Bus 100 Final Exam Review Updated Actual Questions And Correct Answers

BUS 100 FINAL EXAM REVIEW UPDATED ACTUAL
QUESTIONS AND CORRECT ANSWERS

Question:
1. 5 Components of Management Planning

Answer:
Planning
Organizing
Staffing
Directing
Controlling

Question:
2. Planning

Answer:
Determining an organization objectives & how to accomplish them

Question:
3. Types of Planning

Answer:
Strategic: long-term, senior management
Tactical: Short range, implanting activities in strategic plan
Operational: Short-term first line supervisors

Question:
4. Organizing

Answer:
Structuring resources & activities to accomplish objectives

Question:
5. Selecting & training employees to meet organizational objectives

Answer:
Staffing

Question:
6. Directing

Answer:
Motivating & leading employees to meet organizational objectives

, Question:
7. Controlling

Answer:
Evaluating & correcting activities to keep organization on course

Question:
8. 3 Ways Businesses can be formed

Answer:
Sole Proprietorships
Partnerships
Corporations

Question:
9. Sole Proprietorships

Answer:
Businesses owned and operated by one individual; the most common form of
business organization in the United States

Question:
10. Advantage of Sole Proprietorship

Answer:
East of Cost of Formation

Question:
11. Disadvantage of Sole Proprietorship

Answer:
Lack of qualified employees

Question:
12. Partnerships

Answer:
A partnership that involves a complete sharing in both the management and the
liability of the business

Question:
13. Advantage of Partnership

Answer:
Ease of Organization