Business Education: Content Knowledge 5101 With complete verified solutions already graded A+ 2025-2026

Communication Skills

competency most needed for success in most business occupations today

Multinational Companies

A positive trade agenda is beneficial for?

Probate Court

Deals with the legal certification of wills and the administration of estates of the deceased.

Generation Y

Grown up with computers and the Internet playing a significant role in their lives.

Letter

To thank a boss for allowing a person to attend a business-related seminar and then share what that person learned from the seminar. What would be the most appropriate form of communication?

Corporations

Require state charters and operate separately from their owners.

Joint ventures

Do not require a state charter.

Partnerships

Do not require a state charter.

Sole Proprietorships

Do not require a state charter.

The United States Treasury

Not a depository institution. It borrows the money needed to operate the federal government from a variety of sources.

This is to protect its consumers and industries

Primary reason a country might use import tariffs, quotas, or licensing requirements?

Grapevine

Informal channel of business communication. It is called this because it stretches throughout an organization in all directions, irrespective of authority level.

Blog

Collaborators can leave comments but not edit the author's statements.

Wiki

Collaborators can edit the content on the site.

Blog

Organized in reverse chronological order.

Wiki

Organized using a collection of hyperlinks to other individual pages.

Blogs & Wiki

Incorporate social software allowing individuals to achieve goals as a group.

Limited Partners

Invests capital in a business but does not participate in its management.

General Partners

A person who joins with at least one other person to form a business.

Stakeholders

Can affect or be affected by the organization's actions, objectives and policies.

Shareholder

An owner of shares in a company.

Annual Rate

Charged for borrowing (or made by investing), expressed as a single percentage number that represents the actual yearly cost of funds over the term of a loan.

Effective Rate

Actual rate of interest received on a savings account.

Nominal Rate

The interest rate before taking inflation into account.

Periodic Rate

The interest rate charged on a loan or realized on an investment over a specific period of time.

Cooperative Business

Belongs to the people who use it.

Franchise

Proprietary knowledge, processes and trademarks in order to allow the party to sell a product or provide a service under the business's name.

Home-based business

Business whose primary office is in the owner's home. The business can be any size or any type as long as the office itself is located in a home.

Limited liability company

Is a business structure that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation.

Carl D. Perkins Vocational and Technical Education Act

In 1917, federal legislation provided funding for vocational student organizations. Which of the following legislative acts primarily continues that funding?

The Vocational Education Act of 1917 (also known as the Smith-Hughes Act)

In 1917, federal legislation provided funding for vocational student organizations. What was the funding law?

Strict liability

Is a legal doctrine that makes some persons responsible for damages their actions or products cause, regardless of any fault on their part. It does not require proof of negligence.

Bar Chart

To show results and compare sales over time.

Interest Earned

Classified as an other income account.

Career and Technical Skills

Federal funds for business education have tended mostly to support which of the following areas?

Instinct Theory

States that leaders are motivated to lead because there is something innate that allows them to be leaders.

Branding

When a business creates a name, symbol, or design.

Consumerism

Refers to the power of consumers to affect sales and marketing decisions.

Corporation

A business owned by many people but treated by law as if it is owned by one person.

Recruiting

Listing employment openings with required skill descriptions.

Copyright

Protects original works of authorship, and an advertisement is created by a writer or author.

Mutual Fund

Is a collection of assets (stocks, bonds, etc.) selected and managed by an agent for its shareholders.

Cooperative work/education programs

Offer students classroom training and on-the-job work experience as part of their school program.

Perception level of the psychomotor domain

Keyboarding skills are related to?

The Fair Credit Reporting Act

Gives consumers the right to know what is in their file.

The Fair Credit Billing Act

Provides guidelines for both consumers and creditors including procedures to manage disputes regarding billing statements.

Equal Credit Opportunity Act

Law that makes it unlawful for any creditor to discriminate against any applicant, with respect to any aspect of a credit transaction.

Consumer Credit Protection Act

Created disclosure requirements that must be followed by consumer lenders such as banks, credit card companies and auto-leasing firms.

FICA

Tax paid equally by the employer and employee.

State Unemployment Tax

Employers must pay federal and state unemployment taxes in order to fund this.

State Income Tax

Most individual U.S. states collect this in addition to Federal Income Tax.

Federal Income Tax

A tax levied by the United States Internal Revenue Service (IRS) on the annual earnings of individuals, corporations, trusts and other legal entities.

The Shopkeeper's Privilege

Allows businesses to detain a patron for a reasonable amount of time for questioning without being held liable for false imprisonment.

Persuasive résumé

Demonstrates how the candidate's skills and achievements meet the needs of a particular company.

Referring to notes

Is an acceptable methodology in communication. The method demonstrates effective planning and best holds an audience's attention.

To form a corporation

File a charter in the state where its headquarters will be located.

Accounting

Primary purpose is to provide actionable accounting information efficiently.

SCANS list 1

Developed by the United States Department of Labor as a guide for educators who want to help students prepare for the workforce. 1

SCANS list 2

Is a list of skills young people need to succeed in the world of work.2

Virtual private network

Is a secure private network that is constructed within a public network infrastructure, such as the global Internet.

Internship

Provides a beginner in an occupation with hands-on experience, usually as an unpaid trainee.

Apprenticeship

A person who works for another in order to learn a trade

Job Shadowing

Is a work experience option where students learn about a job by walking through the work day as a shadow to a competent worker.

Break Even Point

The point at which the total costs match the total revenues.

Cooperative Education

Students are directly applying their classroom learning to a work experience that is in line with academic studies or career goals.

The Law of Demand

A decline in the price of a good will tend to cause consumers to purchase more of that good.

The Law of Supply

An increase in price results in an increase in quantity supplied.

Best supports current trends and the United States government's role in international trade

It is in the country's interest to remove impediments to free trade such as tariffs and quotas.

To obtain funding

The most popular use of business plans.

Consumerism

The power of consumers to affect sales and marketing decisions.

Trade deficit

The amount by which the cost of a country's imports exceeds the value of its exports.

Transaction Cost Definition

Expenses incurred when buying or selling securities.

Cultural organizational change

Concerned with the way people interact with each other.

Takes place in the process of team management.

Occupational Safety Health Administration (OSHA)

Establishes and enforces standards and laws for working conditions in commercial and industrial sectors.

Federal Trade Commission (FTC)

Chief focus is to prevent fraud and deceptive business practices and to ensure fair competition.

Better Business Bureau (BBB)

Rates the ethical and community standing of a firm to maintain a level of trust between businesses and the public.

Federal Communications Commission (FCC)

Regulates radio, television, telecommunications, broadband, and emergency communication systems.

Securities and Exchange Commission (SEC)

Enforces laws and sets standards for financial disclosure and other pertinent information about firms that trade stock.

Apparent Authority

Refers to a situation where a reasonable person would understand that an agent had authority to act.

Customer wants

Most critical aspect for making marketing decisions.

Trail Balance

Prove that all entries have been posted equally to the debit and credit sides of the affected accounts.

Nation imports more than it exports

Increase in the outflow of its currency because the nation is spending more than it is receiving.

Advisory Committee

Promote public relations

Specific Performance

The performance of a contractual duty, as ordered in cases where damages would not be adequate remedy.

Nominal Damages

A damage award issued by a court when a legal wrong has occurred, but where there was no actual financial loss as a result of that legal wrong.

Exemplary (punitive) damages

Intended to reform or deter the defendant and others from engaging in conduct similar to that which formed the basis of the lawsuit.

Compensatory damages

Money awarded to a plaintiff to compensate for damages, injury, or another incurred loss. Civil Courts.

Encoding

The process of converting an idea into words or gestures that will convey meaning.

Wholesaler

Firm buys products directly from the manufacturer and sells them to retailers.

Contractor

A person or company that undertakes a contract to provide materials or labor to perform a service or do a job.

Recession

A period of falling demand and lower interest rates.

Government during a recession

Increasing government spending and increasing the money supply

A share of common stock

What is the market value of a share of common stock is equal to?

Contracts are discharged

By complete performance of the terms of the contract.

Purely capitalist economy

Competition and specialization of labor are two core fundamentals of?

Factors that influence a person's ethical behavior

Family patterns, personal experiences, and cultural biases.

Net worth

An entity's total assets minus its total liabilities.

Licensing agreement

Is selling the right to use some intangible property (production, process, trademark, or brand name) for a fee or royalty.

Partnership

A type of business organization in which two or more individuals pool money, skills, and other resources, and share the profits or losses.

Workflow analysis

Is a structured approach to identifying and enhancing work processes.