DECA Entrepreneurship Multiple Choice
questions well answered to pass
sovereign immunity - correct answer ✔✔the sovereign or state cannot commit a
legal wrong and is immune from civil suit or criminal prosecution
eminent domain - correct answer ✔✔The right of a government or its agent to
expropriate private property for public use, with payment of compensation
absolute privilege - correct answer ✔✔an absolute defense to an otherwise
defamatory statement because of the venue or context in which the statement
was made
social responsibility - correct answer ✔✔is an ethical framework and suggests
that an entity, be it an organization or individual, has an obligation to act for the
benefit of society at large. (ex. environmentally friendly)
defamation - correct answer ✔✔A statement that injures a third party's statement
infringement - correct answer ✔✔the action of breaking the terms of a law,
agreement, etc.; violation. (An example of copyright this is distributing music that
was made by a different artist)
consideration in contracts - correct answer ✔✔the exchange of anything of value
by each party (ex. selling an item or purchasing a service)
, National Labour relations act - correct answer ✔✔protect the rights of employees
and employers, to encourage collective bargaining, and to curtail certain private
sector labor and management practices, which can harm the general welfare of
workers, businesses and the U.S. economy
Vocational Rehabilitation Act - correct answer ✔✔Was put in place to prevent the
discrimination on the basis of disability
Fair Labor Standards Act - correct answer ✔✔establishes a minimum wage,
overtime pay, recordkeeping, and youth employment standards affecting
employees in the private sector and in Federal, State, and local governments
Americans with Disabilities Act - correct answer ✔✔prohibits discrimination
against people with disabilities
consolidation - correct answer ✔✔the joining of two or more companies to start a
new one
general partnership - correct answer ✔✔is an arrangement by which partners
conducting a business jointly have unlimited liability, which means their personal
assets are liable to the partnership's obligations
limited partnership - correct answer ✔✔exists when two or more partners unite
to jointly conduct a business in which one or more of the partners is liable only to
the extent of the amount of money that partner has invested. At least one
partner, the general partner, has unlimited liability
open corporation - correct answer ✔✔Firm whose shares are publicly traded, and
are not monopolized by a small group of investors.
questions well answered to pass
sovereign immunity - correct answer ✔✔the sovereign or state cannot commit a
legal wrong and is immune from civil suit or criminal prosecution
eminent domain - correct answer ✔✔The right of a government or its agent to
expropriate private property for public use, with payment of compensation
absolute privilege - correct answer ✔✔an absolute defense to an otherwise
defamatory statement because of the venue or context in which the statement
was made
social responsibility - correct answer ✔✔is an ethical framework and suggests
that an entity, be it an organization or individual, has an obligation to act for the
benefit of society at large. (ex. environmentally friendly)
defamation - correct answer ✔✔A statement that injures a third party's statement
infringement - correct answer ✔✔the action of breaking the terms of a law,
agreement, etc.; violation. (An example of copyright this is distributing music that
was made by a different artist)
consideration in contracts - correct answer ✔✔the exchange of anything of value
by each party (ex. selling an item or purchasing a service)
, National Labour relations act - correct answer ✔✔protect the rights of employees
and employers, to encourage collective bargaining, and to curtail certain private
sector labor and management practices, which can harm the general welfare of
workers, businesses and the U.S. economy
Vocational Rehabilitation Act - correct answer ✔✔Was put in place to prevent the
discrimination on the basis of disability
Fair Labor Standards Act - correct answer ✔✔establishes a minimum wage,
overtime pay, recordkeeping, and youth employment standards affecting
employees in the private sector and in Federal, State, and local governments
Americans with Disabilities Act - correct answer ✔✔prohibits discrimination
against people with disabilities
consolidation - correct answer ✔✔the joining of two or more companies to start a
new one
general partnership - correct answer ✔✔is an arrangement by which partners
conducting a business jointly have unlimited liability, which means their personal
assets are liable to the partnership's obligations
limited partnership - correct answer ✔✔exists when two or more partners unite
to jointly conduct a business in which one or more of the partners is liable only to
the extent of the amount of money that partner has invested. At least one
partner, the general partner, has unlimited liability
open corporation - correct answer ✔✔Firm whose shares are publicly traded, and
are not monopolized by a small group of investors.
