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DECA Practice Tests Exam Questions Multiple Choice with Complete Solutions

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DECA Practice Tests Exam Questions Multiple Choice with Complete Solutions What do business owners consider when they select a business ownership structure? a. Product versatility, financial needs, and advertising strategies b. Personal circumstances, financial needs, and the type of business c. Product versatility, advertising strategies, and personal circumstances d. Personal circumstances, type of business, and product mix - B One business promising to do something for another busines...

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Deca Practice Test Exam Questions and Answers 100% Solved | Rated A+

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Deca Practice Test Exam Questions and Answers 100% Solved | Rated A+ 1. Which type of business ownership would help a small business by taxing its owners as individuals? A. Subchapter "S" corporation B. Open corporation C. Franchise D. General partnership - A Subchapter "S" corporation. A subchapter "S", or "S," corporation is a statechartered corporation developed to help small businesses by saving them money on taxes if they meet certain conditions. It is lim...

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DECA Practice Exam Questions with 100% Correct Answers

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DECA Practice Exam Questions with 100% Correct Answers A developer proposed a technological improvement to a product you sell. In his proposal, he tells you this improvement betters the product because it makes it safer for the customer to use it. Because of this, customer injuries should decrease. He tells you the value added to the product because of this new technology is substantial. What question should you ask to further make sure this technological advancement makes your product b...

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DECA Marketing Cluster Exam Questions and Answers 100% Solved

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DECA Marketing Cluster Exam Questions and Answers 100% Solved Exclusive Distribution - Situation where suppliers and distributors enter into an exclusive agreement that only allows the named distributor to sell a specific product. Electronic Data Interchange (EDI) Systems - The electronic interchange of business information using a standardized format; a process which allows one company to send information to another company electronically rather than with paper. Trading Partners - Busi...

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DECA Finance Test Review Questions and Answers 100% Solved

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DECA Finance Test Review Questions and Answers 100% Solved Accountant - an individual who has had specialized training in accounting procedures Accounting - The process of keeping and interpreting financial records Accounting department - a special department responsible for the firm's accounting needs Accounting system - the methods and procedures used in handling a business's financial information Accounts receivable - Monies owed to a business by its customers Accrual account...

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DECA Finance Exam Questions and Answers 100% Solved

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DECA Finance Exam Questions and Answers 100% Solved debtor-creditor relationship - A debtor is someone who owes a financial obligation (a "debt") to another, known as the creditor. Interest must be charged. affinity fraud - - Affinity fraud refers to investment scams that prey upon members of identifiable groups, such as religious or ethnic communities, the elderly, or professional groups. - The fraudsters who promote affinity scams frequently are - or pretend to be - members of t...

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DECA Entrepreneurship Vocabulary Exam Questions with 100% Correct Answers

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DECA Entrepreneurship Vocabulary Exam Questions with 100% Correct Answers acquisition: - The purchase of a company by another, larger firm, which absorbs the smaller company into its operations. board of directors: - A group of individuals elected by a firm's shareholders and charged with overseeing, and taking legal responsibility for, the firm's actions. business plan: - Document in which the entrepreneur summarizes her or his business strategy for the proposed new venture and h...

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Deca Entrepreneurship Exam Questions and Answers 100% Solved

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Deca Entrepreneurship Exam Questions and Answers 100% Solved Sovereign Community - A legal concept stating that the courts in a country represent the country's laws, and their decisions cannot be reversed by the decision of courts in other countries. Legal concept that affects foreign countries Eminent Domain - the right of a government or its agent to take away private property for public use, with payment of compensation. Absolute privilege - An absolute defense to an otherwise defa...

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DECA Business Administration Core Exam Questions and Answers 100% Pass

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DECA Business Administration Core Exam Questions and Answers 100% Pass Franchise - a contractual agreement between a parent company and a franchisee to distribute goods and services Corporation - a form of business ownership that is owned by stockholders who have purchased units or shares of the company Elastic Demand - demand that changes according to changes in price Inelastic Demand - demand that is not affected by changes in price. Unitary Demand - when sales remain the same becau...

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Damage Appraisal License Test Exam Questions and Answers 100% Solved

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Damage Appraisal License Test Exam Questions and Answers 100% Solved Subrogation - One insurance company sues another to recover cost to repair insured's car Release - Two insurance companies agreed or insured agrees ACV - Actual Cash Value, cost new less depreciation Arbitration - Only way in insurance policy to dispute claim amount. Two appraisers agree or go to umpire LQK - Like, Kind, Quality Solenoid - Located between battery and starter motor Exhaust - Parts-CAT converter, muf...

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