Question 1

Small-business owners want to determine whether their companies meet the standards for small-business designation because

Accepted Answer

A)  they do not have to pay taxes on their profits 
B)  government agencies offer benefits designed to help and protect the interests of small businesses 
C)  incorporation is easier for them 
D)  banks are more likely to grant them loans 
A)  they do not have to pay taxes on their profits 
B)  government agencies offer benefits designed to help and protect the interests of small businesses 
C)  incorporation is easier for them 
D)  banks are more likely to grant them loans

Question 2

Owners of small businesses can increase their chances of success if they:

Accepted Answer

A)  become an expert in legal,financial,marketing,and other related business areas 
B)  incorporate their business 
C)  hire only family members or friends 
D)  understand their own limitations 
A)  become an expert in legal,financial,marketing,and other related business areas 
B)  incorporate their business 
C)  hire only family members or friends 
D)  understand their own limitations

Question 3

The two principal parties in a franchising agreement are the ________.

Accepted Answer

A)  manager and worker 
B)  franchiser and partners 
C)  franchiser and franchisee 
D)  venture capitalist and SBA 
A)  manager and worker 
B)  franchiser and partners 
C)  franchiser and franchisee 
D)  venture capitalist and SBA

Question 4

Joint ventures are not ideal for international companies due to logistics and conflicting business laws.

Accepted Answer

A) True 
 B)False

Question 5

A(n)_____ is a type of business owned by only a few shareholders and the shares are generally unavailable to outsiders .

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 6

A corporation's assets and liabilities are separate from those of its owners.

Accepted Answer

A) True 
 B)False

Question 7

Which one of the following is NOT considered a Not-for Profit Corporation?

Accepted Answer

A)  Charitable groups 
B)  Museums 
C)  Crown corporations 
D)  Hospitals 
A)  Charitable groups 
B)  Museums 
C)  Crown corporations 
D)  Hospitals

Question 8

Small businesses that provide ________ have experienced the greatest increase in new jobs.

Accepted Answer

A)  goods 
B)  services 
C)  products 
D)  retailing merchandise 
A)  goods 
B)  services 
C)  products 
D)  retailing merchandise

Question 9

Assume that Microsoft decides to invest some of its excess cash by acquiring Starbucks Coffee.This would be a ________.

Accepted Answer

A)  conglomerate merger 
B)  vertical merger 
C)  horizontal merger 
D)  joint venture 
A)  conglomerate merger 
B)  vertical merger 
C)  horizontal merger 
D)  joint venture

Question 10

Certain functions,such as municipal water supply,are considered to be so important to public welfare they are not entrusted to private ownership.

Accepted Answer

A) True 
 B)False

Question 11

One important advantage of franchising is its ability to provide business expertise for relatively inexperienced franchisees.

Accepted Answer

A) True 
 B)False

Question 12

Owners of corporations may owe personal income taxes on dividends,which are paid from after-tax corporate profits.This is an example of double taxation.

Accepted Answer

A) True 
 B)False

Question 13

Preferred shareholders typically have voting rights.

Accepted Answer

A) True 
 B)False

Question 14

Most small business owners realize that personal credit cards carry excessive interest rates,so they avoid using them to finance their business.

Accepted Answer

A) True 
 B)False

Question 15

More than 97 percent of all Canadian businesses employ:

Accepted Answer

A)  100 or fewer employees 
B)  1,000 to 3,000 employees 
C)  3,000 to 5,000 employees 
D)  more than 5,000 employees 
A)  100 or fewer employees 
B)  1,000 to 3,000 employees 
C)  3,000 to 5,000 employees 
D)  more than 5,000 employees

Question 16

Twenty-first century innovations developed by small businesses include social networking sites and green energy industries.

Accepted Answer

A) True 
 B)False

Question 17

One of the most important tasks for an entrepreneur is to create a business plan.

Accepted Answer

A) True 
 B)False

Question 18

What is a business incubator?

Accepted Answer

In recent years,local community agencies

Question 19

If business owners in a partnership wish to limit liability,they have the option to ________.

Accepted Answer

A)  pledge funds 
B)  divide into sole proprietorships 
C)  set up a limited partnership 
D)  withhold funds 
A)  pledge funds 
B)  divide into sole proprietorships 
C)  set up a limited partnership 
D)  withhold funds

Question 20

Owners of _____ have limited voting rights,but are entitled to the earliest dividends.

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

Small-business owners want to determine whether their companies meet the standards for small-business designation because

Owners of small businesses can increase their chances of success if they:

The two principal parties in a franchising agreement are the ________.

Joint ventures are not ideal for international companies due to logistics and conflicting business laws.

A(n)_____ is a type of business owned by only a few shareholders and the shares are generally unavailable to outsiders .

A corporation's assets and liabilities are separate from those of its owners.

Which one of the following is NOT considered a Not-for Profit Corporation?

Small businesses that provide ________ have experienced the greatest increase in new jobs.

Assume that Microsoft decides to invest some of its excess cash by acquiring Starbucks Coffee.This would be a ________.

Certain functions,such as municipal water supply,are considered to be so important to public welfare they are not entrusted to private ownership.

One important advantage of franchising is its ability to provide business expertise for relatively inexperienced franchisees.

Owners of corporations may owe personal income taxes on dividends,which are paid from after-tax corporate profits.This is an example of double taxation.

Preferred shareholders typically have voting rights.

Most small business owners realize that personal credit cards carry excessive interest rates,so they avoid using them to finance their business.

More than 97 percent of all Canadian businesses employ:

Twenty-first century innovations developed by small businesses include social networking sites and green energy industries.

One of the most important tasks for an entrepreneur is to create a business plan.

What is a business incubator?

If business owners in a partnership wish to limit liability,they have the option to ________.

Owners of _____ have limited voting rights,but are entitled to the earliest dividends.

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

Small-business owners want to determine whether their companies meet the standards for small-business designation because

Owners of small businesses can increase their chances of success if they:

The two principal parties in a franchising agreement are the ________.

Joint ventures are not ideal for international companies due to logistics and conflicting business laws.

A(n)_____ is a type of business owned by only a few shareholders and the shares are generally unavailable to outsiders .

A corporation's assets and liabilities are separate from those of its owners.

Which one of the following is NOT considered a Not-for Profit Corporation?

Small businesses that provide ________ have experienced the greatest increase in new jobs.

Assume that Microsoft decides to invest some of its excess cash by acquiring Starbucks Coffee.This would be a ________.

Certain functions,such as municipal water supply,are considered to be so important to public welfare they are not entrusted to private ownership.

One important advantage of franchising is its ability to provide business expertise for relatively inexperienced franchisees.

Owners of corporations may owe personal income taxes on dividends,which are paid from after-tax corporate profits.This is an example of double taxation.

Preferred shareholders typically have voting rights.

Most small business owners realize that personal credit cards carry excessive interest rates,so they avoid using them to finance their business.

More than 97 percent of all Canadian businesses employ:

Twenty-first century innovations developed by small businesses include social networking sites and green energy industries.

One of the most important tasks for an entrepreneur is to create a business plan.

What is a business incubator?

If business owners in a partnership wish to limit liability,they have the option to ________.

Owners of _____ have limited voting rights,but are entitled to the earliest dividends.

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