UTAH Business Management State Review Practice Test.
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Course
UTAH.
Institution
UTAH.
UTAH Business Management State Review Practice Test.
Four parts of management proccess - CORRECT ANSWER Planning, Organizing, Leading, Controlling
Define SWOT - CORRECT ANSWER Strength, weakness, opportunities, threats
What are the two types of goals - CORRECT ANSWER Strategic and Ope...
What are the two types of goals - CORRECT ANSWER Strategic and Operational
Strategic goals - CORRECT ANSWER Long term goals for the company
Operational goals - CORRECT ANSWER Short term goals for the company
Types of ownership forms - CORRECT ANSWER Proprietorship, partnership,
corporation, scorp, ccorp, and llc
Proprietorship - CORRECT ANSWER Individually owned, major tax benefits, lots of risk
Partnership - CORRECT ANSWER Owned by two or more people, tax benefits, risky
Corporation - CORRECT ANSWER Enterprise owned by shareholders, limited
personal exposure, government regulations
LLC, SCORP CCORP - CORRECT ANSWER To create limited risk, and more tax
benefits for corporations
Line - CORRECT ANSWER Top-down management structure
Line and staff - CORRECT ANSWER Is line but with added on groups of staff
Matrix - CORRECT ANSWER Temporary work teams
Teams - CORRECT ANSWER Permanent work teams
Centralized - CORRECT ANSWER Few key managers
Decentralized - CORRECT ANSWER Managers have control over a unit
Flattened - CORRECT ANSWER Fewer levels of up and down management
Autocratic leadership - CORRECT ANSWER Leader makes all decisions
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