingerprint scanner before he can operate the cash register is an example of

Which statement is incorrect about firewalls?

Knowledge workers are people who

A larger number can be subtracted from a smaller number.

A meter is a measure of mass.

A correlation is the relationship between two events in which the second event is a consequence of the first.

In subtraction, the minuend minus the subtrahend equals the difference.

Inferential statistics is another name for descriptive statistics.

Only two numbers can be subtracted at a time.

The order of addends matters.

Information and raw data are the same thing.

The answer to a division problem is called the dividend.

In business, electronic database programs and spreadsheets have become the primary tools for analyzing data.

A 2-liter soda bottle contains

A business has 360 customer service professionals working in a call center and 10 of them are supervisors. The ratio of supervisors to employees is

A customer uses a $15 off coupon when paying for a purchase. The total before the discount is $73 ($73 - $15 = $58). The minuend in this situation is

A kilogram is equal to

A range is always expressed as

If the multiplicand has three decimal places and the multiplier has two, the product will have

The length of a kilometer is approximately

What is the mode for the following group of numbers: 3, 5, 4, 3, 4, 3, 5, 5, 6, 3.

If 28 employees out of a total of 140 attended a meeting about retirement planning, the percentage attending was approximately

Which of the following measurements is the smallest?

Which container will hold the most liquid?

When a series of 17 numbers is arranged from lowest to highest, the 9th number will be the

Which of the following allows easy comparison of values among several characteristics from a data set?

Which of the following provides meaningful summaries of data to help managers understand the current situation?

When you use past and current information to estimate future performance, you

By subtracting total projected costs and expenses from projected sales, a business can estimate its profit.

A company can be highly profitable yet not have enough cash on hand at the right times to pay its bills.

Businesses that use budgets for their financial operations are usually more successful than those that do not use budgets.

An examination of a company's financial records by an expert in order to verify their accuracy is called an audit.

Many companies no longer issue actual paychecks to employees.

Accounts receivable are current assets.

When a petty cash fund is used, it is NOT necessary to keep a written record of all money paid out of the fund.

An income statement is a financial report that would primarily be used for internal control of cash.

The use of budgets and a budgeting system guarantees the success of a business.

The primary reason businesses keep financial records is to

A manager is most likely to use financial reports to

Movement of cash into and out of a business is known as

Someone who gives professional advice or offers professional services is called a(n)

The general term that is applied to a computer that becomes inadequate because a more efficient model comes on the market is

The original cost of an asset less its accumulated depreciation is the

Net worth, owner's equity, and stockholders' equity are all terms meaning

Which part of an income statement shows all the costs incurred in operating the business?

An operating budget includes projected

The difference between current assets and current liabilities is

Which financial ratio shows whether a firm can meet its current debts comfortably?

A graphic designed to provide a quick view of key financial performance indicators is called a(n)

The basic accounting equation is

The amount owed to a business by its customers is considered

To determine whether or not a company is a good loan risk, lenders often review its

A partner’s personal contribution in a business is equity capital.

Retained earnings are a type of equity capital.

Common stock is a type of security, but bonds are not.

Preferred stockholders usually have voting privileges at the stockholders’ meetings.

When a corporation ceases operations, preferred and common stockholders usually get all their investment back from the sale of the assets.

The book value of a share of stock is found by dividing the corporation’s net worth by the total number of shares outstanding.

If the par value of a share of stock is $100, the market value cannot be below $100.

Even if a business is not making a profit, it should plan to replace assets that depreciate.

A supplier who allows a business 90 days to pay for merchandise is actually providing short-term capital.

If a business has a $50,000 open line of credit, it can borrow a minimum of $50,000 at a time.

The investment made in a business by its owners is called

Retained earnings refer to

Banks and other types of lending institutions usually will not loan money to a business unless

If a sole proprietorship fails, which of the owner's assets may be lost?

Which statement is true about forming a corporation?

Which statement is true of common stockholders?

Which statement is true about preferred stockholders?

Kent owns 150 shares of 7 percent preferred stock that has a face value of $100 a share. Last year he received no dividends. If profits are large enough this year, he should receive as dividends

If the ABC Corporation's net worth is $48,000,000 and there are 3,000,000 shares of stock outstanding, the book value of each share is

The dollar value printed on the stock certificate is known as the

Earnings reinvested in the business to replace equipment, add new facilities, or serve as financial protection are called

Short-term debt must be repaid to the lender with interest within

When deciding how to get the capital they need, companies consider all of the following except

An organization that assists a business to raise capital through the sale of stocks and bonds is a(n)

Which statement is true about venture capitalists?

Among the major activities in the human resources departments of most companies are improving the health and safety of employees and managing the compensation and benefits programs.

Human resources is a department that typically has little contact or interaction with the other departments in a company.

If a company has a human resources department, personnel from that department complete all performance appraisal activities rather than employees’ supervisors.

Many problems in a company, such as higher training costs and dissatisfied employees, can be reduced by an effective selection process.

Minimum qualifications for a job are determined using both the job description and job specification.

A job specification is the form used to complete a performance appraisal.

The recommendations of present employees are an excellent source of applicants for an open position in a company.

The purpose of an interview is to find out more about the applicant, not to give information to the applicant.

Employees may choose to transfer to jobs that better meet their current interests and needs.

The Family and Medical Leave Act requires an employer covered by the law to allow an eligible employee up to a total of 12 weeks of paid leave for the birth of a child.

Human resources management includes all the following employee-related activities except

A human resources manager would most likely prefer an employee turnover rate

OSHA is part of the U.S. Department of

Employee discharge is the same as

Which of the following is not a reason for transferring an employee?

Whenever there are new job openings or job vacancies, the company should first turn to

In one year, a company with 3,000 employees had 300 workers terminate employment. What was the company’s employee turnover rate?

A layoff generally occurs because of

Employee turnover is commonly calculated based either on the number of employees who leave their jobs in a company or on

A federal law that provides pensions to retired workers and disabled workers is

A fund to pay an income to workers who lose their jobs through no fault of their own is

The law that requires employers to pay covered employees overtime pay at 1-1/2 times the regular rate of pay is the

Discrimination in hiring based on race, ethnicity, religion, gender, or national origin is prohibited by the

The Equal Pay Act prohibits unequal pay for substantially the same work based on

As of 2015, the average annual social security payment to an individual retiree was approximately