The Corporation
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Enter your LAST NAME FIRST in the name field to begin the quiz. This quiz is on pages 64 to 67 of the World of Business 3rd Edition text
- 1.A business owned by shareholders is called a corporation or a _____________ company.
- A.
Co-operative
- B.
Limited
- C.
Crown
- D.
Franchise
- 2.Profit paid to a corporation is called ___________________ .
- A.
Profit
- B.
Shares
- C.
Dividend
- D.
Assets
- 3.The owners of a corporation are referred to as ____________ .
- A.
Creditors
- B.
Directors
- C.
Shareholders
- D.
Members
- 4.If a corporation paid out a total of $250 000 in dividends on 25 000 shares, the holder of one share would receive ___________.
- A.
$200
- B.
$100
- C.
$15
- D.
$10
- 5.The legal document that outlines the set of rules and regulations for a company is called a ______________.
- A.
Stock
- B.
Proxy
- C.
Corporation
- D.
Charter
- 6.The corporation's ownership is divided up into many small parts, each of which is called a ________ or a ________ .
- A.
Share, stock
- B.
Charter, proxy
- C.
Share, dividend
- D.
Proxy, stock
- 7.The ______________ sets the policies of the company, determines the particular products or services to be produced, and decides how the profits will be used.
- A.
Executive
- B.
Shareholders
- C.
Board of directors
- D.
Administrators
- 8.The daily operations of a corporation are managed by the ____________ .
- A.
Executive
- B.
Shareholders
- C.
Board of directors
- D.
Employees
- 9.A company's executive group is composed of ...
- A.
The board of directors and the shareholders.
- B.
The owners, management, and employees.
- C.
A president, vice-president, secretary, and treasurer.
- D.
Those who have the most proxy votes.
- 10.The executive group is appointed by the _______________ .
- A.
Shareholders
- B.
The people with the most proxy votes
- C.
The company's charter
- D.
The board of directors
- 11.One advantage of a corporation is that it ...
- A.
Makes a larger profit than other types of businesses.
- B.
Has the ability to raise an unlimited amount of capital.
- C.
Is owned by only a few people.
- D.
Allows it's shareholders to have a say in the daily operations of the business.
- 12.A disadvantage of a corporation is ...
- A.
That executives and shareholders have little personal contact with employees or customers.
- B.
Shareholders make less profit.
- C.
Profits are taxed several times by the government.
- D.
They destroy the environment.
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