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5 Written questions

5 Matching questions

  1. divestiture
  2. franchisee
  3. corporate bylaws
  4. statutory close corporation
  5. distributorship
  1. a The transfer of total or partial ownership of some of a firm's assets to investors or to another company
  2. b A corporation with a limited number of owners that operates under simpler, less formal rules than a C corporation.
  3. c type of franchising arrangement in which the franchisor makes a product and licenses the franchisee to sell it.
  4. d The party in a franchise relationship that pays for the right to use resources supplied by the franchisor
  5. e The basic rules governing how a corporation is organized and how it conducts its business

5 Multiple choice questions

  1. 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.
  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. A form of corporation that avoids double taxation by having its income taxed as if it were a partnership.
  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. 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.

5 True/False questions

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

          

  2. limited partnershipA 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

          

  3. articles of incorporationsThe most common type of business corporation, where ownership offers limited liability to all of its owners, also called stockholders.

          

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

          

  5. limited liability companyWhen 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.