Question 1

The purpose of a farm cooperative is to:

Accepted Answer

A)  give members more economic power as a group than they would have as individuals. 
B)  give each farm an equal share in the running of the cooperative. 
C)  equalize the members' standard of living. 
D)  allow socialism a foothold in the U.S. 
A)  give members more economic power as a group than they would have as individuals. 
B)  give each farm an equal share in the running of the cooperative. 
C)  equalize the members' standard of living. 
D)  allow socialism a foothold in the U.S.

Question 2

It is not unusual for members of cooperatives to work for and help manage their cooperative.

Accepted Answer

A) True 
 B)False

Question 3

A cooperative is simply another name for a corporation.

Accepted Answer

A) True 
 B)False

Question 4

Unlimited liability means:

Accepted Answer

A)  when you own your own business you are responsible for all the business debts. 
B)  you are only liable for the money you invest in the business. 
C)  as a franchisee your franchisor is responsible for the debts of the franchise. 
D)  you are liable for whatever advertising promises your firm makes. 
A)  when you own your own business you are responsible for all the business debts. 
B)  you are only liable for the money you invest in the business. 
C)  as a franchisee your franchisor is responsible for the debts of the franchise. 
D)  you are liable for whatever advertising promises your firm makes.

Question 5

In a cooperative, members/customers:

Accepted Answer

A)  democratically control their businesses by electing a board of directors. 
B)  are known as limited partners. 
C)  each have unlimited liability for the debts of the firm. 
D)  take turns serving on the board that manages the company. 
A)  democratically control their businesses by electing a board of directors. 
B)  are known as limited partners. 
C)  each have unlimited liability for the debts of the firm. 
D)  take turns serving on the board that manages the company.

Question 6

Zach and Mac own an auto repair business that they operate as co-owners. Both take an active role in the management of the business, and each accepts unlimited liability. Zach and Mac operate as a __________.

Accepted Answer

A)  joint venture 
B)  general partnership 
C)  limited partnership 
D)  cooperative 
A)  joint venture 
B)  general partnership 
C)  limited partnership 
D)  cooperative

Question 7

In a typical franchise agreement, the franchisor pays the franchisee a fee to manage its company, and the two of them split the profits based on the percentages established in the agreement.

Accepted Answer

A) True 
 B)False

The purpose of a farm cooperative is to:

It is not unusual for members of cooperatives to work for and help manage their cooperative.

A cooperative is simply another name for a corporation.

Unlimited liability means:

In a cooperative, members/customers:

Zach and Mac own an auto repair business that they operate as co-owners. Both take an active role in the management of the business, and each accepts unlimited liability. Zach and Mac operate as a __________.

In a typical franchise agreement, the franchisor pays the franchisee a fee to manage its company, and the two of them split the profits based on the percentages established in the agreement.

Taking Risks and Making Profits Within the Dynamic Business Environment

Understanding Economics and How It Affects Business

Doing Business in Global Markets

Demanding Ethical and Socially Responsible Behavior

Entrepreneurship and Starting a Small Business

Management and Leadership

Structuring Organizations for Todays Challenges

Production and Operations Management

Motivating Employees

Human Resource Management: Finding and Keeping the Best Employees

Dealing With Union and Employeemanagement Issues

Marketing: Helping Buyers Buy

Developing and Pricing Goods and Services

Distributing Products

Using Effective Promotions

Understanding Accounting and Financial Information

Financial Management

Using Securities Markets for Financing and Investing Opportunities

Money, Financial Institutions, and the Federal Reserve

Managing the Marketing Mix: Product, Price, Place and Promotion

Extension: Working Within the Legal Environment

Extension: Using Technology to Manage Information

Extension: Managing Risk

Extension: Managing Personal Finances

Filters

Exam 5: How to Form a Business

The purpose of a farm cooperative is to:

It is not unusual for members of cooperatives to work for and help manage their cooperative.

A cooperative is simply another name for a corporation.

Unlimited liability means:

In a cooperative, members/customers:

Zach and Mac own an auto repair business that they operate as co-owners. Both take an active role in the management of the business, and each accepts unlimited liability. Zach and Mac operate as a __________.

In a typical franchise agreement, the franchisor pays the franchisee a fee to manage its company, and the two of them split the profits based on the percentages established in the agreement.

Taking Risks and Making Profits Within the Dynamic Business Environment

Understanding Economics and How It Affects Business

Doing Business in Global Markets

Demanding Ethical and Socially Responsible Behavior

Entrepreneurship and Starting a Small Business

Management and Leadership

Structuring Organizations for Todays Challenges

Production and Operations Management

Motivating Employees

Human Resource Management: Finding and Keeping the Best Employees

Dealing With Union and Employeemanagement Issues

Marketing: Helping Buyers Buy

Developing and Pricing Goods and Services

Distributing Products

Using Effective Promotions

Understanding Accounting and Financial Information

Financial Management

Using Securities Markets for Financing and Investing Opportunities

Money, Financial Institutions, and the Federal Reserve

Managing the Marketing Mix: Product, Price, Place and Promotion

Extension: Working Within the Legal Environment

Extension: Using Technology to Manage Information

Extension: Managing Risk

Extension: Managing Personal Finances

Filters