NAME: ________________________

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5 Written Questions

5 Matching Questions

  1. limited partnership
  2. statutory close corporation
  3. vertical merger
  4. institutional investor
  5. franchisee
  1. a The party in a franchise relationship that pays for the right to use resources supplied by the franchisor
  2. b An organization that pools contributions from investors, clients, or depositors and uses these funds to buy stocks and other securities
  3. c A combination of firms at different stages in the production of a good or service
  4. 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.
  5. e A corporation with a limited number of owners that operates under simpler, less formal rules than a C corporation.

5 Multiple Choice Questions

  1. A form of business ownership in which the business is considered a legal entity that is separate and distinct from its owners
  2. A voluntary agreement under which two or more people act as co-owners of a business for profit.
  3. A corporation that does not seek to earn a profit and differs in several fundamental respects from general corporations.
  4. The basic rules governing how a corporation is organized and how it conducts its business
  5. type of franchising arrangement in which the franchisor makes a product and licenses the franchisee to sell it.

5 True/False Questions

  1. articles of incorporationsThe document filed with a state government to establish the existence of a new corporation.


  2. franchisorthe business entity in a franchise relationship that allows others to operate their business using resources it supplies in exchange for money and other considerations


  3. conglomerate mergerA combination of two firms that are in unrelated industries.


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


  5. horizontal mergerA combination of two firms that are in the same industry


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