2.01 and 2.02

2.01

100

A company sold 500 shares of stock and still relies on a central body of people for financial directions. What type of business? (a) Cooperative (b) Corporation (c) Partnership (d) Sole proprietorship

What is Corporation

200

Mary works alone in her catering business and enjoys scheduling her daily routine. She is experiencing which advantage of a sole proprietorship over a corporation? (a) owner control of decisions (b) owner limited life (c) owner recipient of 100% of profit (d) owner unlimited liability

What is owner control of decisions

300

Tami wants to invest money in shares of stock. She would have to pay taxes on her earnings twice. Which is an advantage of a sole proprietorship over a corporation? (a) limited capital (b) limited life (c) single taxation (d) unlimited liability

What is Single taxation

400

Susan opened an auto body shop after repairing a couple of cars to the high satisfaction of customers. She has experienced which advantage over a corporation? (a) double taxation (b) ease of formation (c) limited capital (d) unlimited liability

What is Ease of formation

500

Several small businesses that sell organic foods have joined together to increase their chances to pay lower prices for inventory. What type of business? (a) cooperative (b) corporation (c) franchise (d) sole proprietorship

What is Cooperative

2.01

100

Hank has ownership, even without liability over his initial investment, along with George for a local business. What type of business ownership? (a) cooperative (b) corporation (c) partnership (d) sole proprietorship

What is partnership

200

Carlos ignores minor decisions in his business even though his name is on the sign as one of the owners. What type of business? (a) corporation (b) franchise (c) partnership (d) sole proprietorship

What is Partnership

300

Chun purchased 150 shares of stock in the Panasonic Company. How many votes will she have at the next stockholder's meeting? (a) 3 (b) 30 (c) 150 (d) 300

What is 150

400

Since Jane's corporation has become so popular, she had decided to allow other businesses to sell her products. What type of business? (a) corporation (b) franchise (c) partnership (d) sole proprietorship

What is Franchise

500

Even though a company may sell share of stock, it relies on a central body of people for financial directions. What type of business? (a) cooperative (b) corporation (c) partnership (d) sole proprietorship

What is Corporation

Both

100

Mary owns stock for several companies, which she plans to pass ownership to her grandchildren. She chose this form of ownership over sole proprietorship because: (a) limited capital (b) potential of unlimited liability (c) potential of unlimited life (d) single taxation

What is Potential of unlimited life

200

Todd prefers business ownership that will not require his attention to daily activities. He chose this form of ownership over sole proprietorship because: (a) limited liability (b) recipient of 100% profit (c) single taxation (d) limited life

What is Limited liability

300

Both Bob and Jeri contributed to the expansion of their business to sell more brands of tires. They both experienced which advantage of a partnership over sole proprietorship? (a) limited liability (b) limited life (c) more capital available (d) unlimited capital

What is More capital available

400

Tami prefers working alone in her auto body shop and being in control of the daily activities. This type of business ownership advantage over corporation is: (a) control of decisions (b) limited capital (c) limited life (d) unlimited liability

What is control of decisions

500

Travis is excited about welcoming ten new interns during orientation. Which human resources manager activity did he perform? (a) managing compensation methods (b) managing performance of employees (c) planning and staffing (d) recruiting and hiring

What is Recruiting and hiring

2.02

100

Josh conducts orientations to inform new employees about available benefits. Which human resources manager activity does he perform? (a) management of compensation methods (b) management of performance of employees (c) planning and staffing (d) recruiting and hiring

What is Management of compensation methods

200

Timmy regularly meets with employees to prepare them for evaluation conferences. Which human resources manager activity is he performing? (a) managing compensation methods (b) managing performance of employees (c) planning and staffing (d) recruiting and hiring

What is managing performance of employees

300

Harry checks his electronic calendar for tasks assigned by his boss regularly. He very seldom sees his boss. This is an example of which style of leadership? (a) autocratic (b) democratic (c) laissez-fare (d) objective

What is laissez-faire

400

Peggy accepts input from her employees annually about the upcoming budget. This is an example of which style of leadership? (a) autocratic (b) democratic (c) laissez-fare (d) objective

What is democratic

500

Keisha allowed her employees to plan the expansion project. This is an example of which style of management? (a) mixed (b) strategic (c) tactical (d) varied

What is strategic

2.02

100

Tim approves for his employees to attend regional meetings so that he knows exactly when they are off site. This is an example of which style of management? (a) mixed (b) strategic (c) tactical (d) varied

What is tactical

200

Josh is responsible for processing applications submitted by applicants. He is performing which level of management? (a) management by others (b) mid-management (c) supervisors (d) top management

What is mid-management

300

Jack and Henry are responsible for 20 people, who report to them directly. They collaborate frequently to make sure they will meet the production goal of the company established by another employee. What level of management? (a) management by others (b) mid-management (c) supervisors (d) top management

What is Supervisors

400

All of Josh's employees will be trained on operating the new machines. This is an example of which function of management? (a) controlling (b) implementing (c) organizing (d) staffing

What is staffing

500

Sarah coordinated access to open source software, office space, and equipment for her team. This is an example of which function of management? (a) implementing (b) organizing (c) planning (d) staffing

What is implementing