The Business Organization Quiz

5 Questions | Total Attempts: 412

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Business Organization Quizzes & Trivia

This a a quiz on the key terms that was assigned for "The Business Organization"


Questions and Answers
  • 1. 
    Define what a Vision Statement is:
  • 2. 
    A written declaration of an organizations core purpose and focus that normally remains unchanged over time.
    • A. 

      Mission Statement

    • B. 

      Financial Statements

    • C. 

      Regulations

    • D. 

      Partnership Agreements

  • 3. 
    US business organizational structure that provides several non-tax benefits (such as limited liability for the owners and is popular for raising large amounts of investment capital by going public
    • A. 

      C-Corp

    • B. 

      S-Corp

    • C. 

      Limited Liability Company

    • D. 

      Sole Proprietor

  • 4. 
    Sole owner of a business; He or she directs the affairs of the enterprise, bears its risks and losses, and takes the profits and benefits
    • A. 

      Partnership

    • B. 

      Vision

    • C. 

      Sole Proprietor

    • D. 

      Non-Profit Company

  • 5. 
    Type of the US corporation in which the firm's income is passed through its shareholders in proportion of their investment, and taxed at personal income tax rate.  This type of corporation can have only one type of stock and only a limited number of stockholders.
    • A. 

      C-Corporation

    • B. 

      Partnerships

    • C. 

      Limited Liability Company

    • D. 

      S-Corporation

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