Business Ownershipi & Entrepreneurship Quiz

Leveraged buyouts

Corporate takeovers financed by a large amount of borrowed money

Which of the following is a reason why small businesses thrives in the US?

Flexibility

Angel investors

Individual investors or groups of experienced investors who provide funding for startup businesses

self-managed work teams

Plan and schedule their own work activities

The C Corportation is another term for

The conventional form of corporation

Franchisee

The purchaser of a franchise is called

Which statement best describes angel investors

They provide funding for startup businesses

S Corporation

To avoid double taxation, a new entrepreneur may elect to organize as a/an

Buyer and Seller

Two types of cooperatives

Bylaws

Which of the following provides the legal and managerial guidelines for operating a firm?

Partners in a general partnership co-own the company's assets

Which of the following statements about a general partnership is true/

It describes in detail the idea for the new business and how it will be operated

Which statement accurately describes a business plan?

Committee

A structure in which authority and responsibility are held by a group of workers rather than a single manager is called a ____ structure

Loose departmentalization

An organic organization has

Intrapreneurs

Are entrepreneurs who apply their creativity, vision, and risk-taking within a large corporation rather than starting a company of their own. They enjoy a high degree of autonomy while receiving a regular salary and financial backing from their employer.

Geography

Coca-Cola Enterprises (CCE) is the largest bottler and distributor of Coke products in the world. It's organized around its North American and European divisions. This departmentalization by _____ allows CCE to respond to the demands of different markets.

The typical problem-solving team

meets regularly to share information and discuss ways to improve processes

Authority

Is the legitimate power granted by the organization and acknowledged by the employees.