Business Types Quiz

An agreement between two or more groups to form a business entity for a specific time.

A financing method that uses borrowed money to pay for the company that is being taken over.

Preffered Stockholders elect the board of directors that manage day to day operations of the business.

This type of ownership is the simplest type of business to start.

Compared to a corporation, a partnership is more difficult and expensive to establish.

Unlimited liability means that:

A conglomerate merger takes place between two firms in the same industry.

If Dominos bought Pizza hut, it would be an example of a:

Corporate officers are elected by the firm's stockholders.

The concept of being personally responsible for all debts of a business.

When business firms need large amounts of money to finance a major project, they are likely to establish a:

The ability to combine skills and knowledge is an advantage of a:

The articles of partnership is a written contract describing the terms of a partnership.

The amount paid for stock is the most a stockholder can lose in the corporate form of ownership.

A company chartered in a foreign country doing business in the USA

The S Corporation form of organization allows a corporation to avoid double taxation.

A corporation whose stock is owned by relatively few people is called a.

A temp. assoc. of firms organized to perform a specific task that requires a large amount of capital.

A distribution of earnings to the stockholders of a corp.

A limited parter is responsible for all debts of the partnership, if he or she was involved in the transaction or not.

A person who invests only money in a partnership

An association between two or more business owners

Unlimited liability is a disadvantage of which type of business

The board of directors is directly responsible to the stockholders.