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Bus. Mgt. - Ch. 6 Business Characteristics Vocab Review- FIX Flashcards | StudBud
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Bus. Mgt. - Ch. 6 Business Characteristics Vocab Review- FIX
Bus. Mgt. - Ch. 6 Business Characteristics Vocab Review- FIX
17 terms
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StudBud Administration
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20 plays
Students will develop their vocabulary in Business Characteristics.
Flashcards
17 cards
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Practice quiz
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Host live
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Questions
17
Answers
1
The activity of making, buying and selling goods.
Business
Franchise
None of these
Franchisor
2
A sequence of steps to be followed for performing specific task
policies
mission statement
procedures
quality control
3
A legal agreement granting permission to operate a business to sell products & services
Franchise
Franchisee
Franchisor
Entrepreneurship
4
A diagram that shows the structure of an organization
Business chart
Diagram
Organization chart
Flowchart
5
A short specific written statement of the reason a business exists and what it's to achieve.
Mission Statement
Articles of Corporation
Agreement
Contract
6
Finance
– the management of large amounts of money especially by governments or large companies
True
False
7
Partnership
– is a business owned and controlled one person.
True
False
8
Businesses involved in selling the goods and services of producers to consumers and businesses
Corporation
Intermediaries
None of these
Business
9
Franchisee
– an individual who purchases a franchise then runs that location.
True
False
10
Guidelines used in making consistent decisions regarding specific, recurring situations
Procedures
Policies
Rules
Regulations
11
Malcolm Baldrige Award was presented by the
Chinese Government
Japanese Government
United States Federal Government
Bill Gates
12
Refers to a commitment to excellence is known as
TQM
GDP
TCM
TDM
13
Small business
– is an independently owned and operated company that is large in size
True
False
14
Entrepreneur
– a person who who works for someone else.
True
False
15
Franchisee
– is the distributor of a franchised product or service
False
True
16
is a separate legal entity formed by documents filed with a state.
Corporation
Franchise
Business
Enterprise
17
firms or businesses that uses components, parts, or raw materials to make a finished good.
None of these
Manufacturing business
Manufacturing firms
Production
