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Copyright and business Types B&M Flashcards | StudBud
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Copyright and business Types B&M
Copyright and business Types B&M
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Business Basics Test Review
Flashcards
39 cards
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Questions
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Answers
1
What is a disadvantage to an LLC
you must pay out dividends
there is a cap on the amount of stockholders you can have
Strict government regulations
Unlimited Liability
2
which of the following is a natural resource?
Diamond
Rough Diamond
Diamond cutter
Diamond miner
3
What is a disadvantage to a franchise?
unlimited liability
Slow start up
Loss of longevity
expensive startup costs
4
What is an advantage to a corporation?
You have complete control
You answer to yourself
You get all of the profits
Founders have limited liability
5
What is a disadvantage to a partnership?
Limited Liability
Difference of opinion
Double taxed
Shareholders could sell
6
What is an LLC?
When you have stockholders
When you have one owner of a company
When you have multiple owners of a company
When you have multiple owners of a company and stockholders
7
in order to get a patent
You have to prove that your invention works
you have to get it trademarked
you have to formally get it copyrighted
you must have a prototype of the invention
8
Copyrighted materials can only
with the authors permission
if it is for educational purposes
you use a small portion
if the author is dead for more than 70 years
9
If you have an LLC...
You cannot have stock options
You pay double the taxes
Your business and your personal assets are the same.
You can have a sole owner
10
When demand is low and supply is low, what happens to price
price decreases
price increases
price stays the same
11
What is a disadvantage to a corporation?
Unlimited Liability
Lack of longevity
stockholders make all the deicisions
Double taxed
12
which of the following is a good?
dentist
building
teacher
apple
13
An advantage to a sole proprietor is
You can split the profits
Easy to obtain startup costs
You can get stockholders to help with your financing
You are not taxed as much
14
What is the capital resource?
water
helicopter
surfer
surfboard
15
When demand is high and supply is high, what happens to price?
Price increases
Price Decreases
Price stays the same
16
When demand is high, but supply is low, what happens to price?
Price increases
Price decreases
Price stays the same
17
When demand is low but supply is high, what happens to price?
price decreases
price increases
price stays the same
18
What can be protected by copyright?
a drawing by a 3 year old
a logo
an invention
a trademark
19
A disadvantage to a sole proprietor is
Strict government requirements
Different of opinion with other owners
Taxed double
Unlimited liability
20
copyright law protects the rights of
inventors
The authors of creative works
manufacturers of copyright machines
the US government
21
What is a trademark?
an invention that has been protected
a logo that proves you are the best in the market
A pretty picture
a sign or symbol that identifies your product or company
22
Which of the following is a human resource?
Diamond Miner
Diamond cutter
Rough Diamond
Diamond
23
Which of the following is a capital resource?
Diamond Miner
Rough Diamond
Diamond
Diamond Cutter
24
An example of copyright infringement would be
using an entire painting for education
taking lyrics from Beyonce
re-creating an invention
using a portion of it for your paper and citing
25
What is an advantage to an LLC
limited liability
Sole decision maker
You get all the capital
not double taxed
26
If you are a sole proprietor
You are taxed double
Your personal assets are not protected
Your personal assets are protected
It is easy to get a loan.
27
Who is the entrepreneur
The manager of McDonalds
The cashier at McDonalds
The owner of McDonalds
The chef at McDonalds
28
An advantage to a partnership is
You get to run the entire business
You get all of the money
You get to have stock holders
You have job specialization
29
US government work cannot be copyrighted
False
True
30
Corporations are the most common found businesses in America.
False - Partnerships are the most common
False - Franchises are the most common
True
False - Sole Proprietors are the most common
31
You can use copyrighted material as long as
you use 10% or 30 seconds whichever is less
you change the content
it is for educational puposes
you are not making money
32
Copyright laws protect
inventions
all written creative works
only creative works that have the copyright symbol
all original thoughts and ideas
33
What is the human resource?
water
helicopter
surfboard
surfer
34
What cannot be in the public domain
Something that was recently created but deemed public domain
Something that the government created
Something that was created 200 years ago
Something that was created by a 10 year old
35
What is the natural resource?
surfboard
helicopter
surfer
water
36
A logo is something that you can protect with
a trademark
a copyright
a patent
fairuse laws
37
What is an advantage of a Franchise?
You get to provide the training
You have full control
Proven business plan
You receive all the capital
38
A trademark owner has the right to
prevent others from competing under a different name
create an image similar to their competitors
sell their ideas and inventions to others
prevent others from competing under the same name
39
patents are a form of intellectual property
true
false
