Ravi wants to use his fitness expertise to help people reach their fitness goals. Which type of business would Ravi need to establish?

Which type of business changes raw goods into a more finished form for product development?

Goods and services are tangible items and are required for survival.

A retailer buys finished goods from a _______ or manufacturer to sell to consumers.

Which of the following is NOT a type of business ownership?

Giselle wants to own a business which already has name recognition. Which type of business ownership would Giselle need to estable?

Which of the following is defined as a business which is owned and operated by one individual?

High purchase fees are a disadvantage of a franchise.

A _____ operates as a separate legal entity.

_______ structures are laid-back and undefined.

Which of the following is an example of an operative employee?

Which of the following occurs when decisions are made by the individuals who are closest to the problem?

The organization structure of a business creates rules and identifies authority.

Which of the following is the principle in which an employee should have only one supervisor to whom they are responsible?

Fatima wants her new business to be very group oriented and able to make their own decisions with no chain of command. Which of the following business design structure should she implement?

Business structural design should be defined before the organizational structure is determined.

Which of the following business design structures is divided by products or services produced and then subdivided by functions?

The ___________ business structure continuously adapts and changes.

Which of the following is NOT a detail to consider when selecting a design structure for a business?

Which of the following carries out the employment process?

Accounting and ________ may be combined n small businesses to carry out the recording and reporting of financial transactions, obtaining funds, and creating a financial plan.

Which of the following utilizes all resources to make sure the business runs smoothly to meet goals?

Distribution is delivering produced goods and services in the most efficient and cost-effective way.

The ________ of business are the processes executed within each level of the business to achieve the overall goals.

Which of the following lists each part of the business cycle?

Kason's business cannot keep the latest version of a smart phone in stock due to consumers' desire to have this product. Which phase in the business cycle is Kason's business in?

Which of the following is NOT an indicator of the business cycle?

Recession is commonly described as three consecutive quarterly declines in gross domestic product.

Which of the following describes the growth part of the business cycle?

Which of the following is NOT an advantage of a corporation?

A system used to record and report financial transactions of a business is known as which of the following?

All consumer goods are required for survival.

A ______ business structure is divided by products or services produced and then subdivided by functions.

Andres is a supervisor and has direct authority over ten employees. Which type of authority is implemented?

Which of the following is NOT one of the four basic organizational levels?

Which of the following is defined as a business in which partners have an unequal share and liability in the business?

Change raw or processed goods into finished goods

Develop products from raw goods for distribution

Move finished goods from one business to another

Change raw goods into a more finished form for product development

Which of the following is a cause of growth in the business cycle?

Which of the following types of business structures include two supervisors sharing authority?

Services are activities which are tangible.

_{Which of the following is an example of a middle manager?}

Centralized decision-making occurs when decisions are made by a select few people at the top of an organization.

Which department of a business carries out the promotion of goods and services?

Devon's video rental store is no longer making a profit due to consumers using streaming services. Which phase in the business cycle is Devon's business in?

Which of the following is the most complicated form of business?

Which of the following is an example of a service firm?

Place the following steps to the supply chain in the correct order.

Which of the following is the main focus of management?

The arrangement of a business to establish a chain of command and define roles and responsibilities is the organizational structure of a business.