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Question 1

3 out of 3 points Doing business today without harming the ability of future generations to meet their needs is referred to as Answer Selected Answer: sustainability. Correct Answer: sustainability.

Question 2
0 out of 3 points Successful firms of today would Answer Selected Answer: Correct Answer: embrace change. avoid new opportunities if what they are currently doing works well.

Question 3
3 out of 3 points Business transactions that occur online are examples of Answer Selected Answer: e-commerce. Correct Answer: e-commerce.

Question 4
3 out of 3 points Which of the following is not considered a natural resource?

Answer Selected Answer: soybeans Correct Answer: soybeans

Question 5
3 out of 3 points _____ refers to the quality and quantity of products and goods available to a population at a given time. Answer Selected Answer: Standard of living Correct Answer: Standard of living

Question 6
3 out of 3 points ____ refers to differences in gender, age, religion, and nationality that affect the workforce. Answer Selected Answer: Diversity Correct Answer: Diversity

Question 7
3 out of 3 points The core goal of business is to generate long-term _____ by delivering _____ to their customers. Answer Selected Answer: profits; value

Correct Answer: profits; value

Question 8
3 out of 3 points The marketing era introduced Answer Selected Answer: the marketing concept. Correct Answer: the marketing concept.

Question 9
3 out of 3 points The stock market, housing foreclosures, and unemployment rates are all part of an organizationss ____ environment. Answer Selected Answer: economic Correct Answer: economic

Question 10
3 out of 3 points The evolution of business included the Answer Selected Answer: entrepreneurship era. Correct Answer: entrepreneurship era.

Question 11
3 out of 3 points

A corporation must register as a _____ in every state in which it operates other than its state of incorporation. Answer Selected Answer: foreign corporation Correct Answer: foreign corporation

Question 12
0 out of 3 points The majority of businesses today are formed as Answer Selected Answer: limited liability partnerships. Correct Answer: sole proprietorships.

Question 13
0 out of 3 points A _____ maintains limited liability but offers more flexibility in terms of tax treatment than other forms of business ownership. Answer Selected Answer: limited liability partnership Correct Answer: limited liability company

Question 14
3 out of 3 points A company must register as a foreign corporation if they Answer Selected Answer: plan on doing business in another state.

Correct Answer: plan on doing business in another state.

Question 15
3 out of 3 points In an acquisition, the firm being purchased is the _____ and the firm which is purchasing the other firm is the _____. Answer Selected Answer: target firm; acquiring firm Correct Answer: target firm; acquiring firm

Question 16
3 out of 3 points The party in a franchise relationship that pays for the right to use resources supplied by another business entity is known as the Answer Selected Answer: franchisee. Correct Answer: franchisee.

Question 17
3 out of 3 points A(n) _____ merger is the combination of two or more firms at different stages of production of a given product or service, so the firms have a buyer-seller relationship. Answer Selected Answer: vertical Correct Answer: vertical

Question 18

3 out of 3 points A key advantage of a corporation is that Answer Selected Answer: the owners maintain limited liability. Correct Answer: the owners maintain limited liability.

Question 19
3 out of 3 points In the United States, _____ are the dominant form of business ownership in terms of net income. Answer Selected Answer: corporations Correct Answer: corporations

Question 20
3 out of 3 points A _____ is a legal entity created by permission of a state or federal government. Answer Selected Answer: corporation Correct Answer: corporation