Business Management Chapters 5-7 Quiz

10 Questions

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Business Management Chapters 5-7 Quiz

For a business to thrive it has to be properly managed from the human resource manager to the credit control managers. Having taken an extensive class on business management the quiz below is designed to test out what you understood in chapter 5-. 7 and how ready you are for the continuous assessment test.


Questions and Answers
  • 1. 
    A form of business that can have many owners and issue stock.
    • A. 

      Corporation

    • B. 

      Sole-proprietorship

    • C. 

      Partnership

    • D. 

      Cooperative

  • 2. 
    In this type of business, the owner is responsible for all debts.
    • A. 

      Corporation

    • B. 

      Sole-Proprietorship

    • C. 

      Partnership

    • D. 

      Cooperative

  • 3. 
    A business that takes natural resources and converts them into a consumer good.
    • A. 

      Extrator

    • B. 

      Manufacturer

    • C. 

      Marketer

    • D. 

      Wholesaler

  • 4. 
    A form of production that makes a product to fit one customers needs.
    • A. 

      Mass Production

    • B. 

      Bulk Manufacturing

    • C. 

      Custom Manufacturing

    • D. 

      Marketing

  • 5. 
    The parent company of a franchise is known as:
    • A. 

      Franchisee

    • B. 

      Franchisor

    • C. 

      Big Daddy

    • D. 

      All of the Above

  • 6. 
    Which of the following is an activity performed by businesses?
    • A. 

      Generating Ideas

    • B. 

      Raising Capital

    • C. 

      Keeping Records

    • D. 

      All of the Above

  • 7. 
    A group that is in charge of making business decisions for a corporation.
    • A. 

      Staff

    • B. 

      Board of Directors

    • C. 

      Management

    • D. 

      Proprietors

  • 8. 
    • A. 

      Marketer

    • B. 

      Extractor

    • C. 

      Manufacturer

    • D. 

      Wholesaler

  • 9. 
    A mining company is an example of a(n) _______________ because they take resources from the earth
    • A. 

      Extractor

  • 10. 
    True/False. A partnership usually issues stock to raise capital._______
    • A. 

      False

    • B. 

      True