5 Written questions
5 Matching questions
- nonprofit corporation
- franchise disclosure document (FDD)
- sole proprietorship
- articles of incorporations
- corporate bylaws
- a 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.
- b The basic rules governing how a corporation is organized and how it conducts its business
- c The document filed with a state government to establish the existence of a new corporation.
- d A form of business ownership with a single owner who usually actively manages the company
- e A corporation that does not seek to earn a profit and differs in several fundamental respects from general corporations.
5 Multiple choice questions
- The contractual arrangement between a franchisor and franchisee that spells out the duties and responsibilities of both parties.
- A form of corporation that avoids double taxation by having its income taxed as if it were a partnership.
- A corporate restructuring in which one firm buys another.
- 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.
- A combination of two firms that are in unrelated industries.
5 True/False questions
franchisee → 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
C corporation → The most common type of business corporation, where ownership offers limited liability to all of its owners, also called stockholders.
distributorship → A voluntary agreement under which two or more people act as co-owners of a business for profit.
stockholder → An owner of a corporation.
limited partnership → 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