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LLCs do have to submit articles of organization and an operating agreement, but do NOT have to: form of business ownership that provides limited liability, as in a corporation, but is taxed like a partnership is a(n) limited liability company, LLCs can be taxed as ___ or ___ corporations, which allows the business owners to choose their method of taxation, Through flexible distribution of profits and losses, LLC members agree on the ___ of profits/losses to be distributed to each member. Business - Introduction To Business / Quizlet 4. 1) Identify Personnel needs of the company. What is the expected forward exchange rate 1 year from now? two or more people legally agree to become co-owners of a business, a chartered legal entity with authority to act and have liability apart from its owners, - unlimited liability / risk of personal losses, a partnership in which all owners share in operating the business and in assuming liability for the business's debts, a partnership with one or more general partners and one or more limited partners, an owner (partner) who has unlimited liability and is active in managing the firm, an owner who invests money in the business but does not have any management responsibility or liability for losses beyond the investment, the responsibility of a business's owners for losses only up to the amount they invest; limited partners and shareholders (stockholders) have limited liability, a partnership that looks much like a corporation (in that it acts like a corporation and is traded on a stock exchange) but is taxed like a partnership and thus avoids the corporate income tax, a partnership that limits partners' risk of losing their personal assets to only their own acts and omissions and to the acts and omissions of people under their supervision, a state-chartered legal entity with authority to act and have liability separate from its owners--its stockholders, - individuals who incorporate do not issue stock to outsiders; do not share all the adv and disadv of large corporations, a unique government creation that looks like a corporation but is taxed like sole proprietorships and partnerships, similar to S corp, but without the special eligibility requirements, the result of two firms forming one company, one company's purchase of the property and obligations of another company, the joining of two companies involved in different stages of related businesses, the joining of two firms in the same industry, the joining of firms in completely unrelated industries, an attempt by employees, management, or a group of investors to purchase an organization primarily through borrowing against its assets, an agreement whereby someone with a good idea for a business sells the rights to use the business name and sell a product or service to others in a given territory, a company that develops a product concept and sells others the rights to make and sell the products, the right to use a specific business's name and sell its products or services in a given territory, a business owned and controlled by the people who use it--producers, consumers, or workers with similar needs who pool their resources for mutual gain, the legal documents that the creators of a corporation must file with the appropriate state office. 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Its balance sheet shows$1.7 billion in current liabilities, $10.2 billion in long-term debt, and$5.1 billion in common equity. The process that a company uses to integrate new employees into an organization. During the . What are the advantages for a franchisee? Quiz. The process of preparing managers to assume increased responsibility in both present and future positions. The ability to produce something more efficiently than any other nation. A business that is owned by many investors. 10%? Temporary association to perform a specific task requiring a large amount of capital. the economic model of social responsibility places emphasis not only on profits but also on the impact of business decisions on society, A company's processes, cultural, staff, product line, production process, ability to innovate, image, financial strength, service level, or number of patents would generally be analyzed by management to uncover. course books material can be pulled from different sources to create textbooks and ebooks tailored, this introduction to business textbook replacement course covers all of the topics in a standard business textbook the lessons offer a convenient way for students to study interactive materials, bus 101 introduction to business the quiz is . The upper limit to the amount that can be charged for a specific good or service is a: The ____ is a name given to a product or service to distinguish it from other similar and competitive items. Studying jobs to determine their various elements and requirements. - Government regulation and increased paperwork, Taxed like partnership. To operate successfully, capitalist countries must grant four basic rights. lgrossnicklaus_37382. What are the disadvantages for a franchisor? The organized effort of individuals to produce and sell, for a profit, the goods and services that satisfy society's needs. The amount of products that can be produced in a given amount of time. Human resources are the people who work for a business. What are the disadvantages of a corporation? The business quizlet is designed to get you to talk about your business in a way that makes sense to you. 24. What are the four resources a business needs in order to be successful? In production, a system in which each worker performs a single part of an entire process. Force larger firms to become more efficient and responsive. What % of corporation businesses are there in the U.S.? It has 300 million shares of common stock outstanding, and its stock price is $20 per share. 3 Free Which of the following companies is undercapitalized? An organization structure that creates dual lines of authority (vertical and horizontal; the employees of the organization have more than one boss). The United Nations is an international organization that promotes the idea of using diplomacy as a means of preventing war. Our online introduction to business trivia quizzes can be adapted to suit your requirements for taking some of the top introduction to business quizzes. The chance an entrepreneur takes of losing time and money on a business that may not. Consumers have the right to complain about a product and to be listened to. What are the four resources a business needs in order to be successful? A system where factors of production are owned and directed by the state. Large number of small that businesses that sell the same type of products with the same characteristics. By how much does Beales required return exceed Foleys required return? Helps international business conduct their business and ensure that trade flows smoothly. 22 items by lorna. When General Mills and a few other firms dominate the American cereal market, . Which Career Cluster prepares individuals for careers related to families and human needs? Emergency Medicals stock trades at $145 a share. Business - Intro To Business - Chapters Chapter 1. Distributions include the Linux kernel and supporting system software and libraries, many of which are provided . low customer awareness and acceptance; sales rise gradually; high marketing costs, low profits. Process of attracting qualified job applicants. Payments or special favors intended to influence decisions, Principles and standards that determine acceptable conduct in business. 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An employee's feelings about their job and about the firm itself. 3 Free Short-term financing is used to finance a merger or expansion. View full document Course Intro to Business Test Quiz 4 (30 pts) This quiz consists of 10 multiple choice questions and covers the material in Chapter 4. b. answer choices Customs Traditions Cultures Ethics Question 3 30 seconds Q. Reduce price; broaden distribution (placement). Choosing an alternative that is not the best, but it solves the problem. (A)Retention of all profits for the sole proprietor (D)Lack of money (A)Flexibility (D)Limited management . Contract between the company and the state; state recognizes the artificial person. 8 pages. Are you looking for a one-stop location to brush up your basics of business concepts and principles? ignored the concept of scarcity. A nontariff barrier that limits the amount of a good that can be imported. It was established as an extension of the Rome Statute, The United States hesitated supporting the _____ revolutions because it feared they would fall under extremist influences, Socialism has evolved over the centuries from Karl Marx's original purposed theories. What is the benefit of having a totally owned facility? Can a board of directors be on the inside or outside of the company? How do small businesses provide competition? Sharp decrease in volume, profits continue to fall. the act of an employee exposing an employer's wrongdoing to outsiders, such as the media or government regulatory agencies, Fundamentals of Financial Management, Concise Edition. The business philosophy that a firm should provide goods and services that satisfy customers' needs through a coordinated set of activities that allow the firm to achieve its objectives is commonly known as: Marketing concept The firm has to first determine what customers need and then develop goods and services to fill those particular needs. Linux (/ l i n k s / LEE-nuuks or / l n k s / LIN-uuks) is an open-source Unix-like operating system based on the Linux kernel, an operating system kernel first released on September 17, 1991, by Linus Torvalds. Customers understand the time value of money, so they would all wait and pay on the 90th day. All employees are expected to be at work. The dividing of a organization into separate units. Every business performs all of the following activities EXCEPT: Intro to Business - Chapter 5 DRAFT. The company is contemplating a 3-for-2 stock split. Tax on a foreign product entering the country. This quiz will test your knowledge about the content of Chapter 15. c. If the WACC was 5% and A and B were mutually exclusive, which project would you. Process of making large quantities of a product quickly and cheaply. Employee relations, compensation, and benefits. Use the same brand for all or most of the products. A special skill to accomplish a specialized activity. 25 Questions Show answers Question 1 30 seconds Q. Assets = liabilities + owner's equity. Of all new businesses, answer choices. The first step in the marketing research process is to answer define the problem and determine the present situation Unlock the answer question Secondary data answer consists of information that has already been researched by others and is published in journals or books, or has been made available online Unlock the answer question Now suppose you decided to sell one of the stocks in your portfolio with a beta of 1.0 for$7,500 and use the proceeds to buy another stock with a beta of 0.80. Make potential customers aware of product. A leadership style when workers told what to do and how to do it. If this project was instead undertaken by a similar U.S.-based company with the same risk-adjusted cost of capital, what would be the net present value and rate of return generated by this project? Here we have A Fundamental Quiz on Business Essentials. What would your portfolios new beta be? Free. Temporary reduction on a systematic basis. The chairman of the board, president, executive vice presidents, corporate secretary, treasurer, and any other top executive appointed by the board of directors. Create your own Quiz Here, we bring you the Introduction To Business Law Test Quiz Part- I. Free. 1. purchased a service. Working under the supervision of an experienced employee. The combination of two or more firms competing in the same market with the same good or service. When a firm makes the decision to borrow money, it is a clear sign that the firm is. An problem or situation that requires a person to chose between multiple "right" or "wrong" choices. Describe the attributes of a Custom-based Economy. At what constant rate is the stock expected to grow after Year 3? An economic system in which the government controls a country's economy. Quiz: Questions On The Foundations Of Business, Business 100: Introduction To Business Chapter 4 Quiz, A Trivia Quiz On The Fundamentals Of Business, Quiz: Introduction To Business 101 Part #2, Quiz: Test Your Knowledge About Business Accounts, Introduction To Business: The Ultimate Practice Exam #2, Introduction To Business: The Ultimate Practice Exam. answer choices. The modern period is represented by the economic era, which we are living in now. What are the disadvantages of a joint venture? 22 items by lorna . Used by entrepreneurs to convey goals to potential investors. Consumers have access to complete information about a product before they buy it. Marketing a CD requires the same strategy as marketing diamond earrings. All of the following are non-renewable resources EXCEPT: answer choices Oil Gas Lumber Coal Question 2 30 seconds Q. The evaluation of employees' job performance. Currently, Sandrines financial planners are considering undertaking a 1-year project in the United States. 5) Plans to compensate personnel for their work. A group of people with physical or cultural traits different from those of the dominant group in the society. What are the disadvantages for licensing? Suppose the population of Area Y is relatively young, and the population of Area O is relatively old, but everything else about the two areas is the same. Avoids restrictions on converting domestic currency to foreign currency. Rules and standards that describe what is expected of a company's employees. 4 Free Dilbert's, a large department store chain, has store managers, district m. 5 Free false. The control function involves the following three steps: 1) Set standards or specific goals to which performance can be compared. Taking in materials into one's own country. Avoids double taxation, offers limited liability. To share the responsibilities and duties of a single full time job with one or more other employees. Questions and Answers 1. The overwhelming amount of government rules, regulations, and paperwork. in the initial stage of investigating, jane must consider all of the following, - how much capital is needed to purchase the franchise, the __ cost of incorporating can be expensive because of the need for accountants and lawyers to get started, a franchise operation is still your business, but you must follow the rules of, ___ liability means partners can lose everything they own if the business loses a lawsuit, partners can bring different __ and ___ into the business that can increase the chances for success of a partnership, reasons why management difficulties are considered a disadvantage of sole proprietorships, - it is hard to attract employees to help run the business due to competition with larger companies offering better benefits, franchisors would like their franchisees to "mirror" their customer bases. Free. How might these problems be alleviated? Two franchisors offer their products together. A type of organizational structure viewed as less hierarchical , more decentralized, and more flexible than other structures. Practice 23 Questions Show answers Question 1 30 seconds Q. A comprehensive database of more than 26 introduction to business quizzes online, test your knowledge with introduction to business quiz questions. Training that replicates the work environment. introduction-to-business; Recent Packs. Established a minimum wage and an overtime pay rate. View Test Prep - Test_ Intro to Business _ Quizlet.pdf from BUSINESS 001 at Pennsylvania State University. A company that does business in many countries and has facilities and offices in many countries is considered a: 2. Gathering information and choosing the most appropriate applicant (most appropriate vs. most qualified). Quizlet 3. Quantity of a product producers are willing to sell. Profit The difference between what it costs to make and sell a product and what a customer pays for it. What are the advantages of a joint venture? Men and women who do equal jobs must be paid the same wage. Working at home all or part of the work week. In business terms, what is a profit? Consumers are entitled to convenience, courtesy, and responsiveness from manufacturers and sellers. What are the five P's of entrepreneurship? about 3/4 are profitable and 1/4 lose money. in Business. Allowing consumers to take legal ownership of a product (this adds value). d. ability to create strong incentives to work hard. home-based franchises have many advantages, such as: since there is no stock, LLC ownership is ___, which means LLC members need the approval of the other members in order to sell their interests in the company, ___ owned businesses are growing more than the national rate, ___ protects investors' personal assets which makes them more likely to take a risk on investing in a corporation, franchises are important to the ___ because of the number of new businesses started and jobs created, no stock, limited life span, and fewer incentives are disadvantages of an. 4 Free Selling and shipping raw materials or products to other nations is called 5 Free How many types of partnerships are there? A business that buys, sells, and trades across national boundaries. Combining old and new research and putting the knowledge to use. Advantages pg 138 Disadvantages pg 139. Management is the practice of manipulating all the resources available to a company to ensure that you meet the business goals and objectives. A. always been to provide better customer service. made an economic trade-off. -. These rights must be supported by laws, institutions, infrastructure, and . General Agreements on Tariffs and Trade (GATT). Edelman Engines has $17 billion in total assets. Being that you just started covering the subject, it is important to ensure that you are in touch with the topics as you cover them. Question 13. 30 seconds. The questions are all about what you do and why you do it. A nontariff barrier that lowers the value of a nation's currency relative to the currencies of other nations. What are the disadvantages for a franchisee? Suppose you held a diversified portfolio consisting of a $7,500 investment in each of 20 different common stocks. in Business. Cover costs, maintain market share, reduce inventory. The study of the decisions made by individuals and businesses. How do you develop a program for social responsibility? A manager who manages systems that convert resources into goods and services. When a new company goes public and sells stock for the first time, it is called. A type of plan designed to implement tactical plans. Quantity of a product buyers are willing to purchase. \text{Project B} & \text{-\$ 20} & \text{\$ 10} & \text{\$ 9} & \text{\$ 6}\\ You get a vote in how to run the corporation. Ability to deal effectively with other people. Sales still increasing at slower rate, will decline in later stage. A short few sentences that describes the position and duties a person has. A firm that operates on a worldwide scale without ties to any specific nation or region. A nontariff barrier that restricts foreign currency. A large number of small businesses that sell similar products. cjs238 Criminal Law. Executive Summary 2. Business Description 3. 14. Can You Answer These Business 101 Questions? Taxes placed on foreign goods, making them less attractive to consumers and thus protecting domestic industries from foreign competition. Low price for a new product; quickly build market share. - Image impacted if standards not upheld. 3. Maladaptive Daydreaming Test: Am I A Maladaptive Daydreamer? A stock is expected to pay a dividend of $2.75 at the end of the year (i.e.,$\left.D_{1}=2.75\right)$, and it should continue to grow at a constant rate of 5% a year. Anywhere a business exchange takes place. 30 seconds. 8 months ago. Then look no further as we have the perfect online introduction to business quizzes having well-researched questions that will satisfy your hunger for knowledge. Edit. The amount of money a business earns above and beyond what it spends for salaries and other expenses is called: Quiz: Questions About The General Business Elements, Quiz: Introduction To Business 101 Part #5. Why do businesses exist in the first place? neither a favorable nor an unfavorable balance of trade with jamaica. Here we present you A Business Education Baseline Test Quiz! Do small businesses produce more innovations that large firms? Expected result over a one-to-ten year period. Large groups needing the same information. about 1/3 are profitable, 1/3 do not make a profit but continue to operate, and 1/3 lose money. answer choices. Intro to Business BUSN 101 - Fall 2018 Register Now M09-Ch10 Mini Sim-Human Resource Management.docx. Selling or shipping materials to other nations. E) as prices decrease, quantity supplied remains the same. Test Your Knowledege Of Business Concepts With This Quiz! A diagram that shows the relationships between personnel in an organization. this is called: a comprehensive benefit plan may add up to 30 percent or more to a worker's salary, responsibility for a loss only up to the amount invested, ending a partnership can be difficult because of problems deciding, - the worth of a retiring partner's share, in addition to the articles of incorporation, a corporation has _____, which describe how the firm is to be operated from both legal and managerial points of view. Intro to Business - Chapter 5 DRAFT. Pg 202 Figure 7.3. 8 months ago. What is Edelmans market/book ratio? From the 1970s to the present time, the primary role of business technology has. What are some examples of external influence that encourage ethical behavior? A limit on the quantity of a product that may be imported and exported within a given period. What do businesses purchase after they sell their goods and services? 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