Exam 6: Forms of Business Ownership and Buying an Existing Business

________ is a special type of limited partnership in which all partners who, in many states must be considered to be professionals, are limited partners.

(Multiple Choice)

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Question 121

If a sole proprietor dies, retires, or becomes incapacitated, the business automatically terminates.

(True/False)

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Question 122

Which of the following statements concerning financing the purchase of an existing business is not true?

(Multiple Choice)

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Question 123

An entrepreneur should never purchase a business that is losing money.

(True/False)

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Question 124

One of the advantages of a partnership over a proprietorship is the increased sources of capital and credit it offers.

(True/False)

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Question 125

The first step an entrepreneur should take when buying an existing business is to ________.

(Multiple Choice)

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Question 126

Showing 121 - 126 of 126

________ is a special type of limited partnership in which all partners who, in many states must be considered to be professionals, are limited partners.

If a sole proprietor dies, retires, or becomes incapacitated, the business automatically terminates.

Which of the following statements concerning financing the purchase of an existing business is not true?

An entrepreneur should never purchase a business that is losing money.

One of the advantages of a partnership over a proprietorship is the increased sources of capital and credit it offers.

The first step an entrepreneur should take when buying an existing business is to ________.

The Foundations of Entrepreneurship

Ethics and Social Responsibility: Doing the Right Thing

Inside the Entrepreneurial Mind: From Ideas to Reality

Conducting a Feasibility Analysis and Designing a Business Model

Crafting a Business Plan and Building a Solid Strategic Plan

Franchising and the Entrepreneur

Building a Powerful Bootstrap Marketing Plan

E-Commerce and the Entrepreneur

Pricing and Credit Strategies

Creating a Successful Financial Plan

Managing Cash Flow

Sources of Financing: Debt and Equity

Choosing the Right Location and Layout

Global Opportunities

Building a Team and Management Succession

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