Theprimary reason that governments regulate business activities is to

protectthe well-being of individuals and businesses

What do owners of ALL business structures need to do?

Verifiy certification needs and obtain necessary permits

Adisadvantage of a general partnership is that each partner

isliable for the business's losses

What two attractive features does a Hybrid business structure provide?

Single Tax and Limited Liability

studbud

Duplicate of Duplicate of Entrepreneurship I Review (3.05-3.06)

17 termsStudBud Administration51 plays

Entrepreneurship I 3.06

Flashcards17 cardsFPractice quizPHost liveL

Questions 17

Answers

1
Theprimary reason that governments regulate business activities is to
limit competition
protectthe well-being of individuals and businesses
changeinternational trade initiatives
encouragebusinesses to expand
2
Which law protects a business's inventions or written works from the unauthorized use by others
Income Tax
Product liability
Intellectual Property
Consumer Protection
3
Advantage of corporation?
Limited Liability
tax advantages
Separate owners and managers
less complex requirment
4
A Business that fails to protect its employees from unnecessary risks could be sued for:
Consideration
Negligence
Breach of Contract
Product Liability
5
Theform of business ownership that can raise money easily is the
soleproprietorship
limitedpartnership
corporation
partnership
6
Protects the future value of Company slogan?
Copyright
Patent
Trademark
Trade Secret
7
Owners of any business structure should protect an idea or product in the form of a
permit, trademark, copyright
charter, patent, permit
copyright, patent, permit
patent, trademark, copyright
8
What do owners of ALL business structures need to do?
Pay a standard registration fee to state
Verifiy certification needs and obtain necessary permits
Provide annual report to stockholders
Consult an attorney
9
Which of the following forms of business has the most potential for financial power
Corporation
General Partnership
Sole Proprietorship
Limited Liability Partnership
10
Which is not a type of Corporation?
Sub-Chapter S
Non-Profit
General
11
Adisadvantage of a general partnership is that each partner
performslimited management duties
investsthe same amount of capital
isliable for the business's losses
hasresponsibility for preparing the annual report
12
Advantage - General Partnership?
Shared workload
Board of Directors
Limited Liability
Complete Control
13
Disadvantage - Corporation?
Harder to raise money
Double Taxes
Complete control
Unlimited Liability
14
What do many local governments require a sole proprietorship to do before opening its doors?
Pay incorporation fees
Develop and operating agreement
Complete a DBA form
create a business charter
15
Protects the future value of a creative song or music?
Copyright
Trade Secret
Trademark
Patent
16
Advantage - Sole proprietorship?
Shared Losses
Limited Liability
Ease of Start-Up
Easy to Raise Money
17
What two attractive features does a Hybrid business structure provide?
Single Tax and Limited Liability
Single Tax and Unlimited Liability
Complete Control and Limited Liability
Complete Control and Unlimited Liability

Duplicate of Duplicate of Entrepreneurship I Review (3.05-3.06) Flashcards | StudBud