In a limited partnership, the limited partners manage the business.
Coinsurance exempts policyholders from paying the insurance premium.
Job enrichment emphasizes giving employees greater responsibility and authority over
their jobs as the best way to motivate them.
Employee performance evaluations can be used to motivate employees if the
evaluations are translated into rewards.
Employees who are good performers at nonmanagerial levels usually make good
managers.
The industry group with the largest volume of sales in a business format franchising is
automobile and truck dealerships.
Linda, a customer service agent at Dowling Manufacturers Inc., was moved from the
home appliances department to the fashion apparel department. Her job title and pay
remained the same. This is an example of transferring.
Which of the following is an advantage of cross-training?
a) It helps employees specialize in their area of work.
b) It blends the learning of theory with practice in the techniques of the job.
c) It is most effective for young people who cannot finish a high school program.
d) It keeps workers more interested in their jobs.
Which of the following refers to a small battery-powered package that can be used
anywhere?
a) A laptop computer
b) A desktop computer
c) A server
d) A mainframe computer
____ goods are high-priced goods that require capable salespeople with selling ability
because customers spend much time talking to sales personnel about them.
a) Convenience
b) Shopping
c) Specialty
d) Seasonal
Which of the following training methods do companies use to make their employees
more versatile during shortage of skilled job applicants?
a) Apprenticeship training
b) Internship training
c) Co-op program
d) Cross-training
Conflicts are likely to arise in a small family-owned business when:
a) each family member has a different perspective, leading to dissension.
b) a family member is clearly in command, at least in a given area of management.
c) the role of each family member is distinct, based on sound business practices.
d) family members agree to disagree and set ground rules.
_____ is using employees to do the work they are best suited for.
a) Delegation
b) Specialization
c) Span of management
d) Job rotation
_____ refers to using various methods to reduce the possibility of a loss occurring.
a) Risk avoidance
b) Risk prevention
c) Risk transfer
d) Risk assumption
_____ refer(s) to family-owned businesses run by husband-and-wife teams.
a) Angel investors
b) Intrapreneurs
c) Copreneurs
d) Strategic alliances
Which of the following disabilities is covered under the Americans with Disabilities
Act?
a) Kleptomania
b) Sexual behavior disorders
c) Chemical dependency
d) Gambling
Which of the following factors should be considered when choosing the proper legal
form for a business?
a) Packaging of the product
b) Location of the factory
c) Earnings reinvestment
d) Name of the product
Which of the following is an example of a specialty good?
a) Milk
b) Precious jewelry
c) Detergent
d) Cigarette
Why are shopping centers so popular?
Mention the features of a small business to be classified as ‘small.”
What are the different purposes for which information is used?
Compare a partnership with a proprietorship.
In the context of small businesses, list the steps in profit planning for small businesses.
What is meant by enlightened employee relations?
Write a short note on owners’ equity.