Question 1

The _____ structure of a co-op is maintained by a one-member/one- ______ system.

Accepted Answer

A) Private; share 
B) Public; share 
C) Democratic; vote 
D) Autocratic; vote 
A) Private; share 
B) Public; share 
C) Democratic; vote 
D) Autocratic; vote

Question 2

How long is a registered trademark valid?

Accepted Answer

A) 1 year 
B) 5 years 
C) 15 years 
D) Indefinitely 
A) 1 year 
B) 5 years 
C) 15 years 
D) Indefinitely

Question 3

All government employees are prohibited from signing an NDA.

Accepted Answer

A) True 
 B)False

Question 4

Federal and provincial employment standards in Canada deal with all of the following,except:

Accepted Answer

A) Hours of work 
B) Scheduling conflicts 
C) Minimum wages 
D) Overtime pay 
A) Hours of work 
B) Scheduling conflicts 
C) Minimum wages 
D) Overtime pay

Question 5

Does a sole proprietorship need to register their business legally?

Accepted Answer

For a sole proprietorship,no formal,lega

Question 6

In a co-operative,it is possible for some members to exert greater control over the direction of the business by making a greater financial investment than other members.

Accepted Answer

A) True 
 B)False

Question 7

A sole proprietorship regularly earning in excess of $40,000 to $50,000 of taxable income annually is not large enough to warrant incorporation.

Accepted Answer

A) True 
 B)False

Question 8

When it comes to selecting a business name to be registered,or for the purpose of incorporation,all of the following apply except:

Accepted Answer

A) The name must be acceptable to the Registrar of Companies in your province. 
B) Names are generally approved on the first submission. 
C) Any name that is similar to a name already registered will be rejected to avoid public confusion. 
D) The name is typically reserved for your exclusive use for 90 days. 
A) The name must be acceptable to the Registrar of Companies in your province. 
B) Names are generally approved on the first submission. 
C) Any name that is similar to a name already registered will be rejected to avoid public confusion. 
D) The name is typically reserved for your exclusive use for 90 days.

Question 9

How can a patent improve the profitability of your creation?

Accepted Answer

Holding a patent may improve your profit

Question 10

If your business is paid $15,000 for providing services to a client,but it cost you $6000 in supplies and equipment in order to provide that service,then you will be taxed on:

Accepted Answer

A) $15 000 
B) $6000 
C) $21 000 
D) $9000 
A) $15 000 
B) $6000 
C) $21 000 
D) $9000

Question 11

A copyright exists for:

Accepted Answer

A) 5 years 
B) 15 years 
C) Until the death of the copyright holder 
D) For 50 years beyond the death of the copyright holder 
A) 5 years 
B) 15 years 
C) Until the death of the copyright holder 
D) For 50 years beyond the death of the copyright holder

Question 12

One of the most common means of shifting at least some of the risk associated with the occurrence of a major catastrophe is through insurance.

Accepted Answer

A) True 
 B)False

Question 13

Another name used for the board of directors is board of trustees.

Accepted Answer

A) True 
 B)False

Question 14

Is there a role for an advisory board in small business with only four employees?

Accepted Answer

No business is too small to benefit from

Question 15

What is the difference between a general partnership and a limited partnership?

Accepted Answer

In a limited partnership,the partners' s

Question 16

In what way are co-operatives around the world united?

Accepted Answer

Co-operatives around the world are unite

Question 17

Which of the following is an example of a regular deduction your business will be required to make from employees' paycheques?

Accepted Answer

A) Fitness memberships 
B) Parking 
C) Dental insurance 
D) Employment Insurance 
A) Fitness memberships 
B) Parking 
C) Dental insurance 
D) Employment Insurance

Question 18

A(n)__________ comprises the features of shape,configuration,pattern,or ornament applied to a finished article made by hand,tool,or machine.

Accepted Answer

A) Industrial design 
B) Copyright 
C) Patent 
D) Trademark 
A) Industrial design 
B) Copyright 
C) Patent 
D) Trademark

Question 19

Small businesses in Ontario must register for and start collecting HST once their business makes:

Accepted Answer

A) A profit. 
B) Credit available to its customer. 
C) Over $30,000. 
D) Dividend payments to its shareholders. 
A) A profit. 
B) Credit available to its customer. 
C) Over $30,000. 
D) Dividend payments to its shareholders.

Question 20

What kind of protection is provided to the proprietor of a registered design?

Accepted Answer

As with other forms of intellectual prop

The _ structure of a co-op is maintained by a one-member/one- __ system.

How long is a registered trademark valid?

All government employees are prohibited from signing an NDA.

Federal and provincial employment standards in Canada deal with all of the following,except:

Does a sole proprietorship need to register their business legally?

In a co-operative,it is possible for some members to exert greater control over the direction of the business by making a greater financial investment than other members.

A sole proprietorship regularly earning in excess of $40,000 to $50,000 of taxable income annually is not large enough to warrant incorporation.

When it comes to selecting a business name to be registered,or for the purpose of incorporation,all of the following apply except:

How can a patent improve the profitability of your creation?

If your business is paid $15,000 for providing services to a client,but it cost you $6000 in supplies and equipment in order to provide that service,then you will be taxed on:

A copyright exists for:

One of the most common means of shifting at least some of the risk associated with the occurrence of a major catastrophe is through insurance.

Another name used for the board of directors is board of trustees.

Is there a role for an advisory board in small business with only four employees?

What is the difference between a general partnership and a limited partnership?

In what way are co-operatives around the world united?

Which of the following is an example of a regular deduction your business will be required to make from employees' paycheques?

A(n)__________ comprises the features of shape,configuration,pattern,or ornament applied to a finished article made by hand,tool,or machine.

Small businesses in Ontario must register for and start collecting HST once their business makes:

What kind of protection is provided to the proprietor of a registered design?

Buying a Franchise

Marketing

Financing Your Business and Accounting Practices

Legal Considerations

Business Plans

Market Feasibility Study

Exploring Business Ideas and Opportunities

Assessing Your Potential for an Entrepreneurial Career

Buying a Business

Sales

Filters

Exam 6: Cost and Profitability Assessment

The _____ structure of a co-op is maintained by a one-member/one- ______ system.

How long is a registered trademark valid?

All government employees are prohibited from signing an NDA.

Federal and provincial employment standards in Canada deal with all of the following,except:

Does a sole proprietorship need to register their business legally?

In a co-operative,it is possible for some members to exert greater control over the direction of the business by making a greater financial investment than other members.

A sole proprietorship regularly earning in excess of $40,000 to $50,000 of taxable income annually is not large enough to warrant incorporation.

When it comes to selecting a business name to be registered,or for the purpose of incorporation,all of the following apply except:

How can a patent improve the profitability of your creation?

If your business is paid $15,000 for providing services to a client,but it cost you $6000 in supplies and equipment in order to provide that service,then you will be taxed on:

A copyright exists for:

One of the most common means of shifting at least some of the risk associated with the occurrence of a major catastrophe is through insurance.

Another name used for the board of directors is board of trustees.

Is there a role for an advisory board in small business with only four employees?

What is the difference between a general partnership and a limited partnership?

In what way are co-operatives around the world united?

Which of the following is an example of a regular deduction your business will be required to make from employees' paycheques?

A(n)__________ comprises the features of shape,configuration,pattern,or ornament applied to a finished article made by hand,tool,or machine.

Small businesses in Ontario must register for and start collecting HST once their business makes:

What kind of protection is provided to the proprietor of a registered design?

Buying a Franchise

Marketing

Financing Your Business and Accounting Practices

Legal Considerations

Business Plans

Market Feasibility Study

Exploring Business Ideas and Opportunities

Assessing Your Potential for an Entrepreneurial Career

Buying a Business

Sales

Filters

The _ structure of a co-op is maintained by a one-member/one- __ system.