Utah business management state test
review 2025 Questions and Answers
100% Pass
Four parts of management proccess - ✔✔Planning, Organizing, Leading, Controlling
Define SWOT - ✔✔Strength, weakness, opportunities, threats
What are the two types of goals - ✔✔Strategic and Operational
Strategic goals - ✔✔Long term goals for the company
Operational goals - ✔✔Short term goals for the company
Types of ownership forms - ✔✔Proprietorship, partnership, corporation, scorp,
ccorp, and llc
Proprietorship - ✔✔Individually owned, major tax benefits, lots of risk
Partnership - ✔✔Owned by two or more people, tax benefits, risky
Corporation - ✔✔Enterprise owned by shareholders, limited personal exposure,
government regulations
LLC, SCORP CCORP - ✔✔To create limited risk, and more tax benefits for
corporations
Line - ✔✔Top-down management structure
Line and staff - ✔✔Is line but with added on groups of staff
COPYRIGHT © 2025 BY SOPHIA BENNETT, ALL RIGHTS RESERVED 1
review 2025 Questions and Answers
100% Pass
Four parts of management proccess - ✔✔Planning, Organizing, Leading, Controlling
Define SWOT - ✔✔Strength, weakness, opportunities, threats
What are the two types of goals - ✔✔Strategic and Operational
Strategic goals - ✔✔Long term goals for the company
Operational goals - ✔✔Short term goals for the company
Types of ownership forms - ✔✔Proprietorship, partnership, corporation, scorp,
ccorp, and llc
Proprietorship - ✔✔Individually owned, major tax benefits, lots of risk
Partnership - ✔✔Owned by two or more people, tax benefits, risky
Corporation - ✔✔Enterprise owned by shareholders, limited personal exposure,
government regulations
LLC, SCORP CCORP - ✔✔To create limited risk, and more tax benefits for
corporations
Line - ✔✔Top-down management structure
Line and staff - ✔✔Is line but with added on groups of staff
COPYRIGHT © 2025 BY SOPHIA BENNETT, ALL RIGHTS RESERVED 1
