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5 Written questions

5 Matching questions

  1. conglomerate merger
  2. franchisee
  3. limited liability partnership
  4. horizontal merger
  5. partnership
  1. a A combination of two firms that are in the same industry
  2. b A combination of two firms that are in unrelated industries.
  3. c A voluntary agreement under which two or more people act as co-owners of a business for profit.
  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 The party in a franchise relationship that pays for the right to use resources supplied by the franchisor

5 Multiple choice questions

  1. A corporation that does not seek to earn a profit and differs in several fundamental respects from general corporations.
  2. a licensing agreement wherebu a franchisor allows franchisees to use its name, trademark, products, business methods and other property in exchange for monetary payments and other consideration
  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 form of corporation that avoids double taxation by having its income taxed as if it were a partnership.
  5. A form of business ownership in which the business is considered a legal entity that is separate and distinct from its owners

5 True/False questions

  1. franchise disclosure document (FDD)The contractual arrangement between a franchisor and franchisee that spells out the duties and responsibilities of both parties.

          

  2. corporate bylawsThe basic rules governing how a corporation is organized and how it conducts its business

          

  3. statutory close corporationA corporation with a limited number of owners that operates under simpler, less formal rules than a C corporation.

          

  4. C corporationA form of corporation that avoids double taxation by having its income taxed as if it were a partnership.

          

  5. acquisitionA corporate restructuring in which one firm buys another.

          

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