Advantages of a limited liability corporation

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Reference no: EM13900813

Question 8.8. (TCO 3) Advantages of a Limited Liability Corporation (LLC) include all of the following EXCEPT

unrestricted member participation in management.

pass-through taxation benefits of a partnership.

advantages of limited liability.

limited number of shareholders.

Question 9.9. (TCO 2) It can be difficult to balance ethics and other goals, such as pleasing stakeholders or advancing your career. According to management writer Ken Blanchard and religious leader Norman Vincent Peale, it helps to ask oneself which one of the following questions when facing an ethical dilemma?

How will this course of action be evaluated by others?

Is my proposed action legally defensible?

Is this course of action based on principle?

Is this course of action based on the truth?

How will this course of action make me feel about myself?

Question 10.10. (TCO 3) What is a key feature of intrapreneurship?

It encourages sticking with the accepted wisdom.

It is often found in companies that are rigid and structured.

Steps are never needed to encourage, protect, and reward intrepreneurship.

It can be risky behavior that may not be rewarded.

Question 11.11. (TCO 4) Consumers have needs for living and wants, which are desires and to know them helps businesses to meet market demands. From the following list, identify which combination is just needs, or just wants.

Food and Big Mac

Motorcycle and car

Shelter and condo

Water and Coca-Cola

Question 12.12. (TCO 4) The rapid spread of brand communities has been one of the major impacts of social media. The Harley Davidson Owners Group is one example of an informal network of people with similar interests who use social media to bond and share information. Why are these brand communities effective?

The cost of consumer-oriented publications is too expensive.

Consumers now trust their peers more than any source for product information.

Consumers no longer trust salespeople.

State and local consumer protection agencies no longer review products.

Question 13.13. (TCO 4) Successfully distributing goods to customers involves low cost and customer satisfaction. Several steps must take place in order to reach this goal. Which step need NOT be considered in the physical distribution of goods?

Order processing

Market segmentation

Inventory control

Transportation

Question 14.14. (TCO 5) Managers of employees from different cultural and geographic backgrounds have unique opportunities to reach out to new markets and understand ways to extend their products to new markets. A better understanding of other cultures' customs and concerns helps managers' to increase customer satisfaction and customer loyalty. Part of cultural competency is not only understanding different languages, but also understanding:

Similar food selections

Looking others in the eye when speaking to them

How much money people make

How tall people are when compared to others

How people wish to be addressed

Question 15.15. (TCO 6) Production and operations management is best described by which of the following?

Overseeing all of the activities involved in producing goods and services

Designing machines to do multiple tasks

Tailoring products to meet the needs of a large number of customers

Using technology and robotic units to assist with plant operations

Short production runs and the machines being adjusted frequently

Question 16.16. (TCO 7) Financial accounting includes which one of the following?

The preparation and distribution of an a periodic report

A summarization of the costs of production

The preparation of departmental budgets

Compliance with the Financial Accounting Standards Board (FASB) guidelines

Reviewing and evaluating the information used to prepare a company's financial statements

Question 17.17. (TCO 7) _____ is a financial management function and a part of financial planning.

Understanding and allocating operational needs

Disestablishing a capital budget

Creating a long-term forecast

Establishing a strategic planning vision

Creating a short-term shipping forecast

Reference no: EM13900813

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