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Question
Which of the following is true of a blue ocean strategy?A. It results in a new product or service.
B. It is the business equivalent of cloning.
C. It involves patterning a business on existing firms.
D. It matches the precision of copying as seen in franchising.
Answer
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A. Litigation
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A. Service Contract Act
B. Sarbanes-Oxley Act
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A(n) _____ refers to a contract among LLC members outlining how the LLC will conduct itself.
A. operating agreement
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C. charter
D. articles of incorporation
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Which of the following is true of a limited liability company (LLC)?
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Which of the following is true regarding a small-claims court?
A. These courts will only accept cases where the stakes are as large as $50,000 or above.
B. Most of these courts are designed so that ordinary citizens can bring their cases in.
C. This legal option is only available to entrepreneurs who can afford an attorney.
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When using a(n) _____, the attorney will be paid a specified amount every month regardless of the workload for that month.
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B. flat fee
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By agreeing to an exculpatory clause in a contract, one party is agreeing not to hold the other responsible for his or her actions.
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All business contracts have to be in writing to be enforceable.
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Which of the following statements is true regarding a trademark?
A. A trademark can sometimes also function as a service mark.
B. A trademark once granted lasts for 25 years.
C. A trademark can only be renewed every 5 years.
D. A trademark is not an exclusive right to its creator.
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A. life insurance
B. medical insurance
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_____ repay employers for losses caused by dishonest or negligent employees.
A. Credit insurance
B. Business interruption insurance
C. Surety bonds
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B. the entire value of the property of a business.
C. the value of the historical significance of a building.
D. the amount of fees that a business has to pay to an insurance company.
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A. coverage
B. insurance
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Which of the following statements is true regarding the OSHA Act?
A. It covers employees in mining, transportation, and state and local governments.
B. OSHA offers consultation services to employers for a fee.
C. It requires businesses to report any accidents that result in a fatality or in the hospitalization of three or more employees within 24 hours.
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D. separation of liabilities