stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Unit 7 Business Organizations Flashcards | StudBud
Explore
/
Unit 7 Business Organizations
Unit 7 Business Organizations
35 terms
·
StudBud Administration
·
200 plays
Imported from external platform
Flashcards
35 cards
F
Practice quiz
P
Host live
L
Questions
35
Answers
1
Which of these is NOT a benefit of owning a sole proprietorship?
Less government regulations
You don't have to pay taxes
You receive full profit
You are your own boss
2
In a limited partnership, only one partner has unlimited personal liability.
True
False
3
You can buy and sell all stock on any stock exchanges
True
False
4
Vertical mergers do not reduce you competition
True
False
5
Which of these includes opportunity cost?
Variable Cost
Economic Profit
Fixed Cost
Accounting Profit
6
Unlimited personal liability means...
everything can be taken from you if you are sued
you can only be sued if it was your fault
all partners can be sued
only the business can be sued
7
Which of these is not one of the top franchises of 2019? (covered in class)
Burger King
Taco Bell
McDonald's
Sonic
8
Who makes major decisions for corporations?
Board of Directors
President
CEO
Stockholders
9
If you own a share of a company, you have a say in every MAJOR decision
True
False
10
Why are cable companies like Comcast given franchise rights?
I wasn't paying attention
they are a natural monopoly
government sets price ceilings
they put all of the work in to wire up the town
11
Conglomerates are formed when companies that offer similar products merge
True
False
12
Which of these is not a type of business organization?
corporation
sole proprietorship
primaryship
multinational
13
Normal profit begins once the total economic profit is
greater than fixed cost
positive (greater than zero)
greater than variable cost
equal to zero
14
Which of these is an example of a technological monopoly
Elon Musk creates rocket that can travel to Mars
Company builds a dam to create hydropower for a given area
Musician writes new National Anthem
Pharmaceutical company issued patent for new drug
15
One of the key qualities of being an entrepreneur is to be organized
True
False
16
Which is not a reason why sole proprietors do not get great employees?
low pay
lack of vacation time
no benefits (health, dental, etc.)
poor locations
17
What percentage of businesses are sole proprietors?
30%
90%
70%
50%
18
What is the name of the snowman in Frozen?
Marshmallow
Christof
Sven
Olaf
19
If a company issues 10,000 shares, and you buy 15, you own...
15/10,000th of the company
1/1,500th of the company
a majority
nothing, you are just an investor
20
A monopoly exists only when competition is not present
True
False
21
Double taxation is applied to corporations that reach too much sales
True
False
22
Discounted airfare is an example of...
Price discrimination
Entrepreneurial spirit
Multinational corporation
Limited liability
23
All monopolies are illegal
True
False
24
What percentage of new businesses fail within the first two years of opening?
66%
50%
90%
30%
25
In the United States, tech companies are traded on which stock exchange? (hint: 4 letter ticker symbols)
NYSE
NASDAQ
S&P
Dow Jones
26
The business itself is taxed in which of these?
corporation
limited liability partnership
partnership
sole proprietorship
27
What must you sign before entering into a partnership?
Wedding Vows
Uniform Penmanship Policy
Article of Partnership
Uniform Partnership Policy
28
Who regulates the stock market?
SEC
FBI
ACC
FDA
29
Stocks and bonds are very different
True
False
30
In an LLP, all partners suffer if sued.
True
False
31
What is the equation for profit maximization?
Marginal Revenue = Marginal Cost
(Variable + Fixed Cost) - Profit
Marginal Revenue + Marginal Cost
Marginal Revenue - Marginal Cost
32
How many partners can be involved in an LLP?
3
up to 10
unlimited
2
33
The NFL is a monopoly
False
True
34
Which of these is an example of a privately held corporation?
Jordan's Furniture
GM
Ford
IKEA
35
All monopolies are created by an "economy of scale"
False
True
