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Domestic & Global Business Environments

Total questions: 14

Worksheet time: 8mins

Name
Class
Date
1.

A business that has been granted tax-exempt status by the IRS because it furthers a social cause and benefits the public. Donations made to a non-profit organization are received donations or fundraising activities with the public.

a)

incorporation

b)

Limited Liability

c)

non-profit

d)

for-profit

2.

_________ is the legal process used to form a corporate entity or company. A ________ is the resulting legal entity that separates the firm's assets and income from its owners and investors.

a)

limited liability/ corporation

b)

incorporation/ corporation

c)

incorporation/ limited liability

d)

corporation/

incorporation

3.

A type of legal structure for an organization where a corporate loss will not exceed the amount invested in a partnership or ______ company. In other words, investors and owners private assets are not at risk if the company fails.

a)

Limited Liability

b)

Incorporation

c)

Non-Profit

d)

Corporation

4.

An entity whose primary goal is to earn a profit.

a)

Incorporation

b)

Non-Profit

c)

Corporation

d)

For-Profit

5.

Transportation systems are designed to withstand (a)   .

6.

Education continues to grow each year which will benefit the economy and business environments.

a)

True

b)

False

7.

When ______ grows it puts more pressure on domestic and international business transportation due to public needs and forces businesses and transportation to expand and grow therefore benefiting the economy.

a)

taxes

b)

education

c)

population size

8.

Companies would be less efficient by using native languages in their internal communication, and avoid unexpected or unwanted reactions from their employees and associates, since these reactions could be bad for your business.

a)

False

b)

True

9.

(a)   are at the core of every business. They're what the business stands for, the principles or philosophy.

10.

Increase or decrease on tax will affect businesses because it will increase for some and decrease for others due to government policies.

a)

True

b)

False

11.

A trade restriction adopted by a government, a group of countries, or an international organization as an economic sanction/ban.

a)

quota

b)

tax

c)

tarrif

d)

embargo

12.

A tax or duty to be paid on a particular class of imports or exports.

a)

tarrif

b)

embargo

c)

quota

d)

tax

13.

A limited quantity of a particular product which under official controls can be produced, exported, or imported.

a)

embargo

b)

tarrif

c)

quota

14.

(a)   are guidelines that people live by to make sure they are doing the right thing.