Exam 3: Entrepreneurship, New Ventures, and Business Ownership

The ________ program consolidates information from various disciplines and institutions for use by new and existing businesses.

Startup costs and double taxation are disadvantages of the corporate form of ownership.

Discuss four sources of financing for starting up a small business.

The most significant disadvantage of owning a franchise is ________.

Describe the three distinct bodies of corporate governance that are specified in its bylaws.

The startup costs of a franchise are usually very low.

Which of the following occurs when two firms combine to create a new company?

According to SBA estimates,roughly ________ of all new businesses can expect to survive for six years.

Small business investment companies (SBICs)invest in companies with the potential for rapid growth.

Which of the following legal forms of business is owned and usually operated by one person who is responsible for its debts?

In a ________,a firm sells one or more of its business units.

A locally owned and operated restaurant is typically a(n)________.

The organizational form defined as a business that is legally considered an entity separate from its owners and is liable for its own debts is a ________.

Which form of business ownership generates the most sales in the United States?

A partner who actively manages a firm and has unlimited liability for its debts is called a ________.

In a(n)________,owners have limited business liability but unlimited professional liability.

One of the most significant recent trend in small business startups is the rapid emergence of electronic commerce.

Describe a merger.

Which of the following forms of businesses buy products from manufacturers or other producers and then sell them to retailers?

What is a divestiture?