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. Disputes in a partnership are typically resolved using:

A. Arbitration clauses

B. Government intervention

C. Court trials

D. Partner resignation

2 / 42

2. One major disadvantage of a sole proprietorship is:

A. Government regulation

B. Quick decisions

C. High secrecy

D. Limited funds

3 / 42

3. The primary focus of marketing is:

A. Product manufacturing

B. Customer needs

C. Inventory management

D. Tax compliance

4 / 42

4. Unlimited liability applies to:

A. Sole proprietors

B. Franchisors

C. LLC members

D. Shareholders in corporations

5 / 42

5. A sole proprietorship is not subject to:

A. Government control

B. Personal involvement

C. Market risks

D. Unlimited liability

6 / 42

6. In a company, shareholders' liability is:

A. Unlimited

B. Shared equally

C. Limited to investment

D. Defined by income

7 / 42

7. A divisional structure may result in:

A. Duplication of resources

B. Clear authority lines

C. Cost-saving synergies

D. Centralized decision-making

8 / 42

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

A. Minimal

B. Limited by geography

C. Tied to sole ownership

D. Immense

9 / 42

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

A. Partner disputes

B. Market expansion

C. Tax savings

D. Annual profits

10 / 42

10. LLCs differ from corporations in:

A. Enforcing stricter regulations

B. Allowing pass-through taxation

C. Offering no liability protection

D. Having fewer tax benefits

11 / 42

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

A. Irrelevant

B. Optional

C. Defined by marketing efforts

D. Based on hierarchy

12 / 42

12. Partnership registration:

A. Avoids certain legal disabilities

B. Is compulsory

C. Requires a court order

D. Includes public listing

13 / 42

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

A. 10

B. 20

C. 50

D. Unlimited

14 / 42

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

A. Limited personal liability

B. Perpetuity

C. IPO issuance

D. Mandatory shareholder meetings

15 / 42

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

A. Ownership of the product by franchise

B. Absence of royalties

C. Exclusive territorial rights

D. Use of trade name and systems

16 / 42

16. Franchising involves:

A. Both branding and operating systems

B. Licensing only the trade name

C. No contractual obligations

D. Ownership of the franchisee's property

17 / 42

17. An advantage of partnerships over sole proprietorships is:

A. Minimal legal formalities

B. Full control by one individual

C. Larger financial resources

D. Simpler management

18 / 42

18. Sole proprietorship is characterized by:

A. Single ownership

B. Multiple ownership

C. Government control

D. Limited liability

19 / 42

19. 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

20 / 42

20. Joint Stock Companies are suited for:

A. Seasonal operations

B. Small retail businesses

C. Large-scale operations

D. Short-term ventures

21 / 42

21. The matrix structure enhances:

A. Centralized control

B. Rigid decision-making

C. Exclusive departmental work

D. Flexibility in operations

22 / 42

22. Functional structure in organizations emphasizes:

A. Separate departments for tasks

B. Autonomous units

C. Matrix management

D. Team-based projects

23 / 42

23. A key feature of a partnership deed is:

A. Allocation of duties among partners

B. Government approval

C. Limited liability clause

D. Public disclosure

24 / 42

24. Joint stock companies ensure:

A. Perpetual succession

B. Easy formation

C. Quick decisions

D. Low government control

25 / 42

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

A. Deciding member roles

B. Resolving disputes

C. Operating the business

D. Legal representation

26 / 42

26. Functional structure may lead to:

A. Unclear authority lines

B. Increased redundancy

C. Simplified operations

D. Better inter-departmental coordination

27 / 42

27. An advantage of franchising for the franchisor is:

A. Elimination of training costs

B. Full operational control

C. Rapid brand expansion

D. Direct local engagement

28 / 42

28. In a matrix structure, employees are:

A. Centralized in decision-making

B. Assigned across projects

C. Confined to one function

D. Exclusively departmentalized

29 / 42

29. Joint stock companies ensure:

A. Easy formation

B. Low government control

C. Perpetual succession

D. Quick decisions

30 / 42

30. Unlimited liability discourages proprietors from:

A. Expanding businesses

B. Maintaining secrecy

C. Establishing contact with customers

D. Using home-based offices

31 / 42

31. Key responsibilities of finance managers include:

A. Developing marketing strategies

B. Designing production processes

C. Planning for funds

D. Managing customer relationships

32 / 42

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

A. Financial managers

B. Operations managers

C. Marketing executives

D. General managers

33 / 42

33. Articles of Organization for an LLC include:

A. Partner selection criteria

B. Company name and address

C. Operational agreement details

D. Employee salary structures

34 / 42

34. In partnerships, changes in partner roles require:

A. Unanimous consent

B. Unilateral decision

C. Government approval

D. Public announcement

35 / 42

35. In a company, shareholders' liability is:

A. Unlimited

B. Limited to investment

C. Shared equally

D. Defined by income

36 / 42

36. Franchisees benefit from:

A. Established branding

B. Independent advertising

C. Guaranteed profit margins

D. Autonomous product design

37 / 42

37. Franchising is ideal for:

A. Selling diverse brands

B. Rapid market entry

C. Independent branding

D. Avoiding training costs

38 / 42

38. Franchises often charge:

A. Licensing fees for legal advice

B. No fees for advertising

C. Training expenses upfront

D. Monthly marketing fees

39 / 42

39. 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 cannot exist

D. They require notarization

40 / 42

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

A. Market demand

B. Capital investmentCapital investment

C. Customer loyalty

D. Owner's life

41 / 42

41. Business format franchising primarily includes:

A. Franchisee ownership of production

B. Operational and marketing support

C. Product exclusivity

D. Trade name and product rights

42 / 42

42. Modern business environments emphasize:

A. Fixed competition

B. Reduced technological impact

C. Buyer-oriented markets

D. Supplier dominance

Your score is

The average score is 42%

BUS 201 CBT PRACTICE

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