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Pricing Schools Business

Features Pricing Schools Business

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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?

Start with a Good Business Idea (D) Signup and view all the answers

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

Service Business (B) Signup and view all the answers

What does a Merchandising Business do?

Sell products they purchase from other businesses (D) Signup and view all the answers

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

Legal Reasons, Public Image Reasons, Pragmatic Reasons, Moral Reasons (A) Signup and view all the answers

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

The Morality of Advertising (A) Signup and view all the answers

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

Fairness (B) Signup and view all the answers

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

Conceptual Skills (C) 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?

Whistleblowing (C) 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?

Fairness (C) Signup and view all the answers