Forms of Business Organization Quiz
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Questions and Answers

What is the primary objective of most businesses?

  • Provide services to customers
  • Change basic inputs into products
  • Earn a profit (correct)
  • Sell products purchased from other businesses
  • In which type of business organization do all partners share the profits and liabilities?

  • Manufacturing Business
  • Service Business
  • Sole Proprietorship
  • Partnership (correct)
  • Which type of business organization changes basic inputs into products sold to customers?

  • Manufacturing Business (correct)
  • Service Business
  • Merchandising Business
  • Sole Proprietorship
  • What is the first step in starting a business according to the text?

    <p>Start with a Good Business Idea</p> Signup and view all the answers

    Which type of business organization provides services rather than products to customers?

    <p>Service Business</p> Signup and view all the answers

    What does a Merchandising Business do?

    <p>Sell products they purchase from other businesses</p> Signup and view all the answers

    What are the 4 main reasons that may persuade a business to act ethically?

    <p>Legal Reasons, Public Image Reasons, Pragmatic Reasons, Moral Reasons</p> Signup and view all the answers

    What is the area in business mentioned as most in need of ethical attention?

    <p>The Morality of Advertising</p> Signup and view all the answers

    Which of the following is NOT a core principle of good corporate governance according to the text?

    <p>Fairness</p> Signup and view all the answers

    What is the concept that involves the mental ability to analyze and diagnose complex situations?

    <p>Conceptual Skills</p> Signup and view all the answers

    What is the term used for the act of an employee disclosing unethical or illegal behavior to higher management?

    <p>Whistleblowing</p> Signup and view all the answers

    What is the quality that involves making judgments free from discrimination and stems from the old English word 'faeger' meaning pleasing or attractive?

    <p>Fairness</p> Signup and view all the answers

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