1
PoB Final Study Set (2nd half of
semester) 2026 Questions and
Answers (100% Correct Answers)
Already Graded A+
Bilk Ans: Cheat, swindle, defraud
Business risk Ans: The possibility of loss (failure) or gain
© 2026 Assignment
(success) inherent in conducting business
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Competition Ans: The rivalry between two or more
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businesses to attract scarce customer dollars
Contract Ans: Agreement between two or more businesses
or individuals stating that one party is to do something in
return for something provided by the other party
Corporation Ans: A form of business ownership that is
owned by stockholders who have purchased units or
shares of the company
Demand Ans: The quantity of a good or service that
buyers are ready to buy at a given price at a particular
time
Demographics Ans: The physical and social characteristics
of the population
External risks Ans: Financial risks that a business cannot
control, such as inflation and interest rate fluctuations
, 2
Financial risk Ans: Possible events and situations that
directly impact a company's cash flow
Free enterprise Ans: An economic system in which
individuals and groups, rather than the government, own
or control the means of production—the human and
natural resources and capital goods used to produce goods
and services; also known as private enterprise
Guarantee Ans: A promise made to the consumer that a
© 2026 Assignment
product's purchase price will be refunded if the product is
not satisfactory; often called a money-back guarantee
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Expert
Hazard risks Ans: Potential events or situations that can
cause injury or harm to people, property, or the
environment
Insurance Ans: A contractual agreement in which one
company (insurer) will pay for specified losses incurred by
the other company (insured) in return for installment
payments (premium)
Internal risks Ans: Financial risks that are controlled by
the business, such as poor budgeting, inaccurate financial
data, and inadequate accounting processes
Investment Ans: The use of money to generate a profit or
gain
Lease Ans: A contract to use property that belongs to
someone else for a specific period of time and for a
specific amount of money
, 3
Liability insurance Ans: A contractual agreement that
provides compensation for losses that a person or
business is responsible for
Markets Ans: Arrangements for the buying and selling of
goods and services
Obsolescence Ans: The state of being outmoded or
unfashionable
© 2026 Assignment
Operational risks Ans: Possible events and situations
resulting from employee actions, core processes, and daily
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business activities
Expert
Partnership Ans: A form of business ownership in which
the business is owned by two or more persons
Profit Ans: Monetary reward a business owner receives for
taking the risk involved in investing in a business
Pure risks Ans: Chances of loss that carry with them the
possibility of loss or no loss
Return Ans: Income received from an investment
Revenue Ans: Income
Shareholder Ans: Anyone who owns stock in a corporation;
also known as a stockholder
Sole proprietorship Ans: A business owned by one person
who receives all the profits from the business and takes all
the risks
, 4
Speculative risks Ans: Chances of loss that may result in
loss, no change, or gain
Strategic risks Ans: Possible events and situations that can
affect the execution of an organization's long-term plans
Surety bond Ans: A guarantee that protects a business
when another person or business fails to fulfill the terms
of a contract between them
© 2026 Assignment
Warranty Ans: A promise made by the seller to the
consumer that the seller will repair or replace a product
Guru01 - Stuvia
that does not perform as expected
Expert
Celler-Kefauver Antimerger Act Ans: A federal regulation
intended to protect competitors from takeovers that would
limit competition
Clayton Act Ans: A federal regulation intended to prevent
specific business actions that might prohibit competition
(e.g., tying agreements and exclusive agreements)
Direct competition Ans: Rivalry between or among
businesses that offer similar types of goods or services
Efficient Ans: Using minimum amounts of resources to the
best advantage
Exclusive agreement Ans: An illegal agreement that forbids
customers from buying goods and services from
competitors
PoB Final Study Set (2nd half of
semester) 2026 Questions and
Answers (100% Correct Answers)
Already Graded A+
Bilk Ans: Cheat, swindle, defraud
Business risk Ans: The possibility of loss (failure) or gain
© 2026 Assignment
(success) inherent in conducting business
Guru01 - Stuvia
Competition Ans: The rivalry between two or more
Expert
businesses to attract scarce customer dollars
Contract Ans: Agreement between two or more businesses
or individuals stating that one party is to do something in
return for something provided by the other party
Corporation Ans: A form of business ownership that is
owned by stockholders who have purchased units or
shares of the company
Demand Ans: The quantity of a good or service that
buyers are ready to buy at a given price at a particular
time
Demographics Ans: The physical and social characteristics
of the population
External risks Ans: Financial risks that a business cannot
control, such as inflation and interest rate fluctuations
, 2
Financial risk Ans: Possible events and situations that
directly impact a company's cash flow
Free enterprise Ans: An economic system in which
individuals and groups, rather than the government, own
or control the means of production—the human and
natural resources and capital goods used to produce goods
and services; also known as private enterprise
Guarantee Ans: A promise made to the consumer that a
© 2026 Assignment
product's purchase price will be refunded if the product is
not satisfactory; often called a money-back guarantee
Guru01 - Stuvia
Expert
Hazard risks Ans: Potential events or situations that can
cause injury or harm to people, property, or the
environment
Insurance Ans: A contractual agreement in which one
company (insurer) will pay for specified losses incurred by
the other company (insured) in return for installment
payments (premium)
Internal risks Ans: Financial risks that are controlled by
the business, such as poor budgeting, inaccurate financial
data, and inadequate accounting processes
Investment Ans: The use of money to generate a profit or
gain
Lease Ans: A contract to use property that belongs to
someone else for a specific period of time and for a
specific amount of money
, 3
Liability insurance Ans: A contractual agreement that
provides compensation for losses that a person or
business is responsible for
Markets Ans: Arrangements for the buying and selling of
goods and services
Obsolescence Ans: The state of being outmoded or
unfashionable
© 2026 Assignment
Operational risks Ans: Possible events and situations
resulting from employee actions, core processes, and daily
Guru01 - Stuvia
business activities
Expert
Partnership Ans: A form of business ownership in which
the business is owned by two or more persons
Profit Ans: Monetary reward a business owner receives for
taking the risk involved in investing in a business
Pure risks Ans: Chances of loss that carry with them the
possibility of loss or no loss
Return Ans: Income received from an investment
Revenue Ans: Income
Shareholder Ans: Anyone who owns stock in a corporation;
also known as a stockholder
Sole proprietorship Ans: A business owned by one person
who receives all the profits from the business and takes all
the risks
, 4
Speculative risks Ans: Chances of loss that may result in
loss, no change, or gain
Strategic risks Ans: Possible events and situations that can
affect the execution of an organization's long-term plans
Surety bond Ans: A guarantee that protects a business
when another person or business fails to fulfill the terms
of a contract between them
© 2026 Assignment
Warranty Ans: A promise made by the seller to the
consumer that the seller will repair or replace a product
Guru01 - Stuvia
that does not perform as expected
Expert
Celler-Kefauver Antimerger Act Ans: A federal regulation
intended to protect competitors from takeovers that would
limit competition
Clayton Act Ans: A federal regulation intended to prevent
specific business actions that might prohibit competition
(e.g., tying agreements and exclusive agreements)
Direct competition Ans: Rivalry between or among
businesses that offer similar types of goods or services
Efficient Ans: Using minimum amounts of resources to the
best advantage
Exclusive agreement Ans: An illegal agreement that forbids
customers from buying goods and services from
competitors
