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Intro to Business Review: Chapter 6-8 Flashcards | StudBud
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Intro to Business Review: Chapter 6-8
Intro to Business Review: Chapter 6-8
30 terms
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StudBud Administration
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#Businesss ownership
Flashcards
30 cards
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Practice quiz
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Questions
30
Answers
1
An effective leader DOES NOT necessarily have
integrity
confidence
people who agree with their decisions
good communications skills
2
Day-to-day management of employees would be handled by
Director
Supervisor
CFO
All of the above
3
Which of these does not belong?
Corporation
Partnership
Sole proprietorship
Small business administration
4
If many different managers have authority, the business structure is
Centralized
Line authority
Decentralized
Line and staff authority
5
All of the following are advantages of a partnership EXCEPT
responsible for partnership debts
that the partners make decisions together.
partners bring different skills/talents to the business
banks more willing to lend money to ptrship than a sole prop
6
Retailers get their goods from
partnerships
dealers.
consumers.
wholesalers.
7
The study of how people interact and how communications can improve
marketing
human relations
role playing
interpersonal
8
Can someone learn how to be a leader?
No
Yes
9
All of the following can be said about an effective manager EXCEPT
can lead
is a team player
has an accounting degree
started as an entry level employee
10
Most people enter the job market as a(n)
functional manager
top manager
entry level employee
operational manager
11
"Initiative" means to
working as part of a team
read a "how-to" manual
completing a task on time
figuring out how to effectively handle a problem
12
Chief Executive officer is an example of
Top level management
Middle management
Supervisory management
Operational management
13
A police officer directing people in an emergency situation uses
autocratic leadership
free rein leadership
democratic leadership
consensus leadership
14
Management function that involves
obtaining/coordinating
resources
organizing
controlling
leading
planning
15
Which of these is a disadvantage to a corporate structure?
Double taxation
More captial
Limited liability
Board of Directors
16
In a self-managed team, the leader can be described as
autocratic leader
team player
manager
committee member
17
Unlimited liability means
owner is responsible for the company’s debts
the owner must have insurance.
owner shares the liability with the company’s stockholders
owner is responsible for accidents on business property
18
According to the SBA, how many businesses in the US are sole proprietorships
almost 95%
About 50%
Over 75%
Under 25%
19
Autocratic leadership does not inlclude
self-managed team
One decision maker
20
The leadership style that places the most trust and confidence in workers is
Committee
Autocratic
Free-rein
Democratic
21
The process of creating goals and objectives as well as strategies to meet them is
planning
controlling
leading
organizing
22
Which management structure can lead to over-staffing?
Centralized
Decentralized
Line
Line and staff
23
Which business structure has "limited liability"?
Corporations
Sole Proprietor
Partnership
Franchise
24
Which statement is
not necessarily true
about leaders?
Leadership qualities can be learned
Leaders are born
Leaders can motivate others
Leaders have integrity
25
Giving managers and employees the power to run things is called
divesting
directing
delegating
dictating
26
In order to start a corporation, the first thing one must do is
start bank accounts.
hire employees.
hire an accountant and an attorney
obtain a corporate charter from the state government.
27
An example of democratic leadership would be
a police officer directing traffic.
general commanding troops.
company president who works with a board of directors.
a fire captain directing activities at a fire
28
Which of these is not a leadership skill?
Decision maker
Smell goood
Motivator
Self-confident
29
Informal management structures would mostly exist in
Small businesses
Corporations
LLCs
30
Process of achieving goals with planning, organizing, leading and controlling is
Accounting
Procurement
Management
Operations