Question 1

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

Accepted Answer

A) True 
 B)False

Question 2

If Smith Steel buys Kennedy Iron Ore to assure itself of a constant flow of ore, this is an example of a ______.

Accepted Answer

A)  domestic company 
B)  conglomerate company 
C)  subsidiary corporation 
D)  vertical merger 
A)  domestic company 
B)  conglomerate company 
C)  subsidiary corporation 
D)  vertical merger

Question 3

Access to the Internet and availability of communications devices such as the BlackBerry and other smartphone technology makes it convenient to run a home-based business.

Accepted Answer

A) True 
 B)False

Question 4

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

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 5

Complete the following using the terms listed below.
-Small startup ventures looking for low-cost shared facilities can utilize ______, offered by local community agencies.

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

Many small businesses are home-based businesses.

Accepted Answer

A) True 
 B)False

Question 7

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

Accepted Answer

A) True 
 B)False

Question 8

Dissolving a partnership is easier than breaking up a sole proprietorship.

Accepted Answer

A) True 
 B)False

Question 9

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 10

In 2009, Walmart started doing business in India by forming a ______ with Bharti Enterprises, Inc., one of India's leading business groups.

Accepted Answer

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

Question 11

Sole proprietorships are easy to form and dissolve.

Accepted Answer

A) True 
 B)False

Question 12

Richard, Sarah, and Trevor form a partnership because it offers the following advantage:

Accepted Answer

A)  greater financial resources. 
B)  unlimited financial liability. 
C)  limiting liability of partners to the value of their interests in the company. 
D)  double taxation. 
A)  greater financial resources. 
B)  unlimited financial liability. 
C)  limiting liability of partners to the value of their interests in the company. 
D)  double taxation.

Question 13

The board of directors of a corporation is elected by the ______.

Accepted Answer

A)  corporation's employees 
B)  bondholders and other creditors 
C)  corporate officers 
D)  stockholders 
A)  corporation's employees 
B)  bondholders and other creditors 
C)  corporate officers 
D)  stockholders

Question 14

Martha is the owner of a very small technology startup. She shares clerical staff, computers, and other business services with other small business owners. Martha is part of a(n)

Accepted Answer

A)  venture capital company. 
B)  business incubator. 
C)  joint venture. 
D)  microloan company. 
A)  venture capital company. 
B)  business incubator. 
C)  joint venture. 
D)  microloan company.

Question 15

Your friend is about to start a small business and has asked for your opinion about starting the business from home. Explain the advantages and disadvantaged of home-based businesses to your friend, in order to help her make the decision.

Accepted Answer

Home-based businesses are firms which op

Question 16

An advantage of starting a home-based business is the lower startup expenses.

Accepted Answer

A) True 
 B)False

Question 17

Nearshoring is the best way to enter international markets.

Accepted Answer

A) True 
 B)False

Question 18

International trade agreements outline the conduct expected by the partners when trading with each other. One resource that has no international regulation though is ______.

Accepted Answer

A)  water supply 
B)  trademarks 
C)  taxes 
D)  patents 
A)  water supply 
B)  trademarks 
C)  taxes 
D)  patents

Question 19

Martha is a small business owner in Ontario and she should NOT worry about government regulations since the government support and provide incentives for small businesses to succeed.

Accepted Answer

A) True 
 B)False

Question 20

In exchange for an ownership share, Benita's small business receives financing from a group of individuals known as ______,

Accepted Answer

A)  microloan investors 
B)  franchisors 
C)  small business investment companies 
D)  venture capitalists 
A)  microloan investors 
B)  franchisors 
C)  small business investment companies 
D)  venture capitalists

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

If Smith Steel buys Kennedy Iron Ore to assure itself of a constant flow of ore, this is an example of a ______.

Access to the Internet and availability of communications devices such as the BlackBerry and other smartphone technology makes it convenient to run a home-based business.

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

Complete the following using the terms listed below. -Small startup ventures looking for low-cost shared facilities can utilize ______, offered by local community agencies.

Many small businesses are home-based businesses.

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

Dissolving a partnership is easier than breaking up a sole proprietorship.

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

In 2009, Walmart started doing business in India by forming a ______ with Bharti Enterprises, Inc., one of India's leading business groups.

Sole proprietorships are easy to form and dissolve.

Richard, Sarah, and Trevor form a partnership because it offers the following advantage:

The board of directors of a corporation is elected by the ______.

Martha is the owner of a very small technology startup. She shares clerical staff, computers, and other business services with other small business owners. Martha is part of a(n)

Your friend is about to start a small business and has asked for your opinion about starting the business from home. Explain the advantages and disadvantaged of home-based businesses to your friend, in order to help her make the decision.

An advantage of starting a home-based business is the lower startup expenses.

Nearshoring is the best way to enter international markets.

International trade agreements outline the conduct expected by the partners when trading with each other. One resource that has no international regulation though is ______.

Martha is a small business owner in Ontario and she should NOT worry about government regulations since the government support and provide incentives for small businesses to succeed.

In exchange for an ownership share, Benita's small business receives financing from a group of individuals known as ______,

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

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

If Smith Steel buys Kennedy Iron Ore to assure itself of a constant flow of ore, this is an example of a ______.

Access to the Internet and availability of communications devices such as the BlackBerry and other smartphone technology makes it convenient to run a home-based business.

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

Complete the following using the terms listed below. -Small startup ventures looking for low-cost shared facilities can utilize ______, offered by local community agencies.

Many small businesses are home-based businesses.

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

Dissolving a partnership is easier than breaking up a sole proprietorship.

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

In 2009, Walmart started doing business in India by forming a ______ with Bharti Enterprises, Inc., one of India's leading business groups.

Sole proprietorships are easy to form and dissolve.

Richard, Sarah, and Trevor form a partnership because it offers the following advantage:

The board of directors of a corporation is elected by the ______.

Martha is the owner of a very small technology startup. She shares clerical staff, computers, and other business services with other small business owners. Martha is part of a(n)

Your friend is about to start a small business and has asked for your opinion about starting the business from home. Explain the advantages and disadvantaged of home-based businesses to your friend, in order to help her make the decision.

An advantage of starting a home-based business is the lower startup expenses.

Nearshoring is the best way to enter international markets.

International trade agreements outline the conduct expected by the partners when trading with each other. One resource that has no international regulation though is ______.

Martha is a small business owner in Ontario and she should NOT worry about government regulations since the government support and provide incentives for small businesses to succeed.

In exchange for an ownership share, Benita's small business receives financing from a group of individuals known as ______,

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