What is the main goal of a cooperative?

to offer its members low cost goods & services.

How are shareholders connected to a corporation?

They select the board of directors.

What is the role of silent partners in a limited partnership?

They contribute capital, not involved in operations

studbud

Economics Chapter 9 Entrepreneurs and Business Organizations

17 termsStudBud Administration415 plays

Imported from external platform

Flashcards17 cardsFPractice quizPHost liveL

Questions 17

Answers

1
Who does the CEO take direction from?
Ms. Pasola
The Board of Directors.
His or Her spouse.
The President.
2
Which kind of nonprofit organizations set standards of ethics for a professional field?
environmental organizations
professional organizations
mental health organizations
educational organizations
3
Which year is the turning point for businesses, when their odds for survival begins to improve?
3 years
1 year
7 years
5 years
4
Venture capitalists invest in new businesses in exchange for
interest payments.
broad publicity.
ownership shares.
management jobs.
5
In which kind of organizations do most nonprofit employees work?
Food Service
Education
Health care
Entertainment
6
To expand their business, sole proprietorships most often depend on money from
reinvesting their profits
soliciting charitable donations
applying for grants
selling stock
7
Which form of business organization is most common?
business franchise
partnership
corporation
sole proprietorship
8
What is the main goal of a cooperative?
to offer its members low cost goods & services.
to expand by receiving royalties from its members.
to earn its members a profit on investment.
to provide guaranteed employment for its members.
9
Foundations and land trusts are examples of
nonprofit organizations.
trade associations.
cooperatives.
franchises.
10
How are shareholders connected to a corporation?
They select the board of directors.
They select the grade you get in Economics.
They select the managers.
They select the flavor of ice cream.
11
Which group of workers is not considered part of middle management?
laborers
supervisors
managers
department heads
12
Which of these is a disadvantage of turning a partnership into a corporation?
expanded liability
loss of control
less management skill
continuity issues
13
Which statement is true of all entrepreneurs?
They work short hours.
They earn a profit.
They hire employees.
They take a risk.
14
What is the role of silent partners in a limited partnership?
They work for the company but do not make any investment
They take an active role in operations & limited liability
They have unlimited liability but no voice in decisions
They contribute capital, not involved in operations
15
The structure of a corporation can best be described as a
sphere.
pyramid.
prism.
cube.
16
One advantage of a partnership over a sole proprietorship is that a partnership
faces less regulation
has easier decision making
can get credit more easily
avoids double taxation
17
The board of directors of a corporation is selected by and accountable to the
shareholders
chief executive officer.
founding entrepreneur.
stakeholders

Economics Chapter 9 Entrepreneurs and Business Organizations Flashcards | StudBud