Question 1

Choosing the right form of business ownership will give the owner everything
he or she desires.

Accepted Answer

A) True 
 B)False

Question 2

Some corporate founders of Smith Company want to restrict the transferability of their stock and hold it in the hands of only a few individuals who are not
Allowed to sell it to the general public.What type of company is Smith
Company?

Accepted Answer

A) private corporation 
B) public corporation 
C) restricted corporation 
D) partnership 
A) private corporation 
B) public corporation 
C) restricted corporation 
D) partnership

Question 3

Continuity is an advantage of a corporation; however, ease in transferability
is a disadvantage.

Accepted Answer

A) True 
 B)False

Question 4

In a(n) _____ partnership, a single partner runs the business and any number of other partners have little involvement in it.

Accepted Answer

A) general 
B) limited 
C) unlimited 
D) corporation 
A) general 
B) limited 
C) unlimited 
D) corporation

Question 5

Corporations account for _____percent of all U.S.businesses but generate almost _____percent of the revenues.

Accepted Answer

A) 50% / 50% 
B) 18% / 82% 
C) 11% / 68% 
D) 63% / 75% 
A) 50% / 50% 
B) 18% / 82% 
C) 11% / 68% 
D) 63% / 75%

Question 6

A major problem with partnerships is limited liability.Each partner is
personally liable for his or her own actions, but not for the actions of all the
partners.

Accepted Answer

A) True 
 B)False

Question 7

Some of the advantages of a sole proprietorship business are that it is easy and
inexpensive to form, there are few government regulations, and the owner has
complete control over his/her business.

Accepted Answer

A) True 
 B)False

Question 8

Cooperatives can increase profits for its producer-members and lower costs
for its consumer-members.
(

Accepted Answer

A) True 
 B)False

Choosing the right form of business ownership will give the owner everything he or she desires.

Some corporate founders of Smith Company want to restrict the transferability of their stock and hold it in the hands of only a few individuals who are not Allowed to sell it to the general public.What type of company is Smith Company?

Continuity is an advantage of a corporation; however, ease in transferability is a disadvantage.

In a(n) _____ partnership, a single partner runs the business and any number of other partners have little involvement in it.

Corporations account for _percent of all U.S.businesses but generate almost _percent of the revenues.

A major problem with partnerships is limited liability.Each partner is personally liable for his or her own actions, but not for the actions of all the partners.

Some of the advantages of a sole proprietorship business are that it is easy and inexpensive to form, there are few government regulations, and the owner has complete control over his/her business.

Cooperatives can increase profits for its producer-members and lower costs for its consumer-members. (

The Foundations of Business

Entrepreneurship

Business Ethics and Social Responsibility

Managing for Business Success

Recruiting, Motivating, and Keeping Quality Employees

Product Design and Development

Operations Management in Manufacturing and Service Industries

Business in a Global Environment

Marketing: Providing Value to Customers

Operating in a Digital Marketing and Social Networking

The Role of Accounting in Business

Managing Financial Resources

Teamwork and Communications

Personal Finances

Managing Information and Technology

The Legal and Regulatory Environment of Business

Filters

Exam 3: Selecting a Form of Business Ownership

Choosing the right form of business ownership will give the owner everything he or she desires.

Some corporate founders of Smith Company want to restrict the transferability of their stock and hold it in the hands of only a few individuals who are not Allowed to sell it to the general public.What type of company is Smith Company?

Continuity is an advantage of a corporation; however, ease in transferability is a disadvantage.

In a(n) _____ partnership, a single partner runs the business and any number of other partners have little involvement in it.

Corporations account for _____percent of all U.S.businesses but generate almost _____percent of the revenues.

A major problem with partnerships is limited liability.Each partner is personally liable for his or her own actions, but not for the actions of all the partners.

Some of the advantages of a sole proprietorship business are that it is easy and inexpensive to form, there are few government regulations, and the owner has complete control over his/her business.

Cooperatives can increase profits for its producer-members and lower costs for its consumer-members. (

The Foundations of Business

Entrepreneurship

Business Ethics and Social Responsibility

Managing for Business Success

Recruiting, Motivating, and Keeping Quality Employees

Product Design and Development

Operations Management in Manufacturing and Service Industries

Business in a Global Environment

Marketing: Providing Value to Customers

Operating in a Digital Marketing and Social Networking

The Role of Accounting in Business

Managing Financial Resources

Teamwork and Communications

Personal Finances

Managing Information and Technology

The Legal and Regulatory Environment of Business

Filters

Corporations account for _percent of all U.S.businesses but generate almost _percent of the revenues.