Before Troy can incorporate his advertising business in Champaign, Illinois, he must have a(n) ____ approved by the ____.
A) articles of incorporation; U.S. Corporate Business Administration
B) corporate charter; Champaign city mayor
C) agreement; Secretary of Commerce of the United States
D) articles of incorporation; stockholders
E) articles of incorporation; secretary of state of Illinois
Question 2 - Salaries payable, accounts payable, and taxes payable are examples of
A) expenses.
B) current liabilities.
C) current assets.
D) long-term liabilities.
E) owners' equity.
Question 3 - The need for self-actualization concerns an employee's desire for
A) safety.
B) survival.
C) a sense of belonging.
D) self-worth.
E) becoming the best there is.
Question 4 - Local offices affiliated with the Small Business Administration (SBA) that provide comprehensive management assistance to current and prospective small business owners are known as _________.
A. Small Business Development Centers
B. Small Business Incubation Offices
C. Small Business Advancement Stations
D. Small Business Creation Sites
Fill in the blank(s) with correct word
Question 5 - When starting a corporation, people submit articles of incorporation to
A) a county judge.
B) the secretary of state.
C) the U.S. Attorney General.
D) the Department of Commerce.
E) the Small Business Administration.
Question 6 - Extreme Sports, a bicycle, ATV, and motorbike retailer, buys its inventory on credit. Before Extreme pays for this merchandise in 60 days, the money owed is classified on its balance sheet as a(n)
A) current asset.
B) intangible asset.
C) account payable.
D) long-term liability.
E) account receivable.
Question 7 - The most difficult need to satisfy is
A) safety.
B) self-actualization.
C) esteem.
D) social.
E) physiological.
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