Home / Questions / Neighborhood florist shops, restaurants, and travel agencies are most likely organized as

Neighborhood florist shops, restaurants, and travel agencies are most likely organized as

 Neighborhood florist shops, restaurants, and travel agencies are most likely organized as

a. labor unions

b. corporations

c. partnerships

d. sole proprietorships

e. stock markets

77.              What type of business is most likely to be run as a family business?

a. multinational

b. corporation

c. partnership

d. mutual fund

e. sole proprietorship

78.              Unlimited liability means

a. a firm is always liable for damages when it is at fault

b. if a firm is sued, it has enough insurance to pay the damages

c. the owners are personally liable for all the debts of the firm

d. a corporation is not held liable for the stockholders’ errors

e. a sole proprietor’s own net worth cannot be used to pay debts

79.              What characteristic is shared by both sole proprietorships and partnerships?

a. They both tend to be large businesses.

b. They both face unlimited liability.

c. They both have just one owner.

d. They both face limited liability.

e. They both have just two owners.

80.              When compared to a sole proprietorship, a disadvantage of the partnership form of
                            business organization is that there

a. is reduced access to capital resources

b. is limited liability

c. is shared liability with each partner for all the firm’s debts

d. can only be two partners

e. are fewer opportunities to expand output

81.              In a partnership, decisions made and liabilities incurred are

a. usually incorrect

b. the same as in a sole proprietorship

c. the same as in a corporation

d. always equally shared by all partners

e. joint

82.              A firm owned by two or more persons who each bear the responsibilities and unlimited
                            liabilities of the firm is a(n)

a. corporation

b. sole proprietorship

c. organization that is disallowed under current IRS rules

d. partnership

e. multinational

83.              A firm that exists as a separate legal being is

a. a sole proprietorship

b. a corporation

c. a partnership

d. likely to be a small, family-run business

e. still dependent on its owners in many ways

84.              The owners of a corporation are

a. stockholders

b. managers

c. sole proprietors

d. partners

e. at risk of bankruptcy if the firm makes losses

85.              The first step in forming a corporation is to

a. find a large number of partners

b. take out a business loan

c. obtain a charter from the state government

d. hire more staff

e. pay dividends to stockholders

Dec 09 2019 Read more Less More

Answer (UnSolved)

question Get solution

Recent Questions

Chat Now

Welcome to Live Chat

Welcome to MyCourseHelp Services, World's leading Academic solutions provider with Millions of Happy Students.

Please fill in the form