Busi 439 Final Updated Actual Questions And Correct Answers

BUSI 439 FINAL UPDATED ACTUAL QUESTIONS AND
CORRECT ANSWERS

Question:
1. A Board of ___________ may be helpful but is not required for a business; however, in some cases, a
Board of ___________ may be legally required.
Answer:
Advisors; Directors

Question:
2. A _________ owner is not typically involved in the day-to-day operations of a business, while a
____________ owner is actively involved in the day-to-day operations.
Answer:
Passive; Active

Question:
3. For which of the following tasks would you most likely need to hire a law firm?
Assessing Customer Demographics Customer Background Checks Drawing Up Hiring Documents
Business Location Selection Personal Skill Assessment
Answer:
Drawing Up Hiring Documents

Question:
4. Given a limited quantity of staff, small businesses often require employees that are more:
Trained in Niche Skills Flexible and Willing to Learn Hourly and not Salaried Salaried and not Hourly
Part-Time and not Full-Time
Answer:
Flexible and Willing to Learn

Question:
5. Hire a consultant to review your business plan to avoid which of the following:
Confirmation Bias Silo Mentality Proprietary Disclosures Contingency Plans Management Agreements
Answer:
Confirmation Bias

Question:
6. Ms. Studebaker finds herself lacking _______________ skills, therefore she will hire a manger to
oversee the employees at her store.
Answer:
Managerial

, Question:
7. Ms. Studebaker hired additional baking staff, and she does not want them to tell others about her secret
recipe. She should have them sign a:
Wage/Benefit Statement Non-Disclosure Agreement Proprietary Agreement Non-Compete Clause Third
Party Contract
Answer:
Non-Disclosure Agreement

Question:
8. Ms. Studebaker plans to retire and move to Florida. Before doing so, she must develop which of the
following to pass on her business?
Partnership Agreement Non-Disclosure Agreement Succession Plan Proprietary Contract Managerial Plan
Answer:
Succession Plan

Question:
9. Ms. Studebaker wants her employees to be grouped based on the tasks that they perform. She would
select which type of organizational structure?
Flat Divisional Self-Managed Matric Functional
Answer:
Functional

Question:
10. Ms. Studebaker wants her employees to have autonomy and a sense of equality. She should select
which type of organizational structure?
Flat Divisional Self-Managed Matrix Functional
Answer:
Self-Managed

Question:
11. Ms. Studebaker wants to define the financial relationship with her business partner, she should have
which of following documents drawn up?
A. Management Plan Self-Managed Organizational Structure Non-Disclosure Agreement Proprietary Clause
B. Partnership Agreement
Answer:
Partnership Agreement

Question:
12. Which of the following is a reason that you may need to hire additional team members?
To Gain Specialized Knowledge To Comply with Local Ordinances To Receive Tax Incentives To Gain
More Customers As a Contingency Plan
Answer:
To Gain Specialized Knowledge

, Question:
13. Which of the following involves a breakdown in collaboration and communication?
Outsourcing Bad Organizational Structure Non-Disclosure Agreements Silo Mentality Proprietary
Disclosures
Answer:
Silo Mentality

Question:
14. Which of the following is not a factor for choosing an organizational structure?
Communication Efficiency Documentation Company Culture Collaboration
Answer:
Documentation

Question:
15. Which of the following causes people to prefer information and opinions that match what they already
believe?
Management Bias Confirmation Bias Second-Hand Bias Silo Mentality Self-Management Errors
Answer:
Confirmation Bias

Question:
16. Which of the following is your primary task when assessing your management plan?
Assuring Smooth Management Structure Refining Your Contingency Plan Understanding Your Skills and
Skill Gaps Identifying Applicable Insurance Needs Assessing Customer Demographics
Answer:
Understanding Your Skills and Skill Gaps

Question:
17. Which of the following is not one of the typical skills you need to assess when defining your
management plan?
Technical Skills Managerial Skills Entrepreneurial Skills Outsourcing Skills Personal Maturity Skills
Answer:
Outsourcing Skills

Question:
18. Which of the following entails that you hire a professional, rather than an employee, to complete a
specialized task?
Sidesource Insource Outsource Hire Additional Staff Contract Third Party Logistics
Answer:
Outsource

Question:
19. Which of the following is not a standard component for the pay of employees?
A. Hourly Wage/Salary Medicare Payments Social Security Payments Worker's Compensation Insurance
B. Parking Fees
Answer:
Parking Fees