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Chapter 5: Choosing A Form Of Business Ownership

10 Questions  I  By Nksandoval
Chapter 5:  Choosing a Form of Business Ownership
Chapter 5 quiz from Understanding Business text book.

  
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Question Excerpt

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1.  The ________ is usually the easiest form of business to start and end.
A.
B.
C.
D.
2.  Mara plans to open a shop specializing in foods and cultural items from the Middle East. She wants to be the firm's only general partner, but she is trying to get several friends to participate as limited partners. Apparently Mara wants to:
A.
B.
C.
D.
3.  Jamie and Maria invested all their savings in a small pizzeria they opened outside the University of Western Kentucky. They operated the business as a general partnership. After 11 months the business went broke and Jamie and Maria were left with outstanding bills of $37,500, which is more than their investment in the company. Jamie and Maria can:
A.
B.
C.
D.
4.  A separation between ownership and management is most likely to occur in a:
A.
B.
C.
D.
5.  One reason limited liability companies have become so popular is that they:
A.
B.
C.
D.
6.  In a leveraged buyout, the managers of a firm, its employees, or other investors attempt to:
A.
B.
C.
D.
7.  Trans Globe Airlines has recently looked into a merger with Royal Blue Airlines, a financially troubled rival. The firms believe the merger will create a stronger company that can offer travelers more flights to a wider variety of destinations. This proposed merger is an example of a: 
A.
B.
C.
D.
8.  An evaluation of franchising would conclude that this type of arrangement:
A.
B.
C.
D.
9.  Midas Muffler sells franchises to prospective businesspersons who want to use the Midas name and offer Midas products. In a franchise agreement, Midas would be the _______, and the buy of the franchise is the________.
A.
B.
C.
D.
10.  A _______ is an organization that is owned and controlled by the people who use it---producers, consumers and workers with similar needs who pool their resources for mutual gain.
A.
B.
C.
D.
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