What is an advantage of a franchise over a sole proprietorship?

Parent Company provides training and support to franchisee.

How is corporation different from a sole proprietorship and partnership?

Corporations provide limited owner liability

What is an advantages of starting a business as a partnership rather than a corporation?

Partnerships can be started up quickly

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6 Functions of a business

15 termsStudBud Administration230 plays

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Questions 15

Answers

1
Which function is classified as collecting money,paying taxes and processing payroll?
Information Technology
Human Resources
Accounting
Operation
2
What is an advantage of a franchise over a sole proprietorship?
Franchisees can sell stock to start up the business
Parent Company provides training and support to franchisee.
Franchisees do not have to work in the business
Parent company will pay all the franchisee's start up costs
3
What type of business is McDonald's?
Sole proprietorship
Franchise
Corporation
Partnership
4
How are a franchise and a sole proprietorship alike?
Can sell stock to raise money
Easy to start to business
Owner keeps all profits
Require a contract to start
5
How is corporation different from a sole proprietorship and partnership?
Corporations provide lower owner taxes
Corporations are easier to start
Corporations do not require a charter
Corporations provide limited owner liability
6
Which function of the business does the hiring, firing, and managing the company benefit?
Marketing
Management
Accounting
Human Resources
7
Tippins and Zurosky is classified at what type of business?
Corporation
Franchise
Partnership
Sole Proprietorship
8
What type of business is Davies' Dog Walking Service?
Corporation
Partnership
Sole Proprietorship
Franchise
9
Promoting, distributing and pricing products are classified as which type of business?
Accounting
Management
Human Resources
Marketing
10
Which has the biggest disadvantages when it comes to paying taxes?
Partnership
Sole Proprietorship
Franchise
Corporation
11
Which function of the business ensures the organization meet goals?
Management
Accounting
Human Resources
Marketing
12
What is an advantages of starting a business as a partnership rather than a corporation?
Partnerships can be started up quickly
Partnership can issue stock and raise money
Partnerships need a legal charter to begin
Partnership have limited legal liablity
13
What type of Business is Bank of America
Partnership
Sole Proprietorship
Corporation
Franchise
14
When comparing the four main business types, which has the most risk and rewards for individual
Partnership
Sole Proprietorship
Franchise
Corporation
15
Which of the following is NOT a non-profit?
Wells Fargo
Salvation Army
Meals on Wheels
United Way

6 Functions of a business Flashcards | StudBud