Question 1

Sam Beauvois has invested $10,000 in his son's pizza restaurant, but takes no part in its management. What is Beauvois?

Accepted Answer

A)  limited partner 
B)  general partner 
C)  nonworking partner 
D)  entrepreneur 
A)  limited partner 
B)  general partner 
C)  nonworking partner 
D)  entrepreneur

Question 2

Dissolving a partnership is easier than dissolving a sole proprietorship.

Accepted Answer

A) True 
 B)False

Question 3

The two types of cooperatives are wholesale and retail.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following statements best describes a general partnership?

Accepted Answer

A)  General partnerships are usually double-taxed. 
B)  A general partnership is an entity separate from its owners. 
C)  Partners in a general partnership co-own the company's assets. 
D)  A general partnership is the most popular form of business ownership. 
A)  General partnerships are usually double-taxed. 
B)  A general partnership is an entity separate from its owners. 
C)  Partners in a general partnership co-own the company's assets. 
D)  A general partnership is the most popular form of business ownership.

Question 5

What do partnership agreements generally specify?

Accepted Answer

A)  the methods of taxation of each partner 
B)  the contributions of each partner 
C)  the percentage of revenue to be generated by each partner 
D)  the provisions for spouses and family to work in the partnership 
A)  the methods of taxation of each partner 
B)  the contributions of each partner 
C)  the percentage of revenue to be generated by each partner 
D)  the provisions for spouses and family to work in the partnership

Question 6

Thom Georges wants to open a store to sell antique architectural features that he can salvage from old houses being torn down. He has invited his parents to invest $40,000 in the enterprise. He has told them that if they do invest, they would have liabilities in the company equal to but no greater than their investment. Georges is trying to get them to form which of the following?

Accepted Answer

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

Question 7

Aaron Medford has invested $600 in the corporate stock of a manufacturer of offshore oil drilling equipment. If the company goes bankrupt, what is the most Medford could lose?

Accepted Answer

A)  half of his investment 
B)  the par value of his stock 
C)  $600 
D)  $600 plus foreclosure costs 
A)  half of his investment 
B)  the par value of his stock 
C)  $600 
D)  $600 plus foreclosure costs

Question 8

Tara Bartek owns and operates the Singing Pig Food Company. Bartek makes and markets 20 different gourmet mustards, salsas, marinades, and dip mixes using her crooning pig logo. As a sole proprietorship, the company would have experienced which of the following?

Accepted Answer

A)  It would have had limited liability. 
B)  It would have had no trouble finding qualified employees. 
C)  It would have found it easy to raise capital. 
D)  It would have been easy and inexpensive to form. 
A)  It would have had limited liability. 
B)  It would have had no trouble finding qualified employees. 
C)  It would have found it easy to raise capital. 
D)  It would have been easy and inexpensive to form.

Question 9

Which of the following are corporate takeovers financed by large amounts of borrowed money?

Accepted Answer

A)  liquidity corporations 
B)  financed mergers 
C)  debt acquisitions 
D)  leveraged buyouts 
A)  liquidity corporations 
B)  financed mergers 
C)  debt acquisitions 
D)  leveraged buyouts

Question 10

What are companies that are traded on a stock exchange or in the over-the-counter market?

Accepted Answer

A)  trading companies 
B)  private companies 
C)  general companies 
D)  listed companies 
A)  trading companies 
B)  private companies 
C)  general companies 
D)  listed companies

Sam Beauvois has invested $10,000 in his son's pizza restaurant, but takes no part in its management. What is Beauvois?

Dissolving a partnership is easier than dissolving a sole proprietorship.

The two types of cooperatives are wholesale and retail.

Which of the following statements best describes a general partnership?

What do partnership agreements generally specify?

Aaron Medford has invested $600 in the corporate stock of a manufacturer of offshore oil drilling equipment. If the company goes bankrupt, what is the most Medford could lose?

Tara Bartek owns and operates the Singing Pig Food Company. Bartek makes and markets 20 different gourmet mustards, salsas, marinades, and dip mixes using her crooning pig logo. As a sole proprietorship, the company would have experienced which of the following?

Which of the following are corporate takeovers financed by large amounts of borrowed money?

What are companies that are traded on a stock exchange or in the over-the-counter market?

Political Environment

Economic Environment

Social Environment

Technological Environment

International Environment

Entrepreneurship and Small Business

Understanding the Business

Management and Leadership in Today’s Organizations

Designing Organizational Structures

Motivating Employees

Managing Human Resources and Labour Relations

Marketing

Creating Marketing Strategies

Achieving World-class Operations Management

Accounting for Financial Success

Understanding Money and the Canadian Financial System

Finance

Filters

Exam 8: Forms of Business Ownership

Sam Beauvois has invested $10,000 in his son's pizza restaurant, but takes no part in its management. What is Beauvois?

Dissolving a partnership is easier than dissolving a sole proprietorship.

The two types of cooperatives are wholesale and retail.

Which of the following statements best describes a general partnership?

What do partnership agreements generally specify?

Aaron Medford has invested $600 in the corporate stock of a manufacturer of offshore oil drilling equipment. If the company goes bankrupt, what is the most Medford could lose?

Tara Bartek owns and operates the Singing Pig Food Company. Bartek makes and markets 20 different gourmet mustards, salsas, marinades, and dip mixes using her crooning pig logo. As a sole proprietorship, the company would have experienced which of the following?

Which of the following are corporate takeovers financed by large amounts of borrowed money?

What are companies that are traded on a stock exchange or in the over-the-counter market?

Political Environment

Economic Environment

Social Environment

Technological Environment

International Environment

Entrepreneurship and Small Business

Understanding the Business

Management and Leadership in Today’s Organizations

Designing Organizational Structures

Motivating Employees

Managing Human Resources and Labour Relations

Marketing

Creating Marketing Strategies

Achieving World-class Operations Management

Accounting for Financial Success

Understanding Money and the Canadian Financial System

Finance

Filters