chapter 3 entrepreneurship

Question 1

which corporation is usually smaller?

Accepted Answer

S corp

Question 2

All S Corps and C Corps are publically traded

Accepted Answer

false

Question 3

What is a franchisee?

Accepted Answer

one who BUYS a franchise

Question 4

How do stockholders show ownership?

Accepted Answer

elect board of directors

Question 5

What are royalty fees?

Accepted Answer

% of the revenue paid weekly to franchisor

Question 6

All of the following are advantages of a franchise except:

Accepted Answer

more freedom to make decisions

Question 7

Which of the following business formations if the easiest to run and start?

Accepted Answer

sole propietorship

Question 8

Which of the following is the term for someone who buys a franchise?

Accepted Answer

franchisee

Question 9

The failure rate is lower for franchise operations vs non-franchises

Accepted Answer

true

Question 10

Google is not a publically traded corporation

Accepted Answer

false

Question 11

what is a franchise?

Accepted Answer

when someone clones a successful business and allows someone else to run it

Question 12

What is a franchise fee?

Accepted Answer

a one time fee paid to acquire a franchise

Question 13

All corporations are owned by stockholders

Accepted Answer

true

Question 14

Which type of corporation has a tax disadvantage?

Accepted Answer

C Corp

Question 15

owning a franchise gives you a lot of freedom in how you want to run the business.

Accepted Answer

False

Questions 15