Your friend tells you he is working on setting up a business. He tells you he has a business partner who shares in all decision making, it has been fairly easy to set up, he will only be taxed once on company profits, and he has limited liability for the company. What kind of business has your friend most likely described?
(A) General partnership
(B) Service cooperative
(C) Limited liability partnership
(D) Limited partnership
Answer: (C) Limited liability partnership
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In the federal courts, the bailiff may be a deputy U.S. marshal
a. True b. False
It is important for the firm to structure its revenue management program in a way that
A) it is presented simply as a mechanism for extracting maximum revenue. B) revenue increases while improving service along some dimension that is important to customers that pay the highest price. C) profit is maximized. D) all of the above
In the context of small businesses, ________ is the use of communication media and scanners to work from an office, home, or any location.
A. prospecting B. merchandising C. freestanding D. telecommuting
An advertising campaign:
A. may contain a wide variety of themes and slogans B. extends for a defined period of time C. continues for the life of the product D. starts with determining which media will be used E. rarely has a specific budget