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Intro to Business 1.2 Sophia Exam Questions with answers
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Intro to Business 1.2 Sophia Exam Questions with answers
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Intro to Business 1.2 SophiaExam Questions with
answers
Which of the following is a trait of small businesses?
a.)
They have more than 500 employees.
b.)
They rarely influence big business.
c.)
They are independently owned.
d.)
They dominate their markets. - -They are independently owned.
-Why are small businesses important?
a.)
Small businesses are primarily involved in expansion and innovation.
b.)
Over 50% of sales go to small businesses.
c.)
Small businesses are independently owned.
d.)
Small businesses attempt to earn a profit.
SUBMIT MY ANSWER - -Over 50% of sales go to small businesses.
-What is the main difference between a small business owner and an
entrepreneur?
a.)
Small business owners usually do not last more than two years.
b.)
Entrepreneurs take on businesses with the goal of growth and expansion.
c.)
Small business owners lack innovation and creativity.
d.)
Entrepreneurs are interested in generating profit. - -Entrepreneurs take on
businesses with the goal of growth and expansion.
-Which of the following statements best supports the decision to form a
partnership rather than a sole proprietorship?
a.)A partner could have ideas that would interrupt the business continuity.
b.)A partner would contribute specific skills to make the business successful.
c.)A partner would want a portion of the profits if the business is successful.
, d.)A partner could increase the likelihood investments could be frozen.
Correct
GO TO THE NEXT CONCEPT - -A partner would contribute specific skills to
make the business successful.
-Select the best reason below why Oliver should form a partnership with
Kyle instead of starting a business as a sole proprietor.
a.)
Kyle may have experience managing business operations.
b.)
Oliver may want to make all final decisions on how they will operate the
business.
c.)
Oliver may want to keep all of the profits the company earns.
d.)
Kyle may have personality traits that make working with him difficult. - -Kyle
may have experience managing business operations.
-Select the statement below that supports Luis starting a business as a
partnership with Derick.
a.)Luis wants to keep any profits earned and reinvest them in the business.
b.)Luis needs someone to work with him that has business skills.
c.)Luis has the technology background needed to design the app features.
d.)Luis has secured the funding needed to start the business. - -Luis needs
someone to work with him that has business skills.
-Which of the following statements confirms that Global Hotel Group (GHG)
is a corporation rather than another type of business?
a.)
GHG is indistinguishable from its owners.
b.)
GHG is taxed solely on earnings from sales.
c.)GHG can be sued by a disgruntled former employee.
d.)GHG implemented a social responsibility program. - -GHG can be sued by
a disgruntled former employee.
-Which of the following makes corporations unique from other types of
businesses?
a.)A corporation is legally considered a person.
b.)A corporation usually has over 500 employees.
c.)A corporation can only be formed in certain states.
d.)A corporation has unlimited liability. - -A corporation is legally considered
a person.
-Which of the following statements is characteristic of a corporation?
a.)It keeps company information from being publicly disposed.
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