Types of corporations include

Types of corporations include

Answer

		sole, general, and nonprofit.
		general, S, statutory close, and nonprofit.
		limited, general, nominal, and S.
		general, limited, and limited liability.

Question 2

A(n) _____ occurs when two companies agree to combine operations to form a new company.

Answer

		limited liability corporation
		limited partnership
		merger
		acquisition

Question 3

The _____ is the business entity in a franchise relationship that allows others to operate a business using resources it supplies in exchange for money and other considerations.

Answer

		general corporation
		partner
		franchisor
		franchisee

Question 4

In most states, the document that owners must file in order to form a corporation is referred to as the

Answer

		articles of incorporation.
		prospectus.
		registration statement.
		election of incorporation certificate.

Question 5

A _____ is a voluntary agreement between two or more people to jointly own a business.

Answer

		sole proprietorship
		partnership
		corporation
		limited liability partnership

Question 6

Based on data gathered from the U.S. Census Bureau, _____ are less common than _____ but they tend to be larger and more profitable than _____.

Answer

		corporations; sole proprietorships; sole proprietorships
		partnerships; sole proprietorships; sole proprietorships
		partnerships; sole proprietorships; corporations
		limited liability companies; sole proprietorships; corporations

Question 7

A nonprofit corporation enjoys the benefit of

Answer

		earnings that are exempt from state and federal taxes.
		guaranteed dividends to shareholders.
		exemption from filing paperwork.
		limited liability for shareholders.

Question 8

The _____is a relatively new and increasingly popular form of business ownership that is like a corporation in some ways and like a partnership in others.

Answer

		joint venture
		limited liability company
		cooperative
		sole proprietorship

 

3 points

Question 9

A _____ merger is the combination of firms in the same industry.

Answer

		hostile
		conglomerate
		vertical
		horizontal

Question 10

Stockholders are _____ of a corporation. They have the right to vote on issues affecting the operation of the business.

Answer

		creditors
		employees
		buyers
		owners