Deca Entrepreneurship Exam Questions
& Answers 2024/2025
Sovereign Community - ANSWERSA legal concept stating that the courts in a country represent the
country's laws, and their decisions cannot be reversed by the decision of courts in other countries.
Legal concept that affects foreign countries
Eminent Domain - ANSWERSthe right of a government or its agent to take away private property for
public use, with payment of compensation.
Absolute privilege - ANSWERSAn absolute defense to an otherwise defamatory statement because of the
venue or context in which the statement was made.
Social Responsibility - ANSWERSAn organization or individual has an obligation to act for the benefit of
society at large.
Infringement - ANSWERSThe action of breaking the terms of a law, agreement, etc.
Defamation - ANSWERSA statement that injures a third party's reputation.
National Labor Relations Act - ANSWERSto protect the rights of employees and employers, to encourage
collective bargaining, and to lessen certain private sector labor and management practices
Vocational Rehabilitation Act - ANSWERSWas put in place to correct the problem of discrimination
against people with disabilities in the United States.
Fair Labour Standards Act - ANSWERSA law that creates the right to a minimum wage, and "time-and-a-
half" overtime pay when people work over forty hours a week.
, Americans with Disabilities Act - ANSWERSA civil rights law that prohibits discrimination based on
disability.
Does not allow employers to ask employees about potential medical history.
Consolidation - ANSWERSjoining of two or more companies to form a new company
General Partnership - ANSWERSdesigned to combine capital, experience,
and the abilities of two or more people
Limited Partnership - ANSWERSpermits a partner to invest in a business but have limited
liability and responsibility
Open Corporation - ANSWERSsells millions of shares of stock to many
stockholders
Intermediaries - ANSWERSPut buyers and sellers together without taking ownership of the product,
service or property. They act as go-betweens.
Wholesalers - ANSWERSan intermediary who helps to move goods between producers and retailers by
buying goods from producers and selling them to retailers
Industrial user - ANSWERSA business that buys materials, services, or goods which it will use to make
other goods
indirect agent - ANSWERSintermediaries who assist in the sale and/or promotion of goods and services
but do not take title to them
acquisition - ANSWERSTaking ownership of another business. Frequently used in conjunction with the
word merger, as in mergers and acquisitions or M&As.
& Answers 2024/2025
Sovereign Community - ANSWERSA legal concept stating that the courts in a country represent the
country's laws, and their decisions cannot be reversed by the decision of courts in other countries.
Legal concept that affects foreign countries
Eminent Domain - ANSWERSthe right of a government or its agent to take away private property for
public use, with payment of compensation.
Absolute privilege - ANSWERSAn absolute defense to an otherwise defamatory statement because of the
venue or context in which the statement was made.
Social Responsibility - ANSWERSAn organization or individual has an obligation to act for the benefit of
society at large.
Infringement - ANSWERSThe action of breaking the terms of a law, agreement, etc.
Defamation - ANSWERSA statement that injures a third party's reputation.
National Labor Relations Act - ANSWERSto protect the rights of employees and employers, to encourage
collective bargaining, and to lessen certain private sector labor and management practices
Vocational Rehabilitation Act - ANSWERSWas put in place to correct the problem of discrimination
against people with disabilities in the United States.
Fair Labour Standards Act - ANSWERSA law that creates the right to a minimum wage, and "time-and-a-
half" overtime pay when people work over forty hours a week.
, Americans with Disabilities Act - ANSWERSA civil rights law that prohibits discrimination based on
disability.
Does not allow employers to ask employees about potential medical history.
Consolidation - ANSWERSjoining of two or more companies to form a new company
General Partnership - ANSWERSdesigned to combine capital, experience,
and the abilities of two or more people
Limited Partnership - ANSWERSpermits a partner to invest in a business but have limited
liability and responsibility
Open Corporation - ANSWERSsells millions of shares of stock to many
stockholders
Intermediaries - ANSWERSPut buyers and sellers together without taking ownership of the product,
service or property. They act as go-betweens.
Wholesalers - ANSWERSan intermediary who helps to move goods between producers and retailers by
buying goods from producers and selling them to retailers
Industrial user - ANSWERSA business that buys materials, services, or goods which it will use to make
other goods
indirect agent - ANSWERSintermediaries who assist in the sale and/or promotion of goods and services
but do not take title to them
acquisition - ANSWERSTaking ownership of another business. Frequently used in conjunction with the
word merger, as in mergers and acquisitions or M&As.
