Question 1

Describe the steps required when incorporating a business.

Accepted Answer

Creating a corporation involves the following steps: (1)deciding where to incorporate(2)drawing up a corporate charter and (3)preparing a set of bylaws.

Question 2

The board of directors usually includes some individuals who are not employed by the corporation.These people are referred to as ________.

Accepted Answer

A)  priority directors 
B)  outside directors 
C)  stockholders 
D)  members of top management 
A)  priority directors 
B)  outside directors 
C)  stockholders 
D)  members of top management B

Question 3

When a government unit owns and operates an organization,the arrangement is known as ________.

Accepted Answer

A)  private ownership 
B)  a cooperative 
C)  public ownership 
D)  employee ownership 
A)  private ownership 
B)  a cooperative 
C)  public ownership 
D)  employee ownership C

Question 4

If Smith Steel buys Kennedy Iron Ore to assure itself of a constant flow of ore,this is an example of a ________.

Accepted Answer

A)  domestic company 
B)  conglomerate company 
C)  subsidiary corporation 
D)  vertical merger 
A)  domestic company 
B)  conglomerate company 
C)  subsidiary corporation 
D)  vertical merger

Question 5

Describe the benefits and drawbacks of starting a home-based business.

Accepted Answer

The primary benefit of a home-based busi

Question 6

Tata Motors purchase of Jaguar is an example of a horizontal merger.

Accepted Answer

A) True 
 B)False

Question 7

___________ must verify in writing the accuracy of their corporation's financial statements.

Accepted Answer

A)  Board members 
B)  Stockholders 
C)  CEOs and CFOs 
D)  Governmental officials 
A)  Board members 
B)  Stockholders 
C)  CEOs and CFOs 
D)  Governmental officials

Question 8

Most business incubators are run by venture capital firms.

Accepted Answer

A) True 
 B)False

Question 9

A(n)_____ joins a firm in the same industry that wish to diversify,increase its customer base,cut costs,or offer expanded product lines.

Accepted Answer

A) sole proprietorship 
B) small business 
C) corporation 
D) merger 
E) acquisition
F)horizontal merger
G)conglomerate merger
H)cooperative
I)vertical merger
J)business incubators
K)business plan
L)closed corporation
M)preferred stock
N)franchising 
A) sole proprietorship 
B) small business 
C) corporation 
D) merger 
E) acquisition
F)horizontal merger
G)conglomerate merger
H)cooperative
I)vertical merger
J)business incubators
K)business plan
L)closed corporation
M)preferred stock
N)franchising

Question 10

Innovation is a major small business advantage.

Accepted Answer

A) True 
 B)False

Question 11

Lucia is a chief financial officer in a large corporation.Her responsibilities include the full financial authority to make appropriations and authorize expenditures.Lucia is likely to be a member of ________ management.

Accepted Answer

A)  top 
B)  advisory 
C)  middle 
D)  supervisory 
A)  top 
B)  advisory 
C)  middle 
D)  supervisory

Question 12

Discuss two alternatives to private ownership and give an example of each.

Accepted Answer

Public ownership and cooperatives are al

Question 13

The Business Development Bank of Canada (BDC)offers benefits designed to protect the interests of small business

Accepted Answer

A) True 
 B)False

Question 14

Through the Canada Small Business Financing Program (CSBFP)the government guarantees payment for up to 100 percent of money loaned to a small business.

Accepted Answer

A) True 
 B)False

Question 15

Corporations are the most common form of business ownership.

Accepted Answer

A) True 
 B)False

Question 16

Although ______ are the most common type of business ownership,the greatest revenues come from ______.

Accepted Answer

A)  sole proprietorships,partnerships 
B)  partnerships,corporations 
C)  corporations,partnerships 
D)  sole proprietorships,corporations 
A)  sole proprietorships,partnerships 
B)  partnerships,corporations 
C)  corporations,partnerships 
D)  sole proprietorships,corporations

Question 17

Small businesses that provide services have experienced a greater increase in new jobs than those that produce goods.

Accepted Answer

A) True 
 B)False

Question 18

A(n)_____ combines firms operating at different levels in the production and marketing process.

Accepted Answer

A) sole proprietorship 
B) small business 
C) corporation 
D) merger 
E) acquisition
F)horizontal merger
G)conglomerate merger
H)cooperative
I)vertical merger
J)business incubators
K)business plan
L)closed corporation
M)preferred stock
N)franchising 
A) sole proprietorship 
B) small business 
C) corporation 
D) merger 
E) acquisition
F)horizontal merger
G)conglomerate merger
H)cooperative
I)vertical merger
J)business incubators
K)business plan
L)closed corporation
M)preferred stock
N)franchising

Question 19

Which government program guarantees repayment of bank loans given to small business?

Accepted Answer

A)  Business Development Bank of Canada 
B)  Toronto Stock Exchange 
C)  Canada Small Business Financing Program 
D)  Small Business Investment Company Program 
A)  Business Development Bank of Canada 
B)  Toronto Stock Exchange 
C)  Canada Small Business Financing Program 
D)  Small Business Investment Company Program

Question 20

Many small businesses operate from the owner's residence.

Accepted Answer

A) True 
 B)False

Describe the steps required when incorporating a business.

The board of directors usually includes some individuals who are not employed by the corporation.These people are referred to as ________.

When a government unit owns and operates an organization,the arrangement is known as ________.

If Smith Steel buys Kennedy Iron Ore to assure itself of a constant flow of ore,this is an example of a ________.

Describe the benefits and drawbacks of starting a home-based business.

Tata Motors purchase of Jaguar is an example of a horizontal merger.

___________ must verify in writing the accuracy of their corporation's financial statements.

Most business incubators are run by venture capital firms.

A(n)_____ joins a firm in the same industry that wish to diversify,increase its customer base,cut costs,or offer expanded product lines.

Innovation is a major small business advantage.

Lucia is a chief financial officer in a large corporation.Her responsibilities include the full financial authority to make appropriations and authorize expenditures.Lucia is likely to be a member of ________ management.

Discuss two alternatives to private ownership and give an example of each.

The Business Development Bank of Canada (BDC)offers benefits designed to protect the interests of small business

Through the Canada Small Business Financing Program (CSBFP)the government guarantees payment for up to 100 percent of money loaned to a small business.

Corporations are the most common form of business ownership.

Although are the most common type of business ownership,the greatest revenues come from .

Small businesses that provide services have experienced a greater increase in new jobs than those that produce goods.

A(n)_____ combines firms operating at different levels in the production and marketing process.

Which government program guarantees repayment of bank loans given to small business?

Many small businesses operate from the owner's residence.

The Changing Face of Business

Business Ethics and Social Responsibility

Economic Challenges Facing Contemporary Business

Competing in World Markets

Starting Your Own Business: The Entrepreneurship Alternative

Management, Leadership, and the Internal Organization

Human Resource Management: From Recruitment to Labour Relations

Top Performance through Empowerment, Teamwork, and Communication

Production and Operations Management

Customer-Driven Marketing

Product and Distribution Strategies

Promotion and Pricing Strategies

Using Technology to Manage Information

Understanding Accounting and Financial Statements

The Financial System

Financial Management

Filters

Exam 5: Forms of Business Ownership and Organization

Describe the steps required when incorporating a business.

The board of directors usually includes some individuals who are not employed by the corporation.These people are referred to as ________.

When a government unit owns and operates an organization,the arrangement is known as ________.

If Smith Steel buys Kennedy Iron Ore to assure itself of a constant flow of ore,this is an example of a ________.

Describe the benefits and drawbacks of starting a home-based business.

Tata Motors purchase of Jaguar is an example of a horizontal merger.

___________ must verify in writing the accuracy of their corporation's financial statements.

Most business incubators are run by venture capital firms.

A(n)_____ joins a firm in the same industry that wish to diversify,increase its customer base,cut costs,or offer expanded product lines.

Innovation is a major small business advantage.

Lucia is a chief financial officer in a large corporation.Her responsibilities include the full financial authority to make appropriations and authorize expenditures.Lucia is likely to be a member of ________ management.

Discuss two alternatives to private ownership and give an example of each.

The Business Development Bank of Canada (BDC)offers benefits designed to protect the interests of small business

Through the Canada Small Business Financing Program (CSBFP)the government guarantees payment for up to 100 percent of money loaned to a small business.

Corporations are the most common form of business ownership.

Although ______ are the most common type of business ownership,the greatest revenues come from ______.

Small businesses that provide services have experienced a greater increase in new jobs than those that produce goods.

A(n)_____ combines firms operating at different levels in the production and marketing process.

Which government program guarantees repayment of bank loans given to small business?

Many small businesses operate from the owner's residence.

The Changing Face of Business

Business Ethics and Social Responsibility

Economic Challenges Facing Contemporary Business

Competing in World Markets

Starting Your Own Business: The Entrepreneurship Alternative

Management, Leadership, and the Internal Organization

Human Resource Management: From Recruitment to Labour Relations

Top Performance through Empowerment, Teamwork, and Communication

Production and Operations Management

Customer-Driven Marketing

Product and Distribution Strategies

Promotion and Pricing Strategies

Using Technology to Manage Information

Understanding Accounting and Financial Statements

The Financial System

Financial Management

Filters

Although are the most common type of business ownership,the greatest revenues come from .