Deca Entrepreneurship Exam Questions And
Answers.
Sovereign Community - Correct Answer - A legal concept stating that the courts in a
country represent the country's laws, and their decisions cannot be reversed by the
decision of courts in other countries.
Legal concept that affects foreign countries
Eminent Domain - Correct Answer - the right of a government or its agent to take away
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 - An organization or individual has an obligation
to act for the benefit of society at large.
Infringement - Correct Answer - The action of breaking the terms of a law, agreement,
etc.
Defamation - Correct Answer - A statement that injures a third party's reputation.
National Labor Relations Act - Correct Answer - to protect the rights of employees and
employers, to encourage collective bargaining, and to lessen certain private sector labor
and management practices
Vocational Rehabilitation Act - Correct Answer - Was put in place to correct the
problem of discrimination against people with disabilities in the United States.
Fair Labour Standards Act - Correct Answer - A law that creates the right to a minimum
wage, and "time-and-a-half" overtime pay when people work over forty hours a week.
Americans with Disabilities Act - Correct Answer - A civil rights law that prohibits
discrimination based on disability.
, Does not allow employers to ask employees about potential medical history.
Consolidation - Correct Answer - joining of two or more companies to form a new
company
General Partnership - Correct Answer - designed to combine capital, experience,
and the abilities of two or more people
Limited Partnership - Correct Answer - permits a partner to invest in a business but
have limited
liability and responsibility
Open Corporation - Correct Answer - sells millions of shares of stock to many
stockholders
Intermediaries - Correct Answer - Put buyers and sellers together without taking
ownership of the product, service or property. They act as go-betweens.
Wholesalers - Correct Answer - an intermediary who helps to move goods between
producers and retailers by buying goods from producers and selling them to retailers
Industrial user - Correct Answer - A business that buys materials, services, or goods
which it will use to make other goods
indirect agent - Correct Answer - intermediaries who assist in the sale and/or promotion
of goods and services but do not take title to them
acquisition - Correct Answer - Taking ownership of another business. Frequently used
in conjunction with the word merger, as in mergers and acquisitions or M&As.
Strategic planning - Correct Answer - is long-range planning (three to five years)
for the company as a whole
Tactical planning - Correct Answer - is short-range planning (one year)
of specific actions the business will take
. Systematic planning - Correct Answer - involves using a set of procedures to plan
activities
Environmental planning - Correct Answer - focuses on establishing goals and activities
that affect the natural environment.
Answers.
Sovereign Community - Correct Answer - A legal concept stating that the courts in a
country represent the country's laws, and their decisions cannot be reversed by the
decision of courts in other countries.
Legal concept that affects foreign countries
Eminent Domain - Correct Answer - the right of a government or its agent to take away
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 - An organization or individual has an obligation
to act for the benefit of society at large.
Infringement - Correct Answer - The action of breaking the terms of a law, agreement,
etc.
Defamation - Correct Answer - A statement that injures a third party's reputation.
National Labor Relations Act - Correct Answer - to protect the rights of employees and
employers, to encourage collective bargaining, and to lessen certain private sector labor
and management practices
Vocational Rehabilitation Act - Correct Answer - Was put in place to correct the
problem of discrimination against people with disabilities in the United States.
Fair Labour Standards Act - Correct Answer - A law that creates the right to a minimum
wage, and "time-and-a-half" overtime pay when people work over forty hours a week.
Americans with Disabilities Act - Correct Answer - A civil rights law that prohibits
discrimination based on disability.
, Does not allow employers to ask employees about potential medical history.
Consolidation - Correct Answer - joining of two or more companies to form a new
company
General Partnership - Correct Answer - designed to combine capital, experience,
and the abilities of two or more people
Limited Partnership - Correct Answer - permits a partner to invest in a business but
have limited
liability and responsibility
Open Corporation - Correct Answer - sells millions of shares of stock to many
stockholders
Intermediaries - Correct Answer - Put buyers and sellers together without taking
ownership of the product, service or property. They act as go-betweens.
Wholesalers - Correct Answer - an intermediary who helps to move goods between
producers and retailers by buying goods from producers and selling them to retailers
Industrial user - Correct Answer - A business that buys materials, services, or goods
which it will use to make other goods
indirect agent - Correct Answer - intermediaries who assist in the sale and/or promotion
of goods and services but do not take title to them
acquisition - Correct Answer - Taking ownership of another business. Frequently used
in conjunction with the word merger, as in mergers and acquisitions or M&As.
Strategic planning - Correct Answer - is long-range planning (three to five years)
for the company as a whole
Tactical planning - Correct Answer - is short-range planning (one year)
of specific actions the business will take
. Systematic planning - Correct Answer - involves using a set of procedures to plan
activities
Environmental planning - Correct Answer - focuses on establishing goals and activities
that affect the natural environment.
