Exam intro

What does corporate taxation mean

Companies must pay taxes on their earnings, and then stockholders pay taxes on their dividends

Your towns local hardware store has serve the community for over 70 years. However, business has been way down ever since two big box hard hardware stores I've been less than 10 minutes away. This local hardware stores looking to cut costs and increase marketing efforts as a response to changing_____in the business environment

Competitive factors

And entrepreneur needs the ability to act decisively NBA leader of the business. This relates to entrepreneurial characteristics of

Confidence

The Wilson furniture company has been existence For 75 years and we started as a family business. However, all members from the single business has since passed away none of the current owners are part of the Wilson family. The business is most likely a

Corporation

CPI increase by 10% last night, alarming economist. This news is an indication that

Deflation may be spiraling out of control

Susan believes that circumstances pretty much determine her opportunities and whether she'll succeed. Susan lacks which characteristic of successful entrepreneur

Internal drive

Deflation

Is a general decrease in the level of prices

When the owner of a soul proprietorship dies, what becomes of the business

It ceases to exist unless the heirs take it over or sell it

The lawyer for a group of workers at a meat packing plant hold a news conference to discuss the high rate of injured experienced by these workers. The highlights which potential concern about the impact of the business on society?

Health and safety risk

Aidan just graduated with a degree in business. The local insurance company has experienced tremendous growth and profits in the last three years. As a result, they are expanding, and Aiden immediately gets the opportunity to work in the claims department. If all goes well, he'll move up to management next year. This is an example of the insurance company providing what benefit to society

Increased employment

Studies about entrepreneurship reveal that

More than 70% of Americans would prefer to be an entrepreneur

If Nike offers a variety of shoes styles, upgrades their shoes to last longer, and begins utilizing more environmentally friendly glues in the manufacturing process this is an example of them benefiting society in what way

Offering valuable products

Often small firms seek to establish a particular niche in the market that closely saves the needs of certain customers. When a number of small businesses operate in this manner, it forces larger businesses to recognize an account for those influence on the market. This is an example of small businesses

Providing competition

Economist define a_____ as two consecutive three month period of decline in countries gross domestic product

Recession

Which of the following is a feature of laissez-faire capitalism

Right to own private property and resources

Which of the following ownership structures hold a business owner personally responsible for all debts of the business

Silver proprietorship

Disciplines former business owned and operated by one person is

Sole proprirtorship

A limited liability company is

Subject to pass-through taxation

What is the primary disadvantage of a soul proprietorship that a corporation overcomes

Unlimited liability

Which form of business is the easiest to start

sole proprietorship

An undercover investigation of large electronics manufacturing plants overseas reveal that employees often work in crowded conditions for long hours, and are exposed to a variety of hazardous chemicals. In addition, it was suspected that some of these chemicals are disposed of in nearby drainage pipes that lead to the sea. These are examples of which two concerns regarding the impact of business on society

Health and safety risk and environmental damage

Before seeking financial backing for his business, Tyler puts together a document explaining the goals, milestones , and projections of the business. Tower has constructed a

Business plan

Which of the following statements about corporations in True

Corporations can deduct certain business expense that other forms of businesses can't, which could lower the amount of money subjected to taxes

Penicillin, airplanes, and air conditioning we're all

Created by individual inventors and small companies

Which of the following is the best example of how technology factors affect the business environment

Eighty percent of Fortune 500 companies have a presence on Facebook

Entrepreneurs will only put in long hours making your business dreams come true. This relates to the entrepreneurial characteristics of

Energy

A new regulation requires the local Cole Plant to install filter and technology Jared is there a Carban emissions by 50%. Purchasing the necessary equipment is too expensive for this business, forcing them to close the plant and lay off it's 500 employees although The intent of the new regulation was to address potential ______ caused by the plant, the closing of the business will likely cause _____ in this community, as many of its residence relied on jobs at the plant.

Environmental damage, and social disruption

A person Most are in stock in a corporation to be considered a stakeholder

False

Because e-businesses use the Internet, there is no need to meet the needs of their customers.

False

For resources that I businessman is used to operate successfully include material resources, human resources, financial resources, and operational resources

False

How the price of homes affect the number of homes built and sold would be the economic issue started in the macroeconomics course

False

I mean disadvantage of a small businesses that employees and customers usually develop to close of a relationship

False

Increased competition from firms in other nations is an example of which factor in the business environment

Global

The increase of manufacturing and labor wage countries like China is part of the reason prices for DVD players and televisions have continued to decrease Even as technology has improved. This is a benefit of _____factors in the business environment

Global

Which of the following is not an advantage of a sole proprietorship

It has unlimited liability.

When distinction that defines a small business is that

It is not dominant in its field

You are starting a construction business with a friend. You were each on 50% of the business, but you will get 60% of profits. Your business partner will get the other 40%. Do you want to ensure that the business offers liability protection against unpaid resources debts and legal liabilities. Which form of business best major needs

LLC

According to Adam Smith, the role of government in Capitol society should be

Limited to providing defense against foreign enemies, ensuring internal order, and furnishing public works in education

Entrepreneurial spirit is the desire to create a new business

True

If a firm sales Revenue exceeds its expenses, the firm has earned a profit

True

In order for a business to be successful, it must be organized, it must be satisfy needs, and it must make a profit

True

Karl Marx is known as the father of communism

True

The SBA has defined a small business as one independently owned, operated for-profit, and not dominant and it's field

True

The ultimate goal of every business firm should be to satisfy the needs of its customers

True

Unlike a person, a corporation exist only on paper

True

All of the following or advantage of the partnership from of organization except

Unlimited liability

Fluctuations in a nations economy are referred to as its

business cycle

In a free enterprise system, federal and state governments decide what products and services to provide

False

The SBA is a private organization rather than a government agency

False

The four basic questions in a capitalist economy or what to produce, how to produce, who should produce, and when to produce

False

If you have trouble finding a job because the majority of businesses have failing revenue and profits you are being impacted by what factor of the business environment

Economic

Which of the following is one of the four key considerations when choosing business ownership structure

Taxation and division of profits

Which of the following is one of the four key considerations when choosing business ownership structures

Taxation and division of profits

And individuals desire to create a new business is referred to as

The entrepreneurial spirit

The most effective form of business organization for raising capital is the

corporation

According to economist, inflation is

A general rise in the level of prices

You see adjourning article online mentioning that the unemployment rate has decreased by 2% in the last year. This means that

A bigger percentage of the nation's labor force is working compared to last year

Which of the following is necessary for starting a sole proprietorship

A business license

Popular US television show like shark tank and how I made my millions celebrated the entrepreneurial spirit. This is an example of

A culture of entrepreneurship

Capitalism stems from the theories of which 18th-century Scottish Economist

Adam Smith

Which of the following would be considered a benefit of business in society

Adding jobs to the community

In a communist country set such as Cuba, how is production planned

Based on government demands

Leon has worked for a small tour and our company for several years. The owner is retiring, and Leon has an opportunity to purchase the business. However, he plans to retire in 10 years, and he knows that neither of his children has any desire to work in the business. What appears to be Leon key consideration and she's in the annoying ship structure

Business control and transfer of ownership

The United States, whose economy exhibit elements of both capitalism and Socialism, has what it is known as a______ Economy economy

Mixed

After several years of her unemployment rates, the businesses are hiring more employees after reporting several quarters of increased profits. The economy is likely in a

Recovery phase

Bobs diary whip covers its profits are down from the previous quarter. Which of the following would not be an explanation for the decrease in profits

Sales revenue stayed the same one expenses decreased

Relationship between cells and profits can be written as

Sales revenue-expenses=Profit

GM once employed thousands of people in the Midwest. For variety of reasons GM close those factories removed them to different locations. As a result, thousands of people were laid off and not able to find jobs that paid as well. This is an example of

Social disruption

Mini small communities attempt to block Walmart from opening new stores in their towns. Are there any new Walmart location can add hundreds of jobs, It tends to increase traffic and drive "mom and pop shops" Out of business. This is an example of

Social disruption

Karen Howard loves to cook and receives unqualified praise whenever she prepares a meal for someone. Encouraged by these compliments and eager to put her culinary talents to good use, care and decides to open a small neighborhood restaurant.Because she plans to maintain complete ownership and control of the business, she will most likely organize it as a

Sole proprietorship

Are you working knowledge of our business system combine with technical skills can give an applicant an advantage in looking for a job

True

Amazon is now one of the top 10 largest retailers in the United States, even though they don't have any substantial physical retail presence. This illustrates the impact of ______ factors in the business environment

Technology

In terms of business ownership, unlimited liability means

The owner is responsible for all business debt and legal liabilities

Small businesses are typically managed by

The people who store and own them

Pedro's mom always knew he would make a great entrepreneur. Even before he found it his successful construction business, he had several other small businesses. They didn't work for one reason or another, but Pedro learn from each failure and never gave up on his dream of owning his own company. Pedro's mom knew Pedro had

Tolerance of uncertainty

Tim Garner owns and operates his own small automobile repair shop. However, the prices he can charge are fixed, and he rents his land and building from the government. Most of his friends work for industries owned by the government. Tim's country is most likely a(n) ____ economy.

socialist