Business in the Private Sector/Business Organizations

Question 1

Businesses that sell primarily to individual consumers are in what kind of market?

Accepted Answer

Business to Consumer

Question 2

Is a share of ownership in a corporation.

Accepted Answer

Stock

Question 3

The types of customer businesses can be separated into three categories which one is not?

Accepted Answer

Non-Profit Organizations

Question 4

What is the founding document for corporation?

Accepted Answer

Articles of Incorporation

Question 5

Freely Transferable trade of stock

Accepted Answer

Corporation

Question 6

The market that consists of customers who buy products for their own use.

Accepted Answer

Customer Market

Question 7

Is an organization that exists to serve some public purpose. Money is used to support a cause.

Accepted Answer

Not-for-profit Organization

Question 8

Customers who buy clothes, cars, gift and toys are in what kind of market?

Accepted Answer

Consumer Market

Question 9

This market includes national, state and local governmental offices and agencies.

Accepted Answer

Government Market

Question 10

A group of businesses that produce the same type of goods and services.

Accepted Answer

Industry

Question 11

Earns profit by providing customers with services that meet their needs and wants.

Accepted Answer

Service Business

Question 12

The name should not include LLC as part of its name.

Accepted Answer

False

Question 13

For an LLC, the name cannot be the same as an LLC that already exists in the state.

Accepted Answer

True

Question 14

Purchases large quantities products directly from producers and sells the product to retailers.

Accepted Answer

Wholesaler

Question 15

People and businesses that sell the goods and services from producers to customers

Accepted Answer

Intermediaries

Question 16

Which of these is not part of the private sector?

Accepted Answer

Girls Scouts of the US

Question 17

Means legal responsibility

Accepted Answer

Liability

Question 18

All shareholders must be US citizens or residents in what type of business ownership?

Accepted Answer

S-Corporation

Question 19

The National Classification System (NAICS) was developed by 3 countries, which one is not one?

Accepted Answer

Alaska

Question 20

Governmental Organizations are part of what kind of sector?

Accepted Answer

Public Sector

Question 21

All business decisions are the owner

Accepted Answer

Sole-Proprietorship

Question 22

Business that provide goods and services are part of what sector?

Accepted Answer

Private Sector

Question 23

What does it mean when a Corporation is a private corporation?

Accepted Answer

Stock ownership is privately,don't sell stocks to the public

Question 24

Is an individual or group who buys products.

Accepted Answer

Customer

Question 25

Consist of customers who buy products for use in a business?

Accepted Answer

Business Market

Question 26

Are restricted to no more than 100 shareholders

Accepted Answer

S-Corporation

Question 27

Pass -Through Taxation

Accepted Answer

LLC

Question 28

What does LLC stand for?

Accepted Answer

Limited Liability Company

Question 29

Are businesses or people that take natural resources from the land to sell to manufacturers.

Accepted Answer

Extractors

Question 30

Is a numeric system used to classify businesses and collect economic statistics.

Accepted Answer

North American Industry Classification System

Question 31

Another name for stockholder...

Accepted Answer

Shareholder

Question 32

A Corporation of S-Corporation can raise large sums of capital by selling?

Accepted Answer

Stock

Question 33

Businesses that sell primarily to other businesses are in what kind of market?

Accepted Answer

Business to Business (B2B)

Question 34

Are businesses that use supplies from other producers to make products.

Accepted Answer

Manufacturers

Question 35

Businesses in the private sector can be divided into 3 categories, which is not one of them?

Accepted Answer

Consumer Market

Question 36

Businesses that buy products from wholesalers or producers to sell them to consumers.

Accepted Answer

Retailers

Question 37

A portion of the corporation’s earnings distributed to stockholders.

Accepted Answer

Dividends

Question 38

Limited Life Span

Accepted Answer

Partnership

Question 39

Double Taxation

Accepted Answer

Corporation

Question 40

You make a mistake on taxes, you are out!!

Accepted Answer

S-Corporation

Question 41

Is an organization that generates revenue, purpose is to generate money for its owner.

Accepted Answer

For-profit organization

Question 42

Also called the articles of partnership, is a written contract that establishes a?

Accepted Answer

Partnership

Question 43

Is a business that is owned and often operated by a single individual?

Accepted Answer

Sole-Proprietorship

Question 44

Red Cross is part of what kind of sector?

Accepted Answer

Public Sector

Question 45

the law recognizes a corporation as a separate ______________ that can act on its own behalf.

Accepted Answer

Legal entity

Question 46

Is a group of individuals who make high-level management decisions for the business.

Accepted Answer

Board of Directors

Question 47

Are businesses that create goods and services.

Accepted Answer

Producers

Question 48

If a person is optimistic and believes that stocks will go up, he or she its called a?

Accepted Answer

Bull

Question 49

Greater Government Regulations

Accepted Answer

Corporation

Question 50

When the economy is bad and stock prices are falling. What is this called in the stock market?

Accepted Answer

Bear

Question 51

Is a well known example of a place where you can buy stocks

Accepted Answer

The New York Stock Exchange

Business in the Private Sector/Business Organizations

Questions 51

Business in the Private Sector/Business Organizations

Questions 51