DECA: Principles of Business Management
and Administration (performance
indicators)
Discuss the nature of law and sources of law in the United States. - ✔ CORRECT ANSWER
✓✓Law is used to keep order in civilization. This can be enforced by the police or higher
government officials.
Describe the United States' judicial system - ✔ CORRECT ANSWER ✓✓The Judiciary is made up
of courts -- Supreme, Circuit, the magistrate (local) and municipal (city) courts. The Judicial
branch interprets the laws.
Describe legal issues affecting businesses (SP) - ✔ CORRECT ANSWER ✓✓Disgruntled
Employees
Discrimination/Harassment Cases
Harassment
Immigration Audits
Copyright and Patent Issues
Identify the basic torts relating to business enterprises (SP) - ✔ CORRECT ANSWER ✓✓The area
of tort law covers a wide range of misconduct, including personal injuries, negligence, and
malpractice.
Wrongful Interference
Unfair Competition
Disparagement
Computer Torts
, Describe the nature of legally binding contracts (SP) - ✔ CORRECT ANSWER ✓✓Generally, to be
legally valid, most contracts must contain two elements:
1. All parties must agree about an offer made by one party and accepted by the other.
2. Something of value must be exchanged for something else of value. This can include goods,
cash, services, or a pledge to exchange these items.
Describe the nature of legal procedure (SP) - ✔ CORRECT ANSWER ✓✓he rules by which a court
hears and determines what happens in civil lawsuit, criminal or administrative proceedings.
Discuss the nature of debtor-creditor relationships (SP) - ✔ CORRECT ANSWER ✓✓A creditor
provides money to an individual. Until the individual repays the amount, they are considered a
debtor.
Explain the nature of agency relationships (SP) - ✔ CORRECT ANSWER ✓✓an area of
commercial law dealing with a set of contractual, quasi-contractual and non-contractual
fiduciary relationships that involve a person, called the agent, that is authorized to act on behalf
of another (called the principal) to create legal relations with a third party.
Discuss the nature of environmental law (SP) - ✔ CORRECT ANSWER ✓✓A legal forum for
environmental and natural resources
Discuss the role of administrative law (SP) - ✔ CORRECT ANSWER ✓✓the body of law that
regulates the operation and procedures of government agencies.
Explain what it means to have sole proprietorship (CS) - ✔ CORRECT ANSWER ✓✓A sole
proprietorship is owned and run by one individual who receives all profits and has unlimited
responsibility for all losses and debts.
, Explain what it means to have General Partnership (CS) - ✔ CORRECT ANSWER ✓✓A General
Partnership is composed of 2 or more persons (usually not a married couple) who agree to
contribute money, labor, or skill to a business. Each partner shares the profits, losses, and
management of the business, and each partner is personally and equally liable for debts of the
partnership. Formal terms of the partnership are usually contained in a written partnership
agreement.
Explain what it means to have Limited Partnership (CS) - ✔ CORRECT ANSWER ✓✓A Limited
Partnership is composed of one or more general partners and one or more limited partners. The
general partners manage the business and share fully in its profits and losses. Limited partners
share in the profits of the business, but their losses are limited to the extent of their
investment.
Explain what it means to have Limited Liability Partnership (LLP) (CS) - ✔ CORRECT ANSWER
✓✓A Limited Liability Partnership (LLP) is similar to a General Partnership except that normally a
partner doesn't have personal liability for the negligence of another partner. This business
structure is used most by professionals, such as accountants and lawyers.
Explain what it means to have Limited Liability Limited Partnership (LLLP) (CS) - ✔ CORRECT
ANSWER ✓✓A Limited Liability Limited Partnership is a Limited Partnership that chooses to
become an LLLP by including a statement to that effect in its certificate of limited partnership.
This type of business structure may shield general partners from liability for obligations of the
LLLP.
Explain what it means to have Corporation (CS) - ✔ CORRECT ANSWER ✓✓A Corporation is a
more complex business structure. A corporation has certain rights, privileges, and liabilities
beyond those of an individual. Doing business as a corporation may yield tax or financial
benefits, but these can be offset by other considerations, such as increased licensing fees or
decreased personal control. Corporations may be formed for profit or nonprofit purposes.
Explain what it means to have Limited Liability Company (LLC) (CS) - ✔ CORRECT ANSWER ✓✓A
Limited Liability Company (LLC) is formed by 1 or more individuals or entities through a special
, written agreement. The agreement details the organization of the LLC, including provisions for
management, assignability of interests, and distribution of profits and losses. LLCs are permitted
to engage in any lawful, for-profit business or activity other than banking or insurance.
Explain what it means to have Trust (CS) - ✔ CORRECT ANSWER ✓✓A Trust is a legal
relationship in which one person, called the trustee, holds property for the benefit of another
person, called the beneficiary.
Explain what it means to have Joint Venture (CS) - ✔ CORRECT ANSWER ✓✓A Joint Venture is
formed for a limited length of time to carry out a business transaction or operation.
Identify sources that provide relevant, valid written material (PQ) - ✔ CORRECT ANSWER
✓✓Legal documents that are valid should be signed, dated and sourced
Extract relevant information from written materials (PQ) - ✔ CORRECT ANSWER ✓✓closely
connected or appropriate to the matter at hand.
Apply written directions to achieve tasks (PQ) - ✔ CORRECT ANSWER ✓✓Don't assume, always
follow up to confirm instructions.
Analyze company resources to ascertain policies and procedures (CS) - ✔ CORRECT ANSWER
✓✓Company resources can be any information regarding the company.
EX: Handbook, Evaluations, Instructional Content
Explain communication techniques that support and encourage a speaker (PQ) - ✔ CORRECT
ANSWER ✓✓Positive reinforcement as well as attentiveness help support and encourage a
speaker.
and Administration (performance
indicators)
Discuss the nature of law and sources of law in the United States. - ✔ CORRECT ANSWER
✓✓Law is used to keep order in civilization. This can be enforced by the police or higher
government officials.
Describe the United States' judicial system - ✔ CORRECT ANSWER ✓✓The Judiciary is made up
of courts -- Supreme, Circuit, the magistrate (local) and municipal (city) courts. The Judicial
branch interprets the laws.
Describe legal issues affecting businesses (SP) - ✔ CORRECT ANSWER ✓✓Disgruntled
Employees
Discrimination/Harassment Cases
Harassment
Immigration Audits
Copyright and Patent Issues
Identify the basic torts relating to business enterprises (SP) - ✔ CORRECT ANSWER ✓✓The area
of tort law covers a wide range of misconduct, including personal injuries, negligence, and
malpractice.
Wrongful Interference
Unfair Competition
Disparagement
Computer Torts
, Describe the nature of legally binding contracts (SP) - ✔ CORRECT ANSWER ✓✓Generally, to be
legally valid, most contracts must contain two elements:
1. All parties must agree about an offer made by one party and accepted by the other.
2. Something of value must be exchanged for something else of value. This can include goods,
cash, services, or a pledge to exchange these items.
Describe the nature of legal procedure (SP) - ✔ CORRECT ANSWER ✓✓he rules by which a court
hears and determines what happens in civil lawsuit, criminal or administrative proceedings.
Discuss the nature of debtor-creditor relationships (SP) - ✔ CORRECT ANSWER ✓✓A creditor
provides money to an individual. Until the individual repays the amount, they are considered a
debtor.
Explain the nature of agency relationships (SP) - ✔ CORRECT ANSWER ✓✓an area of
commercial law dealing with a set of contractual, quasi-contractual and non-contractual
fiduciary relationships that involve a person, called the agent, that is authorized to act on behalf
of another (called the principal) to create legal relations with a third party.
Discuss the nature of environmental law (SP) - ✔ CORRECT ANSWER ✓✓A legal forum for
environmental and natural resources
Discuss the role of administrative law (SP) - ✔ CORRECT ANSWER ✓✓the body of law that
regulates the operation and procedures of government agencies.
Explain what it means to have sole proprietorship (CS) - ✔ CORRECT ANSWER ✓✓A sole
proprietorship is owned and run by one individual who receives all profits and has unlimited
responsibility for all losses and debts.
, Explain what it means to have General Partnership (CS) - ✔ CORRECT ANSWER ✓✓A General
Partnership is composed of 2 or more persons (usually not a married couple) who agree to
contribute money, labor, or skill to a business. Each partner shares the profits, losses, and
management of the business, and each partner is personally and equally liable for debts of the
partnership. Formal terms of the partnership are usually contained in a written partnership
agreement.
Explain what it means to have Limited Partnership (CS) - ✔ CORRECT ANSWER ✓✓A Limited
Partnership is composed of one or more general partners and one or more limited partners. The
general partners manage the business and share fully in its profits and losses. Limited partners
share in the profits of the business, but their losses are limited to the extent of their
investment.
Explain what it means to have Limited Liability Partnership (LLP) (CS) - ✔ CORRECT ANSWER
✓✓A Limited Liability Partnership (LLP) is similar to a General Partnership except that normally a
partner doesn't have personal liability for the negligence of another partner. This business
structure is used most by professionals, such as accountants and lawyers.
Explain what it means to have Limited Liability Limited Partnership (LLLP) (CS) - ✔ CORRECT
ANSWER ✓✓A Limited Liability Limited Partnership is a Limited Partnership that chooses to
become an LLLP by including a statement to that effect in its certificate of limited partnership.
This type of business structure may shield general partners from liability for obligations of the
LLLP.
Explain what it means to have Corporation (CS) - ✔ CORRECT ANSWER ✓✓A Corporation is a
more complex business structure. A corporation has certain rights, privileges, and liabilities
beyond those of an individual. Doing business as a corporation may yield tax or financial
benefits, but these can be offset by other considerations, such as increased licensing fees or
decreased personal control. Corporations may be formed for profit or nonprofit purposes.
Explain what it means to have Limited Liability Company (LLC) (CS) - ✔ CORRECT ANSWER ✓✓A
Limited Liability Company (LLC) is formed by 1 or more individuals or entities through a special
, written agreement. The agreement details the organization of the LLC, including provisions for
management, assignability of interests, and distribution of profits and losses. LLCs are permitted
to engage in any lawful, for-profit business or activity other than banking or insurance.
Explain what it means to have Trust (CS) - ✔ CORRECT ANSWER ✓✓A Trust is a legal
relationship in which one person, called the trustee, holds property for the benefit of another
person, called the beneficiary.
Explain what it means to have Joint Venture (CS) - ✔ CORRECT ANSWER ✓✓A Joint Venture is
formed for a limited length of time to carry out a business transaction or operation.
Identify sources that provide relevant, valid written material (PQ) - ✔ CORRECT ANSWER
✓✓Legal documents that are valid should be signed, dated and sourced
Extract relevant information from written materials (PQ) - ✔ CORRECT ANSWER ✓✓closely
connected or appropriate to the matter at hand.
Apply written directions to achieve tasks (PQ) - ✔ CORRECT ANSWER ✓✓Don't assume, always
follow up to confirm instructions.
Analyze company resources to ascertain policies and procedures (CS) - ✔ CORRECT ANSWER
✓✓Company resources can be any information regarding the company.
EX: Handbook, Evaluations, Instructional Content
Explain communication techniques that support and encourage a speaker (PQ) - ✔ CORRECT
ANSWER ✓✓Positive reinforcement as well as attentiveness help support and encourage a
speaker.
