Business Services Business Services 2

Question 1

A company wants to outsource its IT helpdesk. Which contract type best protects service quality?

Accepted Answer

Service Level Agreement (SLA)

Answer

An SLA defines measurable service standards, uptime guarantees, and penalties, making it the best tool for protecting IT helpdesk quality.

Question 2

Which of the following best describes a sole proprietorship in the US?

Accepted Answer

An unincorporated business owned and operated by one person

Answer

A sole proprietorship is the simplest business structure where one individual owns and operates the business with no legal separation from the entity.

Question 3

What does accounts receivable (AR) represent on a company's balance sheet?

Accepted Answer

Money owed to the company by its customers

Answer

Accounts receivable represents money customers owe the company for goods or services already delivered but not yet paid for.

Question 4

A business hires a worker who sets their own hours, uses their own tools, and works for multiple clients. How should this worker typically be classified?

Accepted Answer

Independent contractor

Answer

Control over schedule, use of personal tools, and working for multiple clients are key indicators that someone is an independent contractor rather than an employee.

Question 5

Which document formally outlines the terms of a business partnership before the partnership agreement is signed?

Accepted Answer

Memorandum of Understanding (MOU)

Answer

An MOU is a non-binding document that records the intentions of two parties before a formal legal agreement is finalized.

Business Services Practice Test

Business Services Practice Test

Business Services Business Services 2