Chapter 3 - Understanding Entrepreneurship, Small Business & Business Ownership

11 Questions  I  By Golddude1000
Please take the quiz to rate it.

 Chapter 3 - Understanding Entrepreneurship,Small Business & Business Ownership
Good for you. Study hard.

  
Changes are done, please start the quiz.


Questions and Answers

Removing question excerpt is a premium feature

Upgrade and get a lot more done!
1.  An arrangement that gives franchisees (buyers) the right to sell the product of ther franchiser is called
A.
B.
C.
D.
2.  A partnership is when a business with two or more owners who share in the operation of the firm and in financial responsibility for the firm's debts
A.
B.
3.  A limited partner is when a partner who generally does not participate actively in the business and whose liability is limited to the amount invested in the partnership
A.
B.
4.  A general partner is when a partner who is activly involved in managing the firm and has unlimited liability.
A.
B.
5.  A private corporation is a business whose stock is widely held and available for sale to the general public.
A.
B.
6.  A publiccorporation is a business whose stock is held by a small group of individuals and is not usually available for sale to the general public
A.
B.
7.  Stockholders or shareholders are
A.
B.
C.
D.
E.
8.  Limited liability is limited to the investors`investments in the corporation;courtscannot touch the personal assets of investors in the event that the corporation goes bankrupt.
A.
B.
9.  A group of individuals elected by a firm`s shareholders and charged with overseeing and taking legal responsibility for the firm`s actions
A.
B.
C.
10.  A co-operative is an organization that is formed to benefit its owners in the form of reduced prices andéor the distribution of surpluses at year-end. An example of co-operative is housing co-op
A.
B.
11.  Name 2 advantages and 2 disadvantages of being a sole proprietor.
Back to top

Removing ad is a premium feature

Upgrade and get a lot more done!
Take Another Quiz
We have sent an email with your new password.