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NOCTI Study Guide Practice Questions with
100% Verified Answers 2026
If a business conducts SWOT analysis to decide whether or not
to expand, which of the following would be categorized as an
''O''?
A. money is available for the expansion
B. there is the potential for increased profits
C. new competition could enter the market
D. company expenses have increased - ANSWER B. there is the
potential for increased profits
B is correct because a SWOT analysis is a planning tool used to
determine or evaluate an organization's strengths, weaknesses,
opportunities, and threats as related to a project or decision. An
opportunity refers to an external condition or possibility that
may benefit a company if it pursues the action or decision. A
potential for increased profits is an example of an opportunity.
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The North American Free Trade Agreement (NAFTA) created a
free-trade area for:
A. Mexico, the U.S., and Canada
B. Mexico and Canada
C. Mexico and Panama
D. Mexico, Guatemala, and Belize - ANSWER A. Mexico, the U.S.,
and Canada
A is correct because the North American Free Trade Agreement
(NAFTA) created a freetrade area for Mexico, the United States,
and Canada.
Two types of business partnerships are general and:
A. contractual
B. fiduciary
C. limited
D. cooperative - ANSWER C. limited
C is correct because the two types of business partnerships are
general and limited. A general partnership is a business that is
made up of two or more individuals where each partner
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contributes money, property, labor, or special skills and each
partner shares in the business's profits or losses. A limited
partnership resembles a general partnership but the limited
partner is not liable for the partnership's debts other than the
funds that were contributed to the partnership. The limited
partner will not normally participate in the activities of the
partnership.
The planning, pricing, promoting, and distribution of goods and
services is known as:
A. advertising
B. marketing
C. logistics
D. forecasting - ANSWER B. marketing
B is correct because marketing involves the planning, pricing,
promoting, and distribution of goods and services.
The main purpose of an effective performance evaluation is to:
A. help companies determine who to fire when times get hard
NOCTI Study Guide Practice Questions with
100% Verified Answers 2026
If a business conducts SWOT analysis to decide whether or not
to expand, which of the following would be categorized as an
''O''?
A. money is available for the expansion
B. there is the potential for increased profits
C. new competition could enter the market
D. company expenses have increased - ANSWER B. there is the
potential for increased profits
B is correct because a SWOT analysis is a planning tool used to
determine or evaluate an organization's strengths, weaknesses,
opportunities, and threats as related to a project or decision. An
opportunity refers to an external condition or possibility that
may benefit a company if it pursues the action or decision. A
potential for increased profits is an example of an opportunity.
,2|Page
The North American Free Trade Agreement (NAFTA) created a
free-trade area for:
A. Mexico, the U.S., and Canada
B. Mexico and Canada
C. Mexico and Panama
D. Mexico, Guatemala, and Belize - ANSWER A. Mexico, the U.S.,
and Canada
A is correct because the North American Free Trade Agreement
(NAFTA) created a freetrade area for Mexico, the United States,
and Canada.
Two types of business partnerships are general and:
A. contractual
B. fiduciary
C. limited
D. cooperative - ANSWER C. limited
C is correct because the two types of business partnerships are
general and limited. A general partnership is a business that is
made up of two or more individuals where each partner
, 3|Page
contributes money, property, labor, or special skills and each
partner shares in the business's profits or losses. A limited
partnership resembles a general partnership but the limited
partner is not liable for the partnership's debts other than the
funds that were contributed to the partnership. The limited
partner will not normally participate in the activities of the
partnership.
The planning, pricing, promoting, and distribution of goods and
services is known as:
A. advertising
B. marketing
C. logistics
D. forecasting - ANSWER B. marketing
B is correct because marketing involves the planning, pricing,
promoting, and distribution of goods and services.
The main purpose of an effective performance evaluation is to:
A. help companies determine who to fire when times get hard
