26 May Question Bus100 Quiz 2 Question 1 Types of corporations include
Question
Bus100 Quiz 2
Question 1
Types of corporations include
Answer
| sole, general, and nonprofit. | ||
| general, S, statutory close, and nonprofit. | ||
| limited, general, nominal, and S. | ||
| general, limited, and limited liability. |
Question 2
A(n) _____ occurs when two companies agree to combine operations to form a new company.
Answer
| limited liability corporation | ||
| limited partnership | ||
| merger | ||
| acquisition |
Question 3
The _____ is the business entity in a franchise relationship that allows others to operate a business using resources it supplies in exchange for money and other considerations.
Answer
| general corporation | ||
| partner | ||
| franchisor | ||
| franchisee |
Question 4
In most states, the document that owners must file in order to form a corporation is referred to as the
Answer
| articles of incorporation. | ||
| prospectus. | ||
| registration statement. | ||
| election of incorporation certificate. |
Question 5
A _____ is a voluntary agreement between two or more people to jointly own a business.
Answer
| sole proprietorship | ||
| partnership | ||
| corporation | ||
| limited liability partnership |
Question 6
Based on data gathered from the U.S. Census Bureau, _____ are less common than _____ but they tend to be larger and more profitable than _____.
Answer
| corporations; sole proprietorships; sole proprietorships | ||
| partnerships; sole proprietorships; sole proprietorships | ||
| partnerships; sole proprietorships; corporations | ||
| limited liability companies; sole proprietorships; corporations |
Question 7
A nonprofit corporation enjoys the benefit of
Answer
| earnings that are exempt from state and federal taxes. | ||
| guaranteed dividends to shareholders. | ||
| exemption from filing paperwork. | ||
| limited liability for shareholders. |
Question 8
The _____is a relatively new and increasingly popular form of business ownership that is like a corporation in some ways and like a partnership in others.
Answer
| joint venture | ||
| limited liability company | ||
| cooperative | ||
| sole proprietorship |
3 points
Question 9
A _____ merger is the combination of firms in the same industry.
Answer
| hostile | ||
| conglomerate | ||
| vertical | ||
| horizontal |
Question 10
Stockholders are _____ of a corporation. They have the right to vote on issues affecting the operation of the business.
Answer
| creditors | ||
| employees | ||
| buyers | ||
| owners |
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