BUS 120 FINAL EXAM QUESTIONS AND ANSWERS
The four primary functions of management are - Answers - Planning, organizing,
leading and controlling
______ can be produced independently of the consumer and then stored and shipped -
Answers - goods
______ refers to computer programs that provide instructions for a computer to execute
a desired task - Answers - software
______ refers to the physical components used to collect, store, organize, and process
data and to distribute information - Answers - hardware
The Fair Labor Standards Act of 1938 established a minimum wage and overtime pay
for employees working - Answers - More than 40 hours a week
______ include compensation such as health insurance, sick leave, and childcare or
eldercare programs offered to an employer's workers - Answers - benefits
______ refers to the combination of pay and benefits that employees receive in
exchange for their work - Answers - compensation
______ are consumed when and where they are produced and they often require the
customer to be actively involved in their production - Answers - services
A ______ measures the ability to pay short-term liabilities as they come due - Answers -
liquidity ratio
The majority of businesses today are formed as ______ - Answers - sole
proprietorships
Stockholders are ______ of a corporation. They have the right to vote on issues
affecting the operation of the business - Answers - owners
______ are professionally managed funds that pool the contributions of thousands of
investors - Answers - mutual funds
The party in a franchise relationship that pays for the right to use resources supplied by
another business entity is known as the - Answers - franchisee
The four primary functions of management are - Answers - Planning, organizing,
leading and controlling
______ can be produced independently of the consumer and then stored and shipped -
Answers - goods
______ refers to computer programs that provide instructions for a computer to execute
a desired task - Answers - software
______ refers to the physical components used to collect, store, organize, and process
data and to distribute information - Answers - hardware
The Fair Labor Standards Act of 1938 established a minimum wage and overtime pay
for employees working - Answers - More than 40 hours a week
______ include compensation such as health insurance, sick leave, and childcare or
eldercare programs offered to an employer's workers - Answers - benefits
______ refers to the combination of pay and benefits that employees receive in
exchange for their work - Answers - compensation
______ are consumed when and where they are produced and they often require the
customer to be actively involved in their production - Answers - services
A ______ measures the ability to pay short-term liabilities as they come due - Answers -
liquidity ratio
The majority of businesses today are formed as ______ - Answers - sole
proprietorships
Stockholders are ______ of a corporation. They have the right to vote on issues
affecting the operation of the business - Answers - owners
______ are professionally managed funds that pool the contributions of thousands of
investors - Answers - mutual funds
The party in a franchise relationship that pays for the right to use resources supplied by
another business entity is known as the - Answers - franchisee
