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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 dissolution of an LLC may occur due to:

A. Partner disputes

B. Annual profits

C. Market expansion

D. Tax savings

2 / 42

2. Franchising involves:

A. No contractual obligations

B. Licensing only the trade name

C. Both branding and operating systems

D. Ownership of the franchisee's property

3 / 42

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

A. They require notarization

B. They must be registered first

C. They cannot exist

D. Verbal agreements are sufficient

4 / 42

4. In a company, shareholders' liability is:

A. Shared equally

B. Defined by income

C. Unlimited

D. Limited to investment

5 / 42

5. Joint stock companies ensure:

A. Easy formation

B. Quick decisions

C. Low government control

D. Perpetual succession

6 / 42

6. Unlimited liability discourages proprietors from:

A. Maintaining secrecy

B. Expanding businesses

C. Establishing contact with customers

D. Using home-based offices

7 / 42

7. The primary focus of marketing is:

A. Tax compliance

B. Customer needs

C. Inventory management

D. Product manufacturing

8 / 42

8. Partnership registration:

A. Includes public listing

B. Is compulsory

C. Requires a court order

D. Avoids certain legal disabilities

9 / 42

9. Business format franchising primarily includes:

A. Product exclusivity

B. Franchisee ownership of production

C. Operational and marketing support

D. Trade name and product rights

10 / 42

10. An advantage of franchising for the franchisor is:

A. Rapid brand expansion

B. Direct local engagement

C. Elimination of training costs

D. Full operational control

11 / 42

11. An advantage of partnerships over sole proprietorships is:

A. Larger financial resources

B. Simpler management

C. Full control by one individual

D. Minimal legal formalities

12 / 42

12. Joint stock companies ensure:

A. Perpetual succession

B. Low government control

C. Quick decisions

D. Easy formation

13 / 42

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

A. 10

B. 50

C. Unlimited

D. 20

14 / 42

14. Modern business environments emphasize:

A. Supplier dominance

B. Fixed competition

C. Reduced technological impact

D. Buyer-oriented markets

15 / 42

15. In a company, shareholders' liability is:

A. Unlimited

B. Shared equally

C. Limited to investment

D. Defined by income

16 / 42

16. Franchises often charge:

A. Monthly marketing fees

B. No fees for advertising

C. Licensing fees for legal advice

D. Training expenses upfront

17 / 42

17. Functional structure may lead to:

A. Simplified operations

B. Increased redundancy

C. Unclear authority lines

D. Better inter-departmental coordination

18 / 42

18. Articles of Organization for an LLC include:

A. Operational agreement details

B. Company name and address

C. Employee salary structures

D. Partner selection criteria

19 / 42

19. Franchisees benefit from:

A. Established branding

B. Autonomous product design

C. Independent advertising

D. Guaranteed profit margins

20 / 42

20. In a matrix structure, employees are:

A. Assigned across projects

B. Confined to one function

C. Centralized in decision-making

D. Exclusively departmentalized

21 / 42

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

A. Marketing executives

B. Financial managers

C. General managers

D. Operations managers

22 / 42

22. Joint Stock Companies are suited for:

A. Small retail businesses

B. Short-term ventures

C. Large-scale operations

D. Seasonal operations

23 / 42

23. One major disadvantage of a sole proprietorship is:

A. Government regulation

B. Limited funds

C. High secrecy

D. Quick decisions

24 / 42

24. In a general partnership:

A. Liability is limited to investment

B. All partners are equally liable

C. Registration is mandatory

D. Only one partner is liable for debts

25 / 42

25. Franchising is ideal for:

A. Selling diverse brands

B. Rapid market entry

C. Avoiding training costs

D. Independent branding

26 / 42

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

A. Irrelevant

B. Defined by marketing efforts

C. Based on hierarchy

D. Optional

27 / 42

27. A key feature of a partnership deed is:

A. Limited liability clause

B. Public disclosure

C. Government approval

D. Allocation of duties among partners

28 / 42

28. Functional structure in organizations emphasizes:

A. Separate departments for tasks

B. Matrix management

C. Autonomous units

D. Team-based projects

29 / 42

29. Key responsibilities of finance managers include:

A. Designing production processes

B. Developing marketing strategies

C. Planning for funds

D. Managing customer relationships

30 / 42

30. A divisional structure may result in:

A. Cost-saving synergies

B. Clear authority lines

C. Duplication of resources

D. Centralized decision-making

31 / 42

31. LLCs differ from corporations in:

A. Having fewer tax benefits

B. Offering no liability protection

C. Allowing pass-through taxation

D. Enforcing stricter regulations

32 / 42

32. Disputes in a partnership are typically resolved using:

A. Arbitration clauses

B. Government intervention

C. Partner resignation

D. Court trials

33 / 42

33. A sole proprietorship is not subject to:

A. Personal involvement

B. Government control

C. Unlimited liability

D. Market risks

34 / 42

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

A. Resolving disputes

B. Deciding member roles

C. Legal representation

D. Operating the business

35 / 42

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

A. Owner's life

B. Capital investmentCapital investment

C. Customer loyalty

D. Market demand

36 / 42

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

A. Perpetuity

B. Limited personal liability

C. IPO issuance

D. Mandatory shareholder meetings

37 / 42

37. In partnerships, changes in partner roles require:

A. Public announcement

B. Unilateral decision

C. Unanimous consent

D. Government approval

38 / 42

38. The matrix structure enhances:

A. Rigid decision-making

B. Exclusive departmental work

C. Centralized control

D. Flexibility in operations

39 / 42

39. Sole proprietorship is characterized by:

A. Limited liability

B. Multiple ownership

C. Government control

D. Single ownership

40 / 42

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

A. Absence of royalties

B. Use of trade name and systems

C. Exclusive territorial rights

D. Ownership of the product by franchise

41 / 42

41. Unlimited liability applies to:

A. Sole proprietors

B. Shareholders in corporations

C. LLC members

D. Franchisors

42 / 42

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

A. Immense

B. Minimal

C. Tied to sole ownership

D. Limited by geography

Your score is

The average score is 42%

BUS 201 CBT PRACTICE

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