GENERAL MANAGEMENT NOCTI EXAM
QUESTIONS WITH CORRECT ANSWERS RATED
A+ LATEST 2025
SWOT - CORRECT ANSWERSStrength ,Weaknesses ,Opportunity's ,Threats
Potential for Increased profits - CORRECT ANSWERSOpportunity
Money Available for plan expansion - CORRECT ANSWERSStrength
New completion entering the market - CORRECT ANSWERSThreat
Company expenses are increasing - CORRECT ANSWERSWeakness
NAFTA - CORRECT ANSWERSNorth American Free Trade Agreement
Mexico, U.S, Canada - CORRECT ANSWERSCountries covered by the NAFTA
Depreciation - CORRECT ANSWERSThe decrease in value over time for a fixed asset.
Interest - CORRECT ANSWERSA charged made by a lender for the use of money.
Variable Cost - CORRECT ANSWERSCost that change directly with the level of production.
Fixed Cost - CORRECT ANSWERSCost that do not change with a different volumes of business
, General and Limited - CORRECT ANSWERStwo types of business partnerships
General Partnership - CORRECT ANSWERSPartners SHARE expenses, profits and losses.
Limited Partnerships - CORRECT ANSWERSWhen the limited partner is not liable for debts other
than work they contribute to.
Contractual Partnership - CORRECT ANSWERSis developed based on a contract and doesn't have
to apply to a business.
Fiduciary - CORRECT ANSWERSPerson that has property or power for the benefit of another.
Cooperative - CORRECT ANSWERSIs own and operated by a group of individuals for their mutual
benefit. Often called Co-Ops
Effective Performance Evaluation - CORRECT ANSWERSHelps workers develop their strengths
and work on their weaknesses.
Mission Statement - CORRECT ANSWERSStates the company's purpose and goals.
Market Analysis - CORRECT ANSWERSResearching to determine factors,conditions, and
characteristics of a market.
Brainstorming - CORRECT ANSWERSA technique for solving specific problems using creative
thinking and spontaneous discussion.
Goal Setting - CORRECT ANSWERSEstablishing short and long term objectives.
QUESTIONS WITH CORRECT ANSWERS RATED
A+ LATEST 2025
SWOT - CORRECT ANSWERSStrength ,Weaknesses ,Opportunity's ,Threats
Potential for Increased profits - CORRECT ANSWERSOpportunity
Money Available for plan expansion - CORRECT ANSWERSStrength
New completion entering the market - CORRECT ANSWERSThreat
Company expenses are increasing - CORRECT ANSWERSWeakness
NAFTA - CORRECT ANSWERSNorth American Free Trade Agreement
Mexico, U.S, Canada - CORRECT ANSWERSCountries covered by the NAFTA
Depreciation - CORRECT ANSWERSThe decrease in value over time for a fixed asset.
Interest - CORRECT ANSWERSA charged made by a lender for the use of money.
Variable Cost - CORRECT ANSWERSCost that change directly with the level of production.
Fixed Cost - CORRECT ANSWERSCost that do not change with a different volumes of business
, General and Limited - CORRECT ANSWERStwo types of business partnerships
General Partnership - CORRECT ANSWERSPartners SHARE expenses, profits and losses.
Limited Partnerships - CORRECT ANSWERSWhen the limited partner is not liable for debts other
than work they contribute to.
Contractual Partnership - CORRECT ANSWERSis developed based on a contract and doesn't have
to apply to a business.
Fiduciary - CORRECT ANSWERSPerson that has property or power for the benefit of another.
Cooperative - CORRECT ANSWERSIs own and operated by a group of individuals for their mutual
benefit. Often called Co-Ops
Effective Performance Evaluation - CORRECT ANSWERSHelps workers develop their strengths
and work on their weaknesses.
Mission Statement - CORRECT ANSWERSStates the company's purpose and goals.
Market Analysis - CORRECT ANSWERSResearching to determine factors,conditions, and
characteristics of a market.
Brainstorming - CORRECT ANSWERSA technique for solving specific problems using creative
thinking and spontaneous discussion.
Goal Setting - CORRECT ANSWERSEstablishing short and long term objectives.
