NOCTI STUDY GUIDE PRACTICE
QUESTIONS WITH 100% CORRECT
ANSWERS { GRADED A+}
If a business conducts SWOT analysis to decide whether or not to
expand, which of the following would be categorized as an ''O''?
A. money is available for the expansion
B. there is the potential for increased profits
C. new competition could enter the market
D. company expenses have increased - ✔✔B. there is the potential for
increased profits
,B is correct because a SWOT analysis is a planning tool used to
determine or evaluate an organization's strengths, weaknesses,
opportunities, and threats as related to a project or decision. An
opportunity refers to an external condition or possibility that may benefit
a company if it pursues the action or decision. A potential for increased
profits is an example of an opportunity.
The North American Free Trade Agreement (NAFTA) created a free-
trade area for:
A. Mexico, the U.S., and Canada
B. Mexico and Canada
C. Mexico and Panama
D. Mexico, Guatemala, and Belize - ✔✔A. Mexico, the U.S., and
Canada
, A is correct because the North American Free Trade Agreement
(NAFTA) created a freetrade area for Mexico, the United States, and
Canada.
Two types of business partnerships are general and:
A. contractual
B. fiduciary
C. limited
D. cooperative - ✔✔C. limited
C is correct because the two types of business partnerships are general
and limited. A general partnership is a business that is made up of two or
more individuals where each partner contributes money, property, labor,
or special skills and each partner shares in the business's profits or
losses. A limited partnership resembles a general partnership but the
limited partner is not liable for the partnership's debts other than the
QUESTIONS WITH 100% CORRECT
ANSWERS { GRADED A+}
If a business conducts SWOT analysis to decide whether or not to
expand, which of the following would be categorized as an ''O''?
A. money is available for the expansion
B. there is the potential for increased profits
C. new competition could enter the market
D. company expenses have increased - ✔✔B. there is the potential for
increased profits
,B is correct because a SWOT analysis is a planning tool used to
determine or evaluate an organization's strengths, weaknesses,
opportunities, and threats as related to a project or decision. An
opportunity refers to an external condition or possibility that may benefit
a company if it pursues the action or decision. A potential for increased
profits is an example of an opportunity.
The North American Free Trade Agreement (NAFTA) created a free-
trade area for:
A. Mexico, the U.S., and Canada
B. Mexico and Canada
C. Mexico and Panama
D. Mexico, Guatemala, and Belize - ✔✔A. Mexico, the U.S., and
Canada
, A is correct because the North American Free Trade Agreement
(NAFTA) created a freetrade area for Mexico, the United States, and
Canada.
Two types of business partnerships are general and:
A. contractual
B. fiduciary
C. limited
D. cooperative - ✔✔C. limited
C is correct because the two types of business partnerships are general
and limited. A general partnership is a business that is made up of two or
more individuals where each partner contributes money, property, labor,
or special skills and each partner shares in the business's profits or
losses. A limited partnership resembles a general partnership but the
limited partner is not liable for the partnership's debts other than the
