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FBLA Introduction to Business Exam
with complete solutions latest version
One of the disadvantages of having a partnership is - CORRECT ANSWER-unlimited
liability
An organization that is owned and operated by its members is a ______ - CORRECT
ANSWER-cooperative
A contractual agreement to use the name and sell the products or services of a
company in a designated geographic area is called a ______ . - CORRECT ANSWER-
franchise
If one of your goals is to limit your personal liability, it would be best to organize your
business as a ______ . - CORRECT ANSWER-cooperation
A business owned by ten people who share the risks and rewards of the business is a
____ - CORRECT ANSWER-partnerships
3 c's - CORRECT ANSWER-Capital, Capacity, Character,
makes a completely finished product out of raw or processed parts. - CORRECT
ANSWER-manufacturer
packagers - CORRECT ANSWER-processor
producer - CORRECT ANSWER-make the before final product
moves finished goods, stores them, and resells them to a wholesaler - CORRECT
ANSWER-intermediary
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Which department in a company sets the price of a product? - CORRECT ANSWER-
marketing
The highest level of management in the organization; responsible for direction and
control of the organization as a whole (such as director; general manager; partner; chief
officer and executive manager). - CORRECT ANSWER-top level management
Responsible for meeting the goals that senior management sets - CORRECT
ANSWER-middle management
Responsible for monitoring the daily activities of the business - CORRECT ANSWER-
operational management
Which managerial function comes first when executing business goals? - CORRECT
ANSWER-planning
Which is NOT an aspect of the organizing function? - CORRECT ANSWER-creating
strategies
Which is NOT part of the leadership function for a manager in charge of a project? -
CORRECT ANSWER-hiring employees
In a large company, to whom would an operational manager generally report? -
CORRECT ANSWER-a middle manager
the ability to make decisions on your own - CORRECT ANSWER-initiative
integrity - CORRECT ANSWER-honesty
Who makes the final decision in a democratic leadership situation? - CORRECT
ANSWER-the democratic leader
Which kind of leader does the most delegating? - CORRECT ANSWER-free-rein
leaders set goals for managers and employees, then allow them to make the decisions
to achieve those goals. - CORRECT ANSWER-free rein
leader gets input from the group, then makes the final decision about a situation. -
CORRECT ANSWER-democratic leader
do not ask for input from their workers; they expect their orders to be obeyed without
question. - CORRECT ANSWER-autocratic
Which is NOT considered an aspect of technology? - CORRECT ANSWER-inventors
Which was inspired by the invention of the telephone? - CORRECT ANSWER-fax
BRAINSCAPE1
FBLA Introduction to Business Exam
with complete solutions latest version
One of the disadvantages of having a partnership is - CORRECT ANSWER-unlimited
liability
An organization that is owned and operated by its members is a ______ - CORRECT
ANSWER-cooperative
A contractual agreement to use the name and sell the products or services of a
company in a designated geographic area is called a ______ . - CORRECT ANSWER-
franchise
If one of your goals is to limit your personal liability, it would be best to organize your
business as a ______ . - CORRECT ANSWER-cooperation
A business owned by ten people who share the risks and rewards of the business is a
____ - CORRECT ANSWER-partnerships
3 c's - CORRECT ANSWER-Capital, Capacity, Character,
makes a completely finished product out of raw or processed parts. - CORRECT
ANSWER-manufacturer
packagers - CORRECT ANSWER-processor
producer - CORRECT ANSWER-make the before final product
moves finished goods, stores them, and resells them to a wholesaler - CORRECT
ANSWER-intermediary
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, BRAINSCAPE1
Which department in a company sets the price of a product? - CORRECT ANSWER-
marketing
The highest level of management in the organization; responsible for direction and
control of the organization as a whole (such as director; general manager; partner; chief
officer and executive manager). - CORRECT ANSWER-top level management
Responsible for meeting the goals that senior management sets - CORRECT
ANSWER-middle management
Responsible for monitoring the daily activities of the business - CORRECT ANSWER-
operational management
Which managerial function comes first when executing business goals? - CORRECT
ANSWER-planning
Which is NOT an aspect of the organizing function? - CORRECT ANSWER-creating
strategies
Which is NOT part of the leadership function for a manager in charge of a project? -
CORRECT ANSWER-hiring employees
In a large company, to whom would an operational manager generally report? -
CORRECT ANSWER-a middle manager
the ability to make decisions on your own - CORRECT ANSWER-initiative
integrity - CORRECT ANSWER-honesty
Who makes the final decision in a democratic leadership situation? - CORRECT
ANSWER-the democratic leader
Which kind of leader does the most delegating? - CORRECT ANSWER-free-rein
leaders set goals for managers and employees, then allow them to make the decisions
to achieve those goals. - CORRECT ANSWER-free rein
leader gets input from the group, then makes the final decision about a situation. -
CORRECT ANSWER-democratic leader
do not ask for input from their workers; they expect their orders to be obeyed without
question. - CORRECT ANSWER-autocratic
Which is NOT considered an aspect of technology? - CORRECT ANSWER-inventors
Which was inspired by the invention of the telephone? - CORRECT ANSWER-fax
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