NOCTI STUDY GUIDE PRACTICE QUESTIONS AND
ANSWERS | 2026 NEW UPDATE | 100% CORRECT!!
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.
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 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:
ANSWERS | 2026 NEW UPDATE | 100% CORRECT!!
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.
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 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:
