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Exam 8: Forms of Business Ownership

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Question 51

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Which forms of business ownership have to deal with the disadvantage of unlimited liability?

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sole propr...

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Question 52

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The headquarters, seller, and supplier of the service or method of operation of a franchise is called which of the following?

A) franchisor
B) contractee
C) direct seller
D) franchisee

E) None of the above
F) A) and D)

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Question 53

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Who are the owners of a corporation?

Discuss the following statement: "Joint ventures have unlimited life."

Miniature Precision Corporation, a microprocessor manufacturer, recently acquired Cameron-Price, a plastics mould manufacturer. Miniature Precision financed the transaction with 90 percent borrowed money and used Cameron-Price's assets as collateral. What is this type of merger commonly known as?

List the two basic types of partnership.

List the three major types of mergers.

When companies in the same industry merge to achieve economies of scale and to expand their product lines, it is called a horizontal merger.

What is the first step in incorporating a company?

What is one of the biggest concerns for the original owners when a company goes public?

Karl Metzger plans to invest $5,000 in a partnership with his brother to produce and sell handcrafted violins, zithers, and other string instruments. Metzger does not plan to work in the business and wants no more liability than his investment. What should he be?

AT&T and British Telecom, two of the largest communications companies in the world, allied to create a company called Concerts to investigate the profitability of providing telecommunications services for multinational companies. Concerts is an example of which of the following?

What is a business that is established, owned, operated, and often financed by one person?

A corporation's earnings are taxed as corporate earnings and as dividends to the shareholders. What is this known as?

Discuss the following statement: "The franchisee has just as much control over his or her business as the sole proprietor."

Restricted operating freedom in franchising means that the franchisee must conform to which of the following?

How is a corporation's board of directors formed?

Corporations that are owned by either the federal or provincial government are called king corporations.

Isadore Alfonse is considering the purchase of a Bonus Building Care franchise. Alfonse is NOT likely to get assistance from the commercial cleaning franchisor in which of the following areas?

Pete Yankin and Ken Lowery established a company that markets fishing expeditions. Yankin and Lowery share responsibilities for booking the trips, gathering supplies, and guiding groups into locations where they can fish for salmon. Since the two share any profit equally, what sort of business do they have?