1. Which of the following is the way in which the goods or service will be produced?
A) Cost control B) Production layout C) Inventory management D) Quality management
2. The concept _________ reviews processes to eliminate waste, relies on teamwork, and involves all members of the organization in meeting customer needs.
A) Time management B) Balancing stakeholder C) Information sharing D) Total Quality Management
3. Which of the following activities makes sure that the products or services are available at times of peak customer demand?
A) Operations B) Capacity C) Production D) Scheduling
4. Which of the following business structure is owned by two or more people who share final authority for all business decisions?
A) Partnership B) Sole proprietorship C) Limited liability company (LLC) D) Corporation
5. Which of the following is NOT a basic business structure in the United States?
A) Partnership B) Sole proprietorship C) Limited liability company (LLC) D) Incorporated E) Corporation
1. Right Answer: B Explanation: Answer option B is correct.Chapter: Business Management and StrategyObjective: Organizations
2. Right Answer: D Explanation: Answer option D is correct.Chapter: Business Management and StrategyObjective: Strategic Management
3. Right Answer: D Explanation: Answer option D is correct.Chapter: Business Management and StrategyObjective: Organizations
4. Right Answer: A Explanation: Answer option A is correct.Chapter: Business Management and StrategyObjective: Organizations
5. Right Answer: D Explanation: Answer option D is correct.Chapter: Business Management and StrategyObjective: Organizations
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