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CBT TEST

BUS 201 CBT PRACTICE

Phil

January 16, 2025

Take your time to read instructions before taking this test.

There are 40 questions which you are to answer in 15 minutes that gives you roughly 30 seconds per question.

If you can get at least 60%, you can be rest assured that you’ll ace BUS 201 exam

In a normal exam you will be asked between 40 – 60 questions but I only arranged 40 questions

Note

Do not be in a hurry to answer the questions

Do not waste time on a question you don’t know

Move as fast as possible and starting with questions that don’t have calculation first to save time

Always crosscheck

Don’t be in a hurry to submit, you are not in a competition

Don’t be scared. Getting an A is easy

Don’t be over confident, you can end up a D, E or F. Calm your blood, no be only you sabi book

Please do well to use our comment box incase there’s a message you want to pass to us

70 – 100 A

60 – 69 B

50 – 59 C

45 – 49 D

40 – 44 E

0 – 39 F

I wish you success

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BUS 201

1 / 42

1. The relationship between functions and structure in an organization is:

A. Optional

B. Based on hierarchy

C. Irrelevant

D. Defined by marketing efforts

2 / 42

2. Joint stock companies ensure:

A. Low government control

B. Quick decisions

C. Easy formation

D. Perpetual succession

3 / 42

3. LLCs differ from corporations in:

A. Offering no liability protection

B. Allowing pass-through taxation

C. Having fewer tax benefits

D. Enforcing stricter regulations

4 / 42

4. One major disadvantage of a sole proprietorship is:

A. Government regulation

B. High secrecy

C. Quick decisions

D. Limited funds

5 / 42

5. Unlimited liability applies to:

A. LLC members

B. Sole proprietors

C. Franchisors

D. Shareholders in corporations

6 / 42

6. Which is true about partnerships in the absence of a written agreement?

A. They must be registered first

B. Verbal agreements are sufficient

C. They require notarization

D. They cannot exist

7 / 42

7. A characteristic of the business format franchise model is:

A. Use of trade name and systems

B. Exclusive territorial rights

C. Ownership of the product by franchise

D. Absence of royalties

8 / 42

8. The primary focus of marketing is:

A. Tax compliance

B. Customer needs

C. Product manufacturing

D. Inventory management

9 / 42

9. Joint stock companies ensure:

A. Low government control

B. Quick decisions

C. Perpetual succession

D. Easy formation

10 / 42

10. Unlimited liability discourages proprietors from:

A. Maintaining secrecy

B. Expanding businesses

C. Establishing contact with customers

D. Using home-based offices

11 / 42

11. In a company, shareholders' liability is:

A. Defined by income

B. Limited to investment

C. Shared equally

D. Unlimited

12 / 42

12. An advantage of franchising for the franchisor is:

A. Full operational control

B. Rapid brand expansion

C. Elimination of training costs

D. Direct local engagement

13 / 42

13. A key feature of a partnership deed is:

A. Allocation of duties among partners

B. Public disclosure

C. Government approval

D. Limited liability clause

14 / 42

14. Functional structure in organizations emphasizes:

A. Autonomous units

B. Separate departments for tasks

C. Team-based projects

D. Matrix management

15 / 42

15. Key responsibilities of finance managers include:

A. Designing production processes

B. Managing customer relationships

C. Developing marketing strategies

D. Planning for funds

16 / 42

16. Franchising involves:

A. Both branding and operating systems

B. No contractual obligations

C. Ownership of the franchisee's property

D. Licensing only the trade name

17 / 42

17. A divisional structure may result in:

A. Centralized decision-making

B. Duplication of resources

C. Clear authority lines

D. Cost-saving synergies

18 / 42

18. The scope of growth in a joint stock company is:

A. Immense

B. Tied to sole ownership

C. Limited by geography

D. Minimal

19 / 42

19. Franchises often charge:

A. Licensing fees for legal advice

B. Monthly marketing fees

C. Training expenses upfront

D. No fees for advertising

20 / 42

20. Articles of Organization for an LLC include:

A. Company name and address

B. Operational agreement details

C. Employee salary structures

D. Partner selection criteria

21 / 42

21. In a general partnership:

A. Only one partner is liable for debts

B. Registration is mandatory

C. All partners are equally liable

D. Liability is limited to investment

22 / 42

22. The dissolution of an LLC may occur due to:

A. Partner disputes

B. Annual profits

C. Tax savings

D. Market expansion

23 / 42

23. Business format franchising primarily includes:

A. Franchisee ownership of production

B. Operational and marketing support

C. Trade name and product rights

D. Product exclusivity

24 / 42

24. A registered agent in an LLC is responsible for:

A. Operating the business

B. Legal representation

C. Resolving disputes

D. Deciding member roles

25 / 42

25. Sole proprietorship is characterized by:

A. Multiple ownership

B. Limited liability

C. Government control

D. Single ownership

26 / 42

26. A sole proprietorship is not subject to:

A. Government control

B. Personal involvement

C. Market risks

D. Unlimited liability

27 / 42

27. An advantage of partnerships over sole proprietorships is:

A. Larger financial resources

B. Full control by one individual

C. Minimal legal formalities

D. Simpler management

28 / 42

28. In a matrix structure, employees are:

A. Assigned across projects

B. Centralized in decision-making

C. Confined to one function

D. Exclusively departmentalized

29 / 42

29. Franchising is ideal for:

A. Selling diverse brands

B. Rapid market entry

C. Avoiding training costs

D. Independent branding

30 / 42

30. Partnership registration:

A. Includes public listing

B. Requires a court order

C. Avoids certain legal disabilities

D. Is compulsory

31 / 42

31. Franchisees benefit from:

A. Guaranteed profit margins

B. Independent advertising

C. Autonomous product design

D. Established branding

32 / 42

32. Business operations converting resources into services are overseen by:

A. Operations managers

B. Marketing executives

C. Financial managers

D. General managers

33 / 42

33. In partnerships, changes in partner roles require:

A. Unilateral decision

B. Government approval

C. Public announcement

D. Unanimous consent

34 / 42

34. Modern business environments emphasize:

A. Fixed competition

B. Reduced technological impact

C. Supplier dominance

D. Buyer-oriented markets

35 / 42

35. The matrix structure enhances:

A. Centralized control

B. Flexibility in operations

C. Rigid decision-making

D. Exclusive departmental work

36 / 42

36. The life of a sole proprietorship is dependent on:

A. Owner's life

B. Market demand

C. Capital investmentCapital investment

D. Customer loyalty

37 / 42

37. Disputes in a partnership are typically resolved using:

A. Court trials

B. Government intervention

C. Arbitration clauses

D. Partner resignation

38 / 42

38. Functional structure may lead to:

A. Increased redundancy

B. Unclear authority lines

C. Simplified operations

D. Better inter-departmental coordination

39 / 42

39. A major advantage of a Limited Liability Company (LLC) is:

A. Mandatory shareholder meetings

B. IPO issuance

C. Limited personal liability

D. Perpetuity

40 / 42

40. Maximum number of partners in a non-banking partnership is:

A. 10

B. Unlimited

C. 50

D. 20

41 / 42

41. In a company, shareholders' liability is:

A. Unlimited

B. Shared equally

C. Defined by income

D. Limited to investment

42 / 42

42. Joint Stock Companies are suited for:

A. Seasonal operations

B. Large-scale operations

C. Short-term ventures

D. Small retail businesses

Your score is

The average score is 42%

BUS 201 CBT PRACTICE

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