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BUSA Midterm 2- Questions and Answers
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BUSA Midterm 2- Questions and Answers
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BUSA Midterm 2- Questions and AnswersThe challenges to keeping inventory levels low include Correct Ans-All of the above: The cost
of frequent ordering, the loss of quantity discounts, and the customer goodwill or plant
efficiency due to items being unavailable when needed.
Which of the following is not one of the 5 mL of credit? Correct Ans-Customers
Which of the following is not a factor that influences the interest borrowers pay? Correct
Ans-The repayment loan
What concept requires that employee does not knowingly take action designed to harm the
employers business? Correct Ans-Duty of loyalty
True of false:
Trademarks can differentiate a business's products and services from those of other businesses.
Correct Ans-True
True of false:
The owner of the patent has the right to exclude others from making, using, selling, offering for
sale or importing the patent invention during the term of the patent. Correct Ans-True
, Which one of the following is within the range of intellectual property protection? Correct
Ans-All of the above: copy rights, patents, in trade secrets.
True of false:
An entrepreneur operating as a sole proprietor has only limited liability. Correct Ans-False
True or false:
If a business is not able to pay his debts, under a general partnership, the debt is transferred to
the owners. Correct Ans-True
As S corporation can be distinguished from other types of corporations in Correct Ans-Tax
status
Which of the following might result in creditors being able to "pierce the corporate veil"?
Correct Ans-All of the above: personal and corporate assets were commingled, company was
initially underfunded, and failure to use Inc., Corp., LLC or similar legal indicator when dealing
with third parties.
True of false:
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