BUS-100 Exam 3 – Introduction to Business – 2026 – Study and Practice Guide
Components of a Business Plan - correct answer ✔✔ Cover/Contents
Executive Summary
Co./Management Team
Market Analysis
The Product
Sales and Promotion
Financials
Appendices
Why every BUS plan is different - correct answer ✔✔ Because the components of each
company differ
What goes into the appendices of a BUS plan? - correct answer ✔✔ Resumes
Pictures of Product/Facilities
Letters of Recommendation
Published information
Contracts/patents/copyrights/etc.
Media/articles
What info does HR keep on each employee? - correct answer ✔✔ Anything relevant to
employee performance???
Job Description vs Job Specification - correct answer ✔✔ Description - Summarizes what an
employee will do in a certain role if they are hired
Specifications - All of the attributes the individual needs to be qualified for that role
, Internal vs External Recruiting - correct answer ✔✔ Internal - Fills the position from within the
company
External - You open up the posting to the public. Sometimes this will involve setting it up on job
sites or contacting recruiters to find a good candidate
HR Laws - correct answer ✔✔ Federal Equal Employment Opportunity - Non-discriminatory law
Civil Rights Act of 1964 - No discrimination based on race, age, gender, etc.
Americans with Disabilities Act - Cannot discriminate based on disability
Age Discrimination in Employment Act - Duh
Fair Labor Standards Act - Established minimum wage and child labor laws
Different Types of Pay - correct answer ✔✔ Salary - A set amount you will be paid at the end of
term
Wages - Pay for hourly work
Incentive-based pay - ie. Sales commission
Bonuses - Extra money based on the company bottom line that increase employee efforts
What is a 401K and 403B - correct answer ✔✔ A retirement plan where employees invest a
certain amount of money pre-tax. The employee is responsible for how much goes in, but
another person manages the investment. (A 403B is the non-prof version)
What is a PPC - correct answer ✔✔ A Pay-per-click ad. Advertiser only pays only for the number
of times a Web surfer clicks their ads
B2B/B2C/C2C - correct answer ✔✔ B2B - Business to business - The exchange of products,
services, and info between businesses on the internet
B2C - Business to consumer - Just the way it sounds. Companies selling their products online
Components of a Business Plan - correct answer ✔✔ Cover/Contents
Executive Summary
Co./Management Team
Market Analysis
The Product
Sales and Promotion
Financials
Appendices
Why every BUS plan is different - correct answer ✔✔ Because the components of each
company differ
What goes into the appendices of a BUS plan? - correct answer ✔✔ Resumes
Pictures of Product/Facilities
Letters of Recommendation
Published information
Contracts/patents/copyrights/etc.
Media/articles
What info does HR keep on each employee? - correct answer ✔✔ Anything relevant to
employee performance???
Job Description vs Job Specification - correct answer ✔✔ Description - Summarizes what an
employee will do in a certain role if they are hired
Specifications - All of the attributes the individual needs to be qualified for that role
, Internal vs External Recruiting - correct answer ✔✔ Internal - Fills the position from within the
company
External - You open up the posting to the public. Sometimes this will involve setting it up on job
sites or contacting recruiters to find a good candidate
HR Laws - correct answer ✔✔ Federal Equal Employment Opportunity - Non-discriminatory law
Civil Rights Act of 1964 - No discrimination based on race, age, gender, etc.
Americans with Disabilities Act - Cannot discriminate based on disability
Age Discrimination in Employment Act - Duh
Fair Labor Standards Act - Established minimum wage and child labor laws
Different Types of Pay - correct answer ✔✔ Salary - A set amount you will be paid at the end of
term
Wages - Pay for hourly work
Incentive-based pay - ie. Sales commission
Bonuses - Extra money based on the company bottom line that increase employee efforts
What is a 401K and 403B - correct answer ✔✔ A retirement plan where employees invest a
certain amount of money pre-tax. The employee is responsible for how much goes in, but
another person manages the investment. (A 403B is the non-prof version)
What is a PPC - correct answer ✔✔ A Pay-per-click ad. Advertiser only pays only for the number
of times a Web surfer clicks their ads
B2B/B2C/C2C - correct answer ✔✔ B2B - Business to business - The exchange of products,
services, and info between businesses on the internet
B2C - Business to consumer - Just the way it sounds. Companies selling their products online
