AB/299 AB299 AB 299 Unit 4 Quiz

 1.

Question :

How is the number of employees reporting to a manager on the organization chart referred to?

Student Answer:

Supervisors

Front-line employees

Empowered employees

Span of control

Question 2.

Question :

Each agent for the business can legally bind the firm as well as the other agents to contracts, even without the other agents' knowledge or consent. Each agent is taxed as an individual based on distributed share of profit from the business. Which business type does this describe?

Student Answer:

LLC

501-C3 Non-Profit Corporation

Sole Proprietorship

S Corporation

Question 5.

Question :

Which business form has the greater liability?

Student Answer:

Sole proprietorship

A corporation

A 501C3

Benefit Corporations

Question 6.

Question :

Which type of business structure must comply with state and federal regulations and reporting requirements even though tax exempt?

Student Answer:

S Corporation

501-C3 Non-Profit Corporation

C Corporation

Sole Proprietorship

Question 7.

Question :

Which types of power are most effective?

Student Answer:

Coercive and Referent

Expert and Referent

Reward and Expert

Legitimate and Reward
 

Question 11.

Question :

During the product life cycle, when will profits peak?

Student Answer:

Growth stage

Introductory stage

Maturity stage

Exit stage

Question 12.

Question :

The most competent leaders use a specific leadership style.

Student Answer:

True

False

Question 14.

Question :

At which stage of Maslow’s hierarchy is the following employee? Scenario: A retail assistant is at the counter with a customer. The customer is returning a scarf because it faded out in the sun. The assistant sees by the customer receipt that she bought the scarf the say before and the scarf looks faded. The assistant says no problem and gives the customer not only a new scarf, but a coupon for an advanced store sale for loyal customers with 30% off any item.

Student Answer:

Safety

Self-actualized

Self-esteem

Physiological

Question 15.

Question :

What does the “C” in the POLC model stand for and what does it include?

Student Answer:

Control refers to the control of the production process involved in generating a product or service.

Control refers to controlling unforeseen circumstances in marketing.

Control of costs and expenses as well as policies and systems.

Control of customer service problems generated in doing business.

Question 17.

Question :

This is the least regulated form of business ownership. Control and liability lies with the proprietor.

Student Answer:

LLC

S Corporation

501-C3 Non-Profit Corporation

C Corporation

Question 18.

Question :

Before stockholders receive a penny of its net income as dividends, they must pay a graduated tax on profits. Then stockholders must pay taxes on the dividends they receive from these same profits at the individual tax rate. Which business type is it?

Student Answer:

S Corporation

Partnership

LLC

C Corporation

Question 19.

Question :

Spencer created the following goal for himself in January after consulting with a credit advisor at his bank: Pay back all of my debts by the end of the year.
What did Spencer forget to address in creating this goal according to the S.M.A.R.T. goals parameters?

Student Answer:

Being attainable and realistic

Being timely and realistic

Being timely and attainable

Being specific and timely