Business Management Certification Exam
Questions with Complete Solutions
Which financial statement reflects the value of assets, liabilities, and equity of a business on a
particular date? Balance sheet
What principle is business following when it seeks to become a positive stakeholder in the
community? Ethics and social responsibility
Which management structure leaves decision-making authority with upper-level managers?
Centralized decision making
Which term is used when a company assesses its strengths and weaknesses? SWOT
analysis: Strengths Weaknesses Opportunities Threats
Which term is used for investors who specialize in funding small firms that offer potential for
rapid growth? Venture capitalists
, What happens when any stockholder of a corporation dies? The life of the corporation is
not affected.
Which TWO statements about organizational structures/charts are true? Line managers are
supervisors over other employees in the organizational chart.
Authority originates at the top and moves downward.
Which type of ownership provides managerial assistance from corporate headquarters?
Franchise
Which management function includes evaluating the company's performance to determine
whether it is accomplishing its objectives? Planning
Which term refers to compensation in addition to salaries and wages? Benefits
What government agency lends money to small businesses that are unable to obtain a loan from
at least two banks? Small Business Administration (SBA)
Questions with Complete Solutions
Which financial statement reflects the value of assets, liabilities, and equity of a business on a
particular date? Balance sheet
What principle is business following when it seeks to become a positive stakeholder in the
community? Ethics and social responsibility
Which management structure leaves decision-making authority with upper-level managers?
Centralized decision making
Which term is used when a company assesses its strengths and weaknesses? SWOT
analysis: Strengths Weaknesses Opportunities Threats
Which term is used for investors who specialize in funding small firms that offer potential for
rapid growth? Venture capitalists
, What happens when any stockholder of a corporation dies? The life of the corporation is
not affected.
Which TWO statements about organizational structures/charts are true? Line managers are
supervisors over other employees in the organizational chart.
Authority originates at the top and moves downward.
Which type of ownership provides managerial assistance from corporate headquarters?
Franchise
Which management function includes evaluating the company's performance to determine
whether it is accomplishing its objectives? Planning
Which term refers to compensation in addition to salaries and wages? Benefits
What government agency lends money to small businesses that are unable to obtain a loan from
at least two banks? Small Business Administration (SBA)
