sutfy temers

Réussis tes devoirs et examens dès maintenant avec Quizwiz!

Aaron Medford has invested $600 in the corporate stock of a manufacturer of offshore oil drilling equipment. If the company goes bankrupt, the most Medford could lose would be:

$600

Jayson Tully is contemplating the purchase of a Popeye's Chicken franchise. Tully has made a list of the disadvantages that he assumes he will face as a new business owner. Which of the following is actually an advantage?

Assistance in building plans

Double taxation is a distinct advantage that corporations have over other forms of ownership T/F

False

A _________ offers the same liability protection as a corporation but may be taxed as either a partnership or a corporation

Limited liability company

Stewed Tomatoes was an "all-girl power-pop trio." Its three members realized that many musicians feel stifled when making music in a sterile studio environment while the clock ticked away expensive hours, so the three girl band members created Materville Studios, a multimedia production house and recording studio in downtown Chicago. They share work responsibilities and profits equally. Materville Studios is a(n):

Partnership

A type of business entity that provides liability protection but is taxed like a partnership is a

S corporation

Before selling stock to the public, a corporation must register with the:

Securities and Exchange Commission

Corporations face many more government restrictions and regulations than sole, and partnerships T/F

True

The corporations board of directors elects the corporate officers T/F

True

Bob Nichol and Martha Bohner own and operate a small company that bakes and sells Thunder Muffins, gigantic muffins full of blueberries, blackberries, or raspberries. They sell the muffins at a local farm that is open to the public on weekends. Since they operate the business as a partnership, they should:

agree to share the business's profits and loses

Which of the following describes a disadvantage associated with a corporation

all of the aboce

which of the following is a disadvantage of sole proprietor ownership

difficulty in raising capital

A corporation

does not have a size limitation

An S corporation

does not make the owners of the corporation personally liable for its debts

Double taxation in a corporation means

earnings of the corporation and dividends of the shareholders both are taxed

who owns a corporation

everyone who owns a share of stock in the corporation

the purchaser of a franchise is called the

franchisee

The headquarters, seller, and supplier of the service or method of operation of a franchise is called the

franchisor

When Addison Wilcox buys an H&R Block franchise, he becomes a franchisee. T/F

true

A term that means that business damages and/or debts can also be attached to the personal assets of the owners is _________ liability

unlimited

Which of the following is an example of a disadvantage associated with a partnership

unlimited liability

Sole proprietorship

have unlimited laibility

Paul Hyatt owns and operates DeepClean, a Florida-based company that cleans up mold and mildew in homes and businesses. As the sole proprietor of the business, he has unlimited liability, which means:

he is fully liable for all business debts

The franchisor generally does NOT provide the franchisee with:

help in employee selection

The fact that a corporation has limited liability means:

owners' liabilities are limited to the amount invested

Of all forms of business ownership, corporations account for the largest share of both:

sales and profits

A corporations board of directors

sets major corporate goals and policies

Which type of business organization experiences the least government regulation

sole

The form of business ownership that is easiest to dissolve is the

sole propietoryship

The most common form of business organization is the

sole proprietorship

Toyna thomas

sole proprietorship

the form of business ownership that has the most difficulty in raising capital is the

sole proprietorship

the c corporation is another term for

the conventional form of corporation


Ensembles d'études connexes

Chapter 6 (When governments intervene in markets)

View Set

Anthropology study guide weeks 1-6

View Set

PrepU chapter 7: Legal Dimensions of Nursing Practice

View Set

APUSH Chapter 18,19 Textbook Questions

View Set

Liver, Pancreas and Biliary Tract - Lippincotts

View Set

Leadership and Management - Net Promoter Score for Employee Engagement

View Set

PSYCH 2720: Chapter 12 (Prejudice)

View Set