Question 1

The number of African American-owned businesses has increased by almost ________ over the past five-year period.

Accepted Answer

A)  18 percent 
B)  28 percent 
C)  48 percent 
D)  78 percent 
A)  18 percent 
B)  28 percent 
C)  48 percent 
D)  78 percent

Question 2

An S-corporation has stock that is widely held and available for sale to the general public.

Accepted Answer

A) True 
 B)False

Question 3

Because of ________,the courts may seize and sell a corporation's assets but cannot touch the personal property of investors.

Accepted Answer

A)  limited liability 
B)  unlimited liability 
C)  tender offer 
D)  limit rules 
A)  limited liability 
B)  unlimited liability 
C)  tender offer 
D)  limit rules

Question 4

Groups of sole proprietorships or partnerships may agree to work together for their common benefit by forming a corporation,which combines the freedom of sole proprietorships with the financial power of cooperatives.

Accepted Answer

A) True 
 B)False

Question 5

Curves,McDonald's,and Subway are examples of ________.

Accepted Answer

A)  government entities 
B)  university sponsored businesses 
C)  franchises 
D)  networking businesses 
A)  government entities 
B)  university sponsored businesses 
C)  franchises 
D)  networking businesses

Question 6

Corporations account for about ________ of all businesses in the United States.

Accepted Answer

A)  5 percent 
B)  20 percent 
C)  50 percent 
D)  85 percent 
A)  5 percent 
B)  20 percent 
C)  50 percent 
D)  85 percent

Question 7

The SBA may consider a business with 1,500 employees to be small,as long as it has low annual revenues.

Accepted Answer

A) True 
 B)False

Question 8

What is a small business?

Accepted Answer

A small business is an indepen

Question 9

Short Case Scenario 3-1
The Miller brothers (Jack, Bill, and Evan) are about to fulfill a life-long dream. They are buying a thousand-acre farm and plan to grow cotton. Seeking independence, they are not interested in bringing in any outside owners. They have obtained financing from the Farm Credit Bureau that will allow them to finance the purchase of the farm and some equipment. The brothers are realistic and expect to work very long hours. However, they have a few critical decisions left to make.
-Should the Miller brothers develop a business plan? Why or why not?

Accepted Answer

A business plan would help the brothers

Question 10

The board of directors of a corporation report to the officers of the corporation.

Accepted Answer

A) True 
 B)False

Question 11

The most striking advantage of general partnerships is their ability to grow with the addition of new talent and money.

Accepted Answer

A) True 
 B)False

Question 12

A ________ is a business that is legally considered a separate entity from its owners and is liable for its own debts.

Accepted Answer

A)  sole proprietorship 
B)  corporation 
C)  partnership 
D)  cooperative 
A)  sole proprietorship 
B)  corporation 
C)  partnership 
D)  cooperative

Question 13

How has the Internet affected small-business start-ups in recent years?

Accepted Answer

Because the Internet provides

Question 14

The owners of a corporation are the ________.

Accepted Answer

A)  board of directors 
B)  officers 
C)  stockholders 
D)  top managers 
A)  board of directors 
B)  officers 
C)  stockholders 
D)  top managers

Question 15

In a(n)________,a firm sets up one or more corporate units as a new independent corporation.

Accepted Answer

A)  ESOP 
B)  divestiture 
C)  spin-off 
D)  merger 
A)  ESOP 
B)  divestiture 
C)  spin-off 
D)  merger

Question 16

Although cooperatives make up only a minor segment of the U.S.economy,their role is still important in what area?

Accepted Answer

A)  construction 
B)  sanitation 
C)  agriculture 
D)  all of the above 
A)  construction 
B)  sanitation 
C)  agriculture 
D)  all of the above

Question 17

A limited liability corporation is a hybrid of a publicly held corporation and a partnership in which owners are taxed as partners but enjoy the benefits of limited liability.

Accepted Answer

A) True 
 B)False

Question 18

In a franchise agreement,the franchiser is ________.

Accepted Answer

A)  the parent company 
B)  the local owner 
C)  the supplier 
D)  any of a number of customers 
A)  the parent company 
B)  the local owner 
C)  the supplier 
D)  any of a number of customers

Question 19

The biggest advantage of the corporate form of business ownership is limited liability.

Accepted Answer

A) True 
 B)False

Question 20

Corporations sell shares in the business called ________.

Accepted Answer

A)  bonds 
B)  treasury securities 
C)  stock 
D)  dividends 
A)  bonds 
B)  treasury securities 
C)  stock 
D)  dividends

The number of African American-owned businesses has increased by almost ________ over the past five-year period.

An S-corporation has stock that is widely held and available for sale to the general public.

Because of ________,the courts may seize and sell a corporation's assets but cannot touch the personal property of investors.

Groups of sole proprietorships or partnerships may agree to work together for their common benefit by forming a corporation,which combines the freedom of sole proprietorships with the financial power of cooperatives.

Curves,McDonald's,and Subway are examples of ________.

Corporations account for about ________ of all businesses in the United States.

The SBA may consider a business with 1,500 employees to be small,as long as it has low annual revenues.

What is a small business?

The board of directors of a corporation report to the officers of the corporation.

The most striking advantage of general partnerships is their ability to grow with the addition of new talent and money.

A ________ is a business that is legally considered a separate entity from its owners and is liable for its own debts.

How has the Internet affected small-business start-ups in recent years?

The owners of a corporation are the ________.

In a(n)________,a firm sets up one or more corporate units as a new independent corporation.

Although cooperatives make up only a minor segment of the U.S.economy,their role is still important in what area?

A limited liability corporation is a hybrid of a publicly held corporation and a partnership in which owners are taxed as partners but enjoy the benefits of limited liability.

In a franchise agreement,the franchiser is ________.

The biggest advantage of the corporate form of business ownership is limited liability.

Corporations sell shares in the business called ________.

The U.S.Business Environment

Business Ethics and Social Responsibility

The Global Context of Business

Business Management

Organizing the Business

Operations Management and Quality

Employee Behavior and Motivation

Leadership and Decision Making

Human Resource Management and Labor Relations

Marketing Processes and Consumer Behavior

Pricing, Distributing, and Promoting Products

The Role of Accountants and Accounting Information

Money and Banking

Managing Finances

Filters

Exam 3: Entrepreneurship, New Ventures, and Business Ownership

The number of African American-owned businesses has increased by almost ________ over the past five-year period.

An S-corporation has stock that is widely held and available for sale to the general public.

Because of ________,the courts may seize and sell a corporation's assets but cannot touch the personal property of investors.

Groups of sole proprietorships or partnerships may agree to work together for their common benefit by forming a corporation,which combines the freedom of sole proprietorships with the financial power of cooperatives.

Curves,McDonald's,and Subway are examples of ________.

Corporations account for about ________ of all businesses in the United States.

The SBA may consider a business with 1,500 employees to be small,as long as it has low annual revenues.

What is a small business?

The board of directors of a corporation report to the officers of the corporation.

The most striking advantage of general partnerships is their ability to grow with the addition of new talent and money.

A ________ is a business that is legally considered a separate entity from its owners and is liable for its own debts.

How has the Internet affected small-business start-ups in recent years?

The owners of a corporation are the ________.

In a(n)________,a firm sets up one or more corporate units as a new independent corporation.

Although cooperatives make up only a minor segment of the U.S.economy,their role is still important in what area?

A limited liability corporation is a hybrid of a publicly held corporation and a partnership in which owners are taxed as partners but enjoy the benefits of limited liability.

In a franchise agreement,the franchiser is ________.

The biggest advantage of the corporate form of business ownership is limited liability.

Corporations sell shares in the business called ________.

The U.S.Business Environment

Business Ethics and Social Responsibility

The Global Context of Business

Business Management

Organizing the Business

Operations Management and Quality

Employee Behavior and Motivation

Leadership and Decision Making

Human Resource Management and Labor Relations

Marketing Processes and Consumer Behavior

Pricing, Distributing, and Promoting Products

The Role of Accountants and Accounting Information

Money and Banking

Managing Finances

Filters