The simplest form of business owned and operated by one person is called a(n)

The simplest form of business owned and operated by one person is called a(n)

A) franchise.

B) partnership.

C) S-corporation.

D) sole proprietorship.

E) syndicate.

2.

The company you work for recently has committed itself to implementing a program of social responsibility. After the company has gotten the commitment of top executives, planned the program, and appointed a program director, you suggest that a(n) ____ be prepared periodically to evaluate the success of the program.

A) social actions report

B) ethics evaluation

C) social audit

D) departmental memorandum

E) research report

3.

The leadership style advocating that a leader makes all decisions and tells subordinates what to do and how to do it is called

A) exbusiness 101stential.

B) democratic.

C) participative.

D) autocratic.

E) consensus.

4.

An informal organization can be shown on a formal organization chart.

A) True

B) False

5.

All of the following are disadvantages of corporations except

A) perpetual life.

B) double taxation.

C) lack of secrecy.

D) expensive formation.

E) heavy government regulation.

6.

If a new company desires to departmentalize in a way that will simplify supervision and facilitate coordination, it will most likely departmentalize by

A) product.

B) worker skill level.

C) function.

D) customer.

E) location.

7.

An organization in which management consciously attempts to spread authority to the lower organizational levels is said to be centralized.

A) True

B) False

8.

The assignment of part of a manager’s work and authority to a worker is called

A) accountability.

B) responsibility.

C) authorization.

D) delegation.

E) relegation.

9.

What is probably the most effective way for a company to encourage ethical behavior?

A) Have ethics training sessions for interested employees.

B) Develop and enforce a written code of ethics for the organization.

C) Hire employees who are ethical and in agreement with the company’s views.

D) Post signs discouraging sexual harassment and discrimination.

E) Threaten employees with immediate termination for unethical behavior.

10.

A hostile takeover is a situation in which

A) the management and board of directors of the targeted firm disapprove of the proposed merger.

B) stockholders are paid a golden parachute.

C) the government makes the decision that the corporate raider can purchase the targeted firm.

D) the corporate raider receives a sum of money to leave the targeted firm alone.

E) the targeted firm is dismantled to avoid the merger.