The Corporation

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The Corporation

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


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Questions and Answers
  • 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.