Answer Key
Organizations – Practice 1
Choose the correct answer:
- AGM stands for [annual general meeting]
- An association of businessmen to protect and promote business interests is [Chamber of Commerce]
- A partner (who usually provides capital) whose association with the enterprise is not public knowledge is a [sleeping partner]
- A company owned by its shareholders and limited by shares is [a private limited company]
- Organizations that are a crucial part of our society, providing help to the needy, education for a lifetime, and funds for good cause are [NPOs]
- To convert from private to governmental ownership and control is to [nationalize]
- Contracting with another company or person to do a particular function is [outsourcing]
- Location independent working, where workers do not have their own desks, but are allocated work space according to their needs is known as [hot desking]
- An office that puts multiple workers together in the same space to improve short term productivity is known as [an open plan office]
- An investment company that continually offers new shares and buys existing shares back at the request of the shareholder and uses its capital to invest in diversified securities of other companies is called a [mutual fund]