Chapter 8 test
Which of the following is an example of a merger
A company combines witch a company that supplies it with raw materials
In a limited liability partnership, all partners
Are limited from personal liability in certain situations
One of the ways a corporation can raise money is by
Selling stock on the stock market
The most important decisions in a corporation are made by
The board of directors
In return for a fee to a franchiser, a business owner receives the right
To sell the franchisers goods and services
A partnership is a business organization owned by
Two or more individuals
Most large businesses are
corporations
The most common form of business organization is
sole proprietorship
Liability
the legal obligation to pay debts
Museums, public schools, and YMCAs are all
exempt from paying income taxes