5 Written Questions
5 Matching Questions
- limited partnership
- a A corporate restructuring that occurs when two formerly independent business entities combine to form a new organization.
- b the business entity in a franchise relationship that allows others to operate their business using resources it supplies in exchange for money and other considerations
- c The party in a franchise relationship that pays for the right to use resources supplied by the franchisor
- d A partnership that includes at least one general partner who actively manages the company and accepts unlimited liability and one limited partner who gives up the right to actively manage the company in exchange for limited liability.
- e A voluntary agreement under which two or more people act as co-owners of a business for profit.
5 Multiple Choice Questions
- An owner of a corporation.
- The contractual arrangement between a franchisor and franchisee that spells out the duties and responsibilities of both parties.
- A combination of two firms that are in unrelated industries.
- An organization that pools contributions from investors, clients, or depositors and uses these funds to buy stocks and other securities
- 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
C corporation → A form of corporation that avoids double taxation by having its income taxed as if it were a partnership.
divestiture → The transfer of total or partial ownership of some of a firm's assets to investors or to another company
articles of incorporations → The document filed with a state government to establish the existence of a new corporation.
corporate bylaws → A form of business ownership in which the business is considered a legal entity that is separate and distinct from its owners
limited liability company → A form of business ownership that offers both limited liability to its owners and flexible tax treatment