Question 1

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

Question 2

The CEO of a corporation is automatically the chair of the board of directors.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following types of businesses is least likely to be a not-for-profit corporation?

Accepted Answer

A) a daycare center 
B) a public library 
C) a religious congregation 
D) a pet rescue 
A) a daycare center 
B) a public library 
C) a religious congregation 
D) a pet rescue

Question 4

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 5

Large businesses must be organized as corporations.

Accepted Answer

A) True 
 B)False

Question 6

Describe how the Internet creates both challenges and advantages for small businesses.

Accepted Answer

Many small-business start-ups are more c

Question 7

Describe the steps required when incorporating a business.Regarding incorporation,what might make a state "business-friendly"?

Accepted Answer

Creating a corporation involves the foll

Question 8

Explain why women are drawn to owning their own businesses.

Accepted Answer

Today,women own more than 40 percent of

Question 9

Of the following industries,which is most likely to be owned by a small business owner?

Accepted Answer

A) nursing home 
B) paper mill 
C) home building company 
D) electric utilities company 
A) nursing home 
B) paper mill 
C) home building company 
D) electric utilities company

Question 10

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 11

Ben is the owner of a small mushroom farm in Pennsylvania.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 ________.

Accepted Answer

A) joint venture 
B) open corporation 
C) government-owned collective 
D) cooperative 
A) joint venture 
B) open corporation 
C) government-owned collective 
D) cooperative

Question 12

Explain the how domestic,foreign,and alien corporations are different from one another.

Accepted Answer

Firms are considered domestic corporatio

Question 13

________ newly-launched businesses fail within two years after commencing operations.

Accepted Answer

A) Less than one in ten 
B) About one of every three 
C) About half of all 
D) Almost all 
A) Less than one in ten 
B) About one of every three 
C) About half of all 
D) Almost all

Question 14

Assume that Microsoft decides to invest some of its excess cash by acquiring fellow Seattle-based 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 15

Anita established a corporation in Nebraska,but she recently moved to Colorado where she now conducts her business.What type of corporation does Anita own?

Accepted Answer

A) alien corporation 
B) domestic corporation 
C) foreign corporation 
D) national corporation 
A) alien corporation 
B) domestic corporation 
C) foreign corporation 
D) national corporation

Question 16

MATCHING
Complete the following using the terms listed.
-A(n)_____ combines firms operating at different levels in the production and marketing process.

Accepted Answer

A) sole proprietorship 
B) small business 
C) C corporation 
D) merger 
E) acquisition
F)horizontal merger
G)conglomerate merger
H)microloan
I)vertical merger
J)joint venture
K)board of directors
L)stockholder
M)preferred stock
N)Small Business Administration (SB
A)  
A) sole proprietorship 
B) small business 
C) C corporation 
D) merger 
E) acquisition
F)horizontal merger
G)conglomerate merger
H)microloan
I)vertical merger
J)joint venture
K)board of directors
L)stockholder
M)preferred stock
N)Small Business Administration (SB
A)

Question 17

___________ use their own capital supplemented with government loans to invest in small businesses.

Accepted Answer

A) Franchisors 
B) Small Business Investment Companies (SBICs) 
C) Joint ventures 
D) Microloans 
A) Franchisors 
B) Small Business Investment Companies (SBICs) 
C) Joint ventures 
D) Microloans

Question 18

MATCHING
Complete the following using the terms listed.
-The form of business ownership that is least subject to legal red tape is _____.

Accepted Answer

A) sole proprietorship 
B) small business 
C) C corporation 
D) merger 
E) acquisition
F)horizontal merger
G)conglomerate merger
H)microloan
I)vertical merger
J)joint venture
K)board of directors
L)stockholder
M)preferred stock
N)Small Business Administration (SB
A)  
A) sole proprietorship 
B) small business 
C) C corporation 
D) merger 
E) acquisition
F)horizontal merger
G)conglomerate merger
H)microloan
I)vertical merger
J)joint venture
K)board of directors
L)stockholder
M)preferred stock
N)Small Business Administration (SB
A)

Question 19

A corporation cannot be considered domestic,foreign,and alien at the same time.

Accepted Answer

A) True 
 B)False

Question 20

Small businesses produce over 16 times more patents than large businesses each year.

Accepted Answer

A) True 
 B)False

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

The CEO of a corporation is automatically the chair of the board of directors.

Which of the following types of businesses is least likely to be a not-for-profit corporation?

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.

Large businesses must be organized as corporations.

Describe how the Internet creates both challenges and advantages for small businesses.

Describe the steps required when incorporating a business.Regarding incorporation,what might make a state "business-friendly"?

Explain why women are drawn to owning their own businesses.

Of the following industries,which is most likely to be owned by a small business owner?

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

Ben is the owner of a small mushroom farm in Pennsylvania.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 ________.

Explain the how domestic,foreign,and alien corporations are different from one another.

________ newly-launched businesses fail within two years after commencing operations.

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

Anita established a corporation in Nebraska,but she recently moved to Colorado where she now conducts her business.What type of corporation does Anita own?

MATCHING Complete the following using the terms listed. -A(n)_____ combines firms operating at different levels in the production and marketing process.

___________ use their own capital supplemented with government loans to invest in small businesses.

MATCHING Complete the following using the terms listed. -The form of business ownership that is least subject to legal red tape is _____.

A corporation cannot be considered domestic,foreign,and alien at the same time.

Small businesses produce over 16 times more patents than large businesses each year.

The Changing Face of Business

Business Ethics and Social Responsibility

Economic Challenges Facing Contemporary Business

Competing in World Markets

Starting Your Own Business

Management, Leadership, and the Internal Organization

Human Resource Management: From Recruitment to Labor 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: Small Business and Forms of Business Ownership

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

The CEO of a corporation is automatically the chair of the board of directors.

Which of the following types of businesses is least likely to be a not-for-profit corporation?

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.

Large businesses must be organized as corporations.

Describe how the Internet creates both challenges and advantages for small businesses.

Describe the steps required when incorporating a business.Regarding incorporation,what might make a state "business-friendly"?

Explain why women are drawn to owning their own businesses.

Of the following industries,which is most likely to be owned by a small business owner?

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

Ben is the owner of a small mushroom farm in Pennsylvania.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 ________.

Explain the how domestic,foreign,and alien corporations are different from one another.

________ newly-launched businesses fail within two years after commencing operations.

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

Anita established a corporation in Nebraska,but she recently moved to Colorado where she now conducts her business.What type of corporation does Anita own?

MATCHING Complete the following using the terms listed. -A(n)_____ combines firms operating at different levels in the production and marketing process.

___________ use their own capital supplemented with government loans to invest in small businesses.

MATCHING Complete the following using the terms listed. -The form of business ownership that is least subject to legal red tape is _____.

A corporation cannot be considered domestic,foreign,and alien at the same time.

Small businesses produce over 16 times more patents than large businesses each year.

The Changing Face of Business

Business Ethics and Social Responsibility

Economic Challenges Facing Contemporary Business

Competing in World Markets

Starting Your Own Business

Management, Leadership, and the Internal Organization

Human Resource Management: From Recruitment to Labor 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