Comprehensive FM 116 Q&A Bundle

What are entrepreneurs?people who risk their time, money, and other resources to start and manage a business What is an internal locus of control?A deep-seated sense that the individual is personally responsible for what happens to his or her life What is an external locus of control?A deep-seated...

The periodic contraction and expansion that occur over time in virtually every economy is known as the _____. Business cycle Which of the following statements best describes a budget deficit? t is the shortfall that occurs when expenses are higher than revenue over a given period of time. Which of...

People who risk their time, money, and other resources to start and manage a business are known as _____. a. employees b. executives c. regulators d. entrepreneurs d. entrepreneurs Which of the following is an appealing benefit that entrepreneurs enjoy? a. Minimal risk b. Minimal workload c. Flexib...

An individual who decides to establish a sole proprietorship must realize that he or she would be: facing unlimited personal liability for the company's debts Which of the following is a disadvantage of a sole proprietorship? The owner is personally liable for the debts of the firm One of the dra...

Which of the following statements is true of the economy? a. Its rise or downfall has no effect on the common man. b. It is inclined toward politics and rarely affects businesses. c. It solely indicates how resources are maintained in government-owned institutions. d. It is essentially a financial a...

Autocratic leaders management style that hoard decision making power for themselves and issue orders without consulting followers Democratic leaders leadership style that share power with followers, solicit and incorporate input from followers before making final decisions Laissez Faire leaders le...

Annual Report Progress report available to all investors (or potential investors); Contains all financial performance for the past fiscal year; SEC Format: 10K Fiscal Year A period used for calculating annual ("yearly") financial statements. Calendar used in business; For most companies: First da...

_____ is found by dividing the dividend per share by the previous day's price per share. Yield Which of the following statements is true of a capital gain? It is a type of return on investment for common stockholders. Passed during the early twenty-first century, the _____ increased the Securitie...

What is a sole proprietorship? A form of business ownership with a single owner who actively manages the company What is a partnership? A voluntary agreement under which two or more people act as co-owners of a business for profit What is a general partnership? A partnership which all partners can...

Management• Achieving the goals of an organization using organizational resources through: - Planning, Organizing, Leading, Controlling PlanningDetermining organizational goals and action plans for achieving those goals OrganizingDetermining a structure for individual jobs and overall organizati...

Oponium, a laptop manufacturer, offers a variety of gaming laptops at discounted prices. However, the laptops have been designed in such a way that they have performance issues after being used for six months, thereby generating revenue for the company through service charges. In this scenario, Opon...

Stockholders are ___ of a corporation. Common stockholders have the right to vote on issues affecting the operation of the business. owners In a business, ___ is equal to sales minus expenses. profit A(n) ___ occurs when one firm buys another firm. acquisition Audrey is thinking about starting sm...

Stock holder Owner of a corporation. Revenue (sales) The money coming into a company through selling the products or services. Joint ventures An agreement between two or more companies where they pool their resources for the purpose of accomplishing a specific task (a new project or any other busi...

Human resources management (HRM) all the activities involved in ACQUIRING, MAINTAINING, and DEVELOPING, an organization's human resources Human resources planning determining the firm's future human resources needs Human resources planning -the development of strategies to meet a firm's human r...