17FS MGMT1050 Exam 2- 07-Nov-2017 ·Wite yor name your eurn, your review work she

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17FS MGMT1050 Exam 2- 07-Nov-2017 ·Wite yor name your eurn, your review work sheet, and your Scantron card. Do it now so you dent forgetl u You may consult your review work sheet during the exam All other resources are prohbited, including your textbook, nobes, your neighbor's exam, and direct or indirect communication tenail, phone calls, texting, etc. Check the front and back of all pages to make sure you have answered all of the questions Return your exam, your review work sheet, and your Scantron card to MC at the end of the exam. ems! Hake sure your name its written on all Objective Section (T/F and Multiple cholce)- 1 point each Choose the best onswer for each true/faise and multiple choice question; mank your response on the Scantron card. 1. Most sole proprietorships focus on manufacturing. A. True 2. Evelyn recently purchased the rights to own and operate a McDonald's fast-food restaurant. She th referred to an ain) A. trade creditor C. Industrialist D. franchiser E. venture capitalht. 3. Jeremy recently accepted a new position in his company that invetved tearning new skitls and taking on ditferen work assignments, albeit without a pay increase. This would best be called a B. transfer D. layoff E. temporary assignment. 4. Most managers perform all five management functions but not necesartty to the same degree. A. True B. Faise S. About three-quarters of all businesses in the United States are sole proprietorships, and they earn sore hearound 10 percent of total business income. Therefore, we may conclude that A the average corporation is smalL, but earns litle income the average corporation hires many people, but makes tittle income. C. the average sole preprnietorship 'is large, but earns little income D. there are many sole proprietorships, but their average income is relatively small E. there are few sole proprietorships, and their average income is relatively small. 6.Corporations cannot be sued. A. True 8. False 17FS MGMT1OS0 Exam 2-Page 1/7

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2)

A franchisee is a small business owner that purchases the right to use an existing business's trademarks, associated brands, and other proprietary knowledge. In addition to paying an annual franchising fee to the underlying company, the franchisee must also pay a portion of its profits to the franchisor.

B option

3) Transfer

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