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chapter 4 business introduction

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1 Business Introduction Quiz on chapter 4 business introduction , created by Rigo Sanchez on 23/10/2015.
Rigo Sanchez
Quiz by Rigo Sanchez, updated more than 1 year ago
Rigo Sanchez
Created by Rigo Sanchez over 8 years ago
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Resource summary

Question 1

Question
a business that is owned and operated bey one individual is referred to as a
Answer
  • sole proprietorship
  • partnership
  • joint venture
  • non profit cooporation

Question 2

Question
is a form of business ownership that is quasi taxable and consists of two or more owners
Answer
  • partnership
  • acquisition
  • corporation
  • merger

Question 3

Question
is a legal entity, created by the state whose assets and liabilities are separate from its owners
Answer
  • joint venture
  • merger
  • partnership
  • corporation

Question 4

Question
is a partnership established for a specific project for a limited time
Answer
  • joint venture
  • corporation
  • partnership
  • merger

Question 5

Question
is a form of business ownership that is taxed as though it where a partnership with restrictions on shareholders
Answer
  • s corporation
  • merger
  • partnership
  • joint venture d

Question 6

Question
is a form of business ownership that provides limited liability, as in a corporation, but is taxed like a partnership
Answer
  • limited liability company
  • non profit corporation
  • acquisition
  • cooperative

Question 7

Question
an organization composed of individuals or small businesses that have banded together to reap the benefits of belonging to a larger organization is referred to as a
Answer
  • cooperative
  • joint venture
  • merger
  • sole proprietorship

Question 8

Question
occurs when two companies combine to form a new company
Answer
  • merger
  • partnership
  • acquisition
  • joint venture

Question 9

Question
occurs when one company purchases another, usually by buying most of its stock
Answer
  • acquisition
  • partnership
  • joint venture
  • cooperative

Question 10

Question
a group of investors borrows money from banks and other institutions to acquire a company, using the assets of the purchased company to guarantee the repayment of the loan
Answer
  • leveraged buyout
  • cooperative
  • nonprofit corporation
  • acquisition

Question 11

Question
which of the following is an advantage of a sole proprietorship?
Answer
  • ease of formation
  • equally shared profits among owners
  • unlimited liability
  • increased life expectancy

Question 12

Question
which of the following is not a source of funds for a partnership
Answer
  • bank loan
  • personal funds
  • sale of stock
  • private investor

Question 13

Question
the legal documents that identify the base agreements between partners are called
Answer
  • articles of partnership
  • ease of organization
  • combined knowledge and skills
  • availability of capital and credit

Question 14

Question
all the following are advantages of a partnership except
Answer
  • unlimited liability
  • ease of organization
  • combined knowledge and skills
  • availability of capital and credit

Question 15

Question
are the profits of a corporation that are distributed in the form of cash payments to stockholders
Answer
  • common stock
  • preferred stock
  • distributions
  • dividends

Question 16

Question
a private corporation is one
Answer
  • whose stock is traded on the New York stock exchange
  • that does not pay taxes on its income
  • whose stock is not traded in public markets
  • that must disclose its financial to the public

Question 17

Question
is elected by the stockholders to oversee the general operation of the corporation and set long term objectives
Answer
  • board of directors
  • preferred stockholders
  • common stockholders
  • CEO

Question 18

Question
which type of stockholders usually has the right to vote and control the board of directors
Answer
  • preferred stockholders
  • common stockholders
  • the Board of directors
  • members of the firm

Question 19

Question
when companies operating at different but related levels of industry merge, the merger is known as a
Answer
  • horizontal merger
  • vertical merger
  • conglomerate merger
  • hostile takeover

Question 20

Question
results when two firms in unrelated industries merge
Answer
  • horizontal merger
  • vertical merger
  • conglomerate merger
  • hostile takeover
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