2022/2023 Sophia Intro to business Milestones 1, 2, 3, 4 and Final, 5 Combined Revision Study Guides, Correctly Answered Questions, Test bank Questions and Answers with Explanations.

2022/2023 Sophia Intro to business Milestones 1, 2, 3, 4 and Final, 5 Combined Revision Study Guides, Correctly Answered Questions, Test bank Questions and Answers with Explanations. You passed this Milestone. 1UNIT 1 — MILESTONE 1question was answered incorrectly. 1 Which of the following should guide ethical behavior in a business? Moral judgments Personal goals Scientific theories Cultural standards CONCEPT Ethics as a Lifestyle 2 Kyle owned a small business that sold and repaired several styles of bicycles. Last month, Kyle had sales of $15,000 and the costs of operating his business were $12,300. Which of the following is true about Kyle's business? The business experienced a loss. The business should focus on expansion. Downloaded by: strayeruniversitystudent | Distribution of this document is illegal You passed this Milestone S - The Marketplace to Buy and Sell your Study Material The business earned a profit. The business is not capitalizing on a need. CONCEPT What Is Business? 3 A business owner decides to give all her employees a living wage and benefits, including any new employees. Which social responsibility stance did the business owner demonstrate? Proactive Defensive Obstructionist Accommodating CONCEPT Stances to Social Responsibility Issues 4 In modern times, companies need to be socially responsible toward various stakeholders. When a company ensures that its products will not cause personal injury when used, the company is demonstrating particular consideration to which stakeholder? Employees Customers Downloaded by: strayeruniversitystudent | Distribution of this document is illegal S - The Marketplace to Buy and Sell your Study Material Investors Environment CONCEPT Models of Social Responsibility and Considering the Stakeholder 5 Which of the following is a disadvantage of a sole proprietorship? May have difficulty raising money for business operations May have problems resulting from frozen investments May have issues with government regulations May have a more complicated tax structure CONCEPT Non-Corporate Business 6 Anita borrowed money from a bank to help her start her small business. Which factor of production below does the loan represent? Capital Information resource Physical resource Human resource.