Exam 5: Forms of Business Ownership and Organization

Small businesses are more likely than large firms to employ older workers than large businesses,but not younger ones.

Taxes and government regulations are more significant issues for small businesses than for large businesses.

In Canada today,the number of small and medium-sized enterprises that have at least one female owner is _______.

Excessive government paperwork causes some small businesses to close down.

A provincial corporation has the right to carry on business only in the province in which it is incorporated..

Ben is the owner of a small mushroom farm in Ontario.Ben would like to join with other growers to create an organization that will promote and distribute mushrooms.The form of ownership that would be most suited for the growers is the ________.

A small business fails in the management sense when ________.

Martha is the owner of a very small technology start-up.She shares clerical staff,computers,and other business services with other small business owners.Martha is part of a(n):

LinkedIn is a social networking site with an employment focus.

Richard,Sarah,and Trevor form a partnership because it offers the following advantage:

The board of directors of a corporation is elected by the ________.

Non-farming small businesses such as insurance agencies and retail shops contribute less than 10 percent of the nation's GDP.

The vast majority of firms have fewer than 500 employees.

Innovation is possible in small business because they ________.

Most small businesses turn a profit within the first year.

Describe three primary reasons a small business might fail.

Which type of merger results in decreased competition within the same industry?

Today,80 percent of majority women-owned small and medium-sized enterprises operate in the manufacturing sector.

List the elements contained in a business plan.

Securing adequate financing is a major problem for most small businesses.