Question 1

The vast majority of firms have fewer than 500 employees.

Accepted Answer

A) True 
 B)False

Question 2

A small business owner who sells the goods or services of the supplier is known as the franchisor.

Accepted Answer

A) True 
 B)False

Question 3

Complete the following using the terms listed below.
-______ is a contractual agreement that specifies the methods by which a dealer can produce and market a supplier's good or service.

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 4

Majority women-owned small and medium-sized enterprises produce annual commercial revenues of more than $72 billion.

Accepted Answer

A) True 
 B)False

Question 5

In the past 15 years many small businesses have closed because larger firms have bought out the small independent businesses.

Accepted Answer

A) True 
 B)False

Question 6

Isabella owns 100 shares of IBM ______ stock, which means she has voting rights on company decisions at IBM, but only residual claims on the company's assets.

Accepted Answer

A)  preferred 
B)  principal 
C)  management 
D)  common 
A)  preferred 
B)  principal 
C)  management 
D)  common

Question 7

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 8

Many small businesses operate from the owner's residence.

Accepted Answer

A) True 
 B)False

Question 9

Of the small businesses which register each year, about 30% on average survive for five years.

Accepted Answer

A) True 
 B)False

Question 10

Explain the role of corporate management.

Accepted Answer

Stockholders own the corporation and ele

Question 11

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 12

Business incubators provide low-cost, shared business facilities to small startup companies in order to encourage business development.

Accepted Answer

A) True 
 B)False

Question 13

Although ______ are the most common type of business ownership, the greatest revenues come from ______.

Accepted Answer

A)  sole proprietorships, partnerships 
B)  partnerships, corporations 
C)  corporations, partnerships 
D)  sole proprietorships, corporations 
A)  sole proprietorships, partnerships 
B)  partnerships, corporations 
C)  corporations, partnerships 
D)  sole proprietorships, corporations

Question 14

A business plan should include résumés of the company's principal owners.

Accepted Answer

A) True 
 B)False

Question 15

Complete the following using the terms listed below.
-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

Question 16

Haseem owns a small business and needs assistance on a variety of issues. The Business Development Bank of Canada (BDC) can help him by providing all of the following EXCEPT ______.

Accepted Answer

A)  government procurement 
B)  management training skills 
C)  technical assistance 
D)  financial assistance 
A)  government procurement 
B)  management training skills 
C)  technical assistance 
D)  financial assistance

Question 17

Sole proprietorships have all of the following advantages EXCEPT ______.

Accepted Answer

A)  ease of formation 
B)  unlimited life 
C)  ease of liquidation 
D)  profits subject only to a single tax 
A)  ease of formation 
B)  unlimited life 
C)  ease of liquidation 
D)  profits subject only to a single tax

Question 18

Describe the steps required when incorporating a business.

Accepted Answer

Creating a corporation involve

Question 19

Lucia is a chief financial officer in a large corporation. Her responsibilities include the full financial authority to make appropriations and authorize expenditures. Lucia is likely to be a member of ______ management.

Accepted Answer

A)  top 
B)  advisory 
C)  middle 
D)  supervisory 
A)  top 
B)  advisory 
C)  middle 
D)  supervisory

Question 20

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

Accepted Answer

A) True 
 B)False

The vast majority of firms have fewer than 500 employees.

A small business owner who sells the goods or services of the supplier is known as the franchisor.

Complete the following using the terms listed below. -______ is a contractual agreement that specifies the methods by which a dealer can produce and market a supplier's good or service.

Majority women-owned small and medium-sized enterprises produce annual commercial revenues of more than $72 billion.

In the past 15 years many small businesses have closed because larger firms have bought out the small independent businesses.

Isabella owns 100 shares of IBM ______ stock, which means she has voting rights on company decisions at IBM, but only residual claims on the company's assets.

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

Many small businesses operate from the owner's residence.

Of the small businesses which register each year, about 30% on average survive for five years.

Explain the role of corporate management.

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

Business incubators provide low-cost, shared business facilities to small startup companies in order to encourage business development.

Although are the most common type of business ownership, the greatest revenues come from .

A business plan should include résumés of the company's principal owners.

Complete the following using the terms listed below. -Owners of ______ have limited voting rights, but are entitled to the earliest dividends.

Haseem owns a small business and needs assistance on a variety of issues. The Business Development Bank of Canada (BDC) can help him by providing all of the following EXCEPT ______.

Sole proprietorships have all of the following advantages EXCEPT ______.

Describe the steps required when incorporating a business.

Lucia is a chief financial officer in a large corporation. Her responsibilities include the full financial authority to make appropriations and authorize expenditures. Lucia is likely to be a member of ______ management.

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

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

The vast majority of firms have fewer than 500 employees.

A small business owner who sells the goods or services of the supplier is known as the franchisor.

Complete the following using the terms listed below. -______ is a contractual agreement that specifies the methods by which a dealer can produce and market a supplier's good or service.

Majority women-owned small and medium-sized enterprises produce annual commercial revenues of more than $72 billion.

In the past 15 years many small businesses have closed because larger firms have bought out the small independent businesses.

Isabella owns 100 shares of IBM ______ stock, which means she has voting rights on company decisions at IBM, but only residual claims on the company's assets.

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

Many small businesses operate from the owner's residence.

Of the small businesses which register each year, about 30% on average survive for five years.

Explain the role of corporate management.

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

Business incubators provide low-cost, shared business facilities to small startup companies in order to encourage business development.

Although ______ are the most common type of business ownership, the greatest revenues come from ______.

A business plan should include résumés of the company's principal owners.

Complete the following using the terms listed below. -Owners of ______ have limited voting rights, but are entitled to the earliest dividends.

Haseem owns a small business and needs assistance on a variety of issues. The Business Development Bank of Canada (BDC) can help him by providing all of the following EXCEPT ______.

Sole proprietorships have all of the following advantages EXCEPT ______.

Describe the steps required when incorporating a business.

Lucia is a chief financial officer in a large corporation. Her responsibilities include the full financial authority to make appropriations and authorize expenditures. Lucia is likely to be a member of ______ management.

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

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

Although are the most common type of business ownership, the greatest revenues come from .