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5 Written questions

5 Matching questions

  1. institutional investor
  2. limited liability partnership
  3. S corporation
  4. statutory close corporation
  5. corporation
  1. a A form of corporation that avoids double taxation by having its income taxed as if it were a partnership.
  2. b A corporation with a limited number of owners that operates under simpler, less formal rules than a C corporation.
  3. c A form of business ownership in which the business is considered a legal entity that is separate and distinct from its owners
  4. d A form of partnership in which all partners have the right to participate in management and have limited liability for company debts.
  5. e An organization that pools contributions from investors, clients, or depositors and uses these funds to buy stocks and other securities

5 Multiple choice questions

  1. A broad franchise agreement in which the franchisee pays for the right to use the name, trademark, and business and production methods of the franchisor.
  2. type of franchising arrangement in which the franchisor makes a product and licenses the franchisee to sell it.
  3. When owners are not personally liable for claims against their firm. Limited liability owners may lose their investment in the company, but their personal assets are protected.
  4. A voluntary agreement under which two or more people act as co-owners of a business and have unlimited liability for any claims against the firm
  5. A detailed description of all aspects of a franchise that the franchisor must provide to the franchisee at least 14 calendar days before the franchise agreement is signed.

5 True/False questions

  1. mergerA corporate restructuring that occurs when two formerly independent business entities combine to form a new organization.

          

  2. partnershipA voluntary agreement under which two or more people act as co-owners of a business for profit.

          

  3. divestitureA corporate restructuring that occurs when two formerly independent business entities combine to form a new organization.

          

  4. franchise agreementThe contractual arrangement between a franchisor and franchisee that spells out the duties and responsibilities of both parties.

          

  5. nonprofit corporationThe most common type of business corporation, where ownership offers limited liability to all of its owners, also called stockholders.

          

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