FSE2202 FUNERAL HOME MANAGEMENT EXAM QUESTIONS
AND ANSWERS WITH COMPLETE SOLUTIONS VERIFIED
Business Plan (New Venture Plan)
A written description of a new idea that projects marketing, operational, and financial
aspects of a proposed business.
Consumerism
The emphasis placed on providing to customers products and services that are safe,
reliable, and honestly advertised; also, a social movement that seeks to strengthen the
rights of consumers relative to sellers.
Copyright
The registered right of a creator to reproduce, publish, and sell the work which is the
product of the intelligence and skill of that person.
Advisory Board
The business governance board which helps make major decisions for the funeral
home, but does not deal with the daily operations.
Angels AKA Business Angels
Private investors who are willing to supply financing for new and/or risky small venture
start-ups.
Articles of Partnership
A written document that states explicitly the rights and duties of partners in a
partnership.
,Artisan Entrepreneur
A person who starts a business with primarily technical skills and little business
knowledge.
Board Of Directors
The governing body that is elected by the stockholders of a corporation.
Book Value
The cost of a fixed asset less accumulated depreciation.
Limited Partner
Can only lose the amount of money they invested in a partnership.
Business
An organization that combines inputs of raw materials, capital, labor, and management
skills to produce useful outputs of goods and services so as to earn a profit.
Capital
The amount by which the total assets exceed the total liabilities of a business; an
owner's financial interest in a business.
Conflicted familial pattern
The family pattern in which the family members work against one another instead of
together.
Corporate Refugees
Those individuals who flee the bureaucratic environment of big business by going into
business for themselves.
Corporation
, An artificial being, invisible, intangible, and existing only in contemplation of law; an
entity that is something that has a distinct existence separate and apart from the
existence of its individual members.
Corporation Charter
The written application for permission to incorporate that is approved by a state official.
Debt Equity (Debt Capital, Borrowed Capital)
Any borrowed or loaned capital invested in the business that must be repaid to
creditors.
Entrepreneur
One who organizes, manages, and assumes the risk of a business firm or venture.
Equity capital (Personal capital)
Capital that is invested in the business by the owner(s).
Founder
An entrepreneur who brings a new firm into existence.
Franchisee
An entrepreneur whose power is limited by a contractual relationship with a franchising
organization.
General Manager
An entrepreneur who functions as an administrator of a business.
General Partner
A partner in a limited partnership who has unlimited personal liability. A partner of a
partnership who is personally liable for the debts of the business
Goodwill
AND ANSWERS WITH COMPLETE SOLUTIONS VERIFIED
Business Plan (New Venture Plan)
A written description of a new idea that projects marketing, operational, and financial
aspects of a proposed business.
Consumerism
The emphasis placed on providing to customers products and services that are safe,
reliable, and honestly advertised; also, a social movement that seeks to strengthen the
rights of consumers relative to sellers.
Copyright
The registered right of a creator to reproduce, publish, and sell the work which is the
product of the intelligence and skill of that person.
Advisory Board
The business governance board which helps make major decisions for the funeral
home, but does not deal with the daily operations.
Angels AKA Business Angels
Private investors who are willing to supply financing for new and/or risky small venture
start-ups.
Articles of Partnership
A written document that states explicitly the rights and duties of partners in a
partnership.
,Artisan Entrepreneur
A person who starts a business with primarily technical skills and little business
knowledge.
Board Of Directors
The governing body that is elected by the stockholders of a corporation.
Book Value
The cost of a fixed asset less accumulated depreciation.
Limited Partner
Can only lose the amount of money they invested in a partnership.
Business
An organization that combines inputs of raw materials, capital, labor, and management
skills to produce useful outputs of goods and services so as to earn a profit.
Capital
The amount by which the total assets exceed the total liabilities of a business; an
owner's financial interest in a business.
Conflicted familial pattern
The family pattern in which the family members work against one another instead of
together.
Corporate Refugees
Those individuals who flee the bureaucratic environment of big business by going into
business for themselves.
Corporation
, An artificial being, invisible, intangible, and existing only in contemplation of law; an
entity that is something that has a distinct existence separate and apart from the
existence of its individual members.
Corporation Charter
The written application for permission to incorporate that is approved by a state official.
Debt Equity (Debt Capital, Borrowed Capital)
Any borrowed or loaned capital invested in the business that must be repaid to
creditors.
Entrepreneur
One who organizes, manages, and assumes the risk of a business firm or venture.
Equity capital (Personal capital)
Capital that is invested in the business by the owner(s).
Founder
An entrepreneur who brings a new firm into existence.
Franchisee
An entrepreneur whose power is limited by a contractual relationship with a franchising
organization.
General Manager
An entrepreneur who functions as an administrator of a business.
General Partner
A partner in a limited partnership who has unlimited personal liability. A partner of a
partnership who is personally liable for the debts of the business
Goodwill
