12 Questions
What is the primary objective of most businesses?
Earn a profit
In which type of business organization do all partners share the profits and liabilities?
Partnership
Which type of business organization changes basic inputs into products sold to customers?
Manufacturing Business
What is the first step in starting a business according to the text?
Start with a Good Business Idea
Which type of business organization provides services rather than products to customers?
Service Business
What does a Merchandising Business do?
Sell products they purchase from other businesses
What are the 4 main reasons that may persuade a business to act ethically?
Legal Reasons, Public Image Reasons, Pragmatic Reasons, Moral Reasons
What is the area in business mentioned as most in need of ethical attention?
The Morality of Advertising
Which of the following is NOT a core principle of good corporate governance according to the text?
Fairness
What is the concept that involves the mental ability to analyze and diagnose complex situations?
Conceptual Skills
What is the term used for the act of an employee disclosing unethical or illegal behavior to higher management?
Whistleblowing
What is the quality that involves making judgments free from discrimination and stems from the old English word 'faeger' meaning pleasing or attractive?
Fairness
Test your knowledge on the nature and forms of business organizations, including the steps to start a business and the types of business organizations. Learn about the entity where economic resources are put together to provide goods or services and the common objective of earning a profit.
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