Business Principles: Chapter 4

Compared to other forms of business ownership, sole proprietorships have the greatest degree of secrecy.

Sole proprietorships typically employ less than 50 people.

Which of the following is an advantage of a sole proprietorship?

Which of the following is an advantage of a sole proprietorship?

According to the U.S. Bureau of the Census, which form of business ownership is the least used in the U.S.?

The income earned in sole proprietorship is:

Which of the following is a disadvantage of sole proprietorship?

Which characteristic of a sole proprietorship can be considered both an advantage and a disadvantage?

When are limited partnerships generally used?

The legal documents that identify the basic agreements between partners are called:

The decision-making process in a partnership tends to be faster when:

Which of the following is not a disadvantage of forming a partnership?

Which of the following is an advantage of a partnership?

Which of the following statements is true of taxation in partnership?

___ are profits of a corporation that are distributed in the form of cash payments to stockholders.

__ is a legal document that the state issues to a company based on information the company provides in the articles of incorporation.

A corporation doing business outside the state in which it is chartered is known as a(n) ___ corporation.

A private corporation is one:

Which of the following is a corporation that provides a service, but does not focus on earning profits, nor is it owned by the government?

A(n) __ is elected by the stockholders of a corporation to oversee its general operation and set long-term objectives.

Which of the following statements is true of preferred stockholders?

A written authorization that assigns a stockholder's voting privilege to another is called a:

Which of the following statements is true of joint ventures?

Which of the following forms of business organizations restricts the number and types of shareholders and is difficult to form and operate?

Which of the following forms of business ownership provides limited liability, but is taxed like a partnership?