Chapter 6
A sole proprietorship is a form of business ownership in which:
A single owner actively manages the company
Which of the following is one of the reasons why many people prefer a sole proprietorship?
Pride of ownership
A _____ is a partnership arrangement that includes at least one general partner and at least one limited partner
A limited partnership
An owner of a corporation is called a _____
Stockholder
When people use the term "corporation" without specifying which type, they are generally referring to a(n) _______
C corporation
A _____ refers to a partnership in which all partners can take an active role in managing the business and have unlimited liability for any claims against the firm
General partnership
A(n) ______ cannot distribute dividends to its members
Not-for-profit corporation
In the context of an acquisition, the firm that is purchased by another firm is called the _____.
Target firm