FUHRMS: Forms Of Businesses II: Question Preview (ID: 20826)


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The most talented potential employees would tend to prefer the job security of working in larger firms. rather than this type.
a) Sole Proprietorship b) Partnership c) Corporation d) Franchise
Easier to raise money and expand.
a) Sole Proprietorship b) Partnership c) Corporation d) Franchise
Fewer regulations to follow but shared profits.
a) Sole Proprietorship b) Partnership c) Corporation d) Franchise
Owner has the maximum degree of control over business decisions.
a) Sole Proprietorship b) Partnership c) Corporation d) Franchise
The owner could lose personal equity if the business fails.
a) Sole Proprietorship b) Partnership c) Corporation d) Franchise
Owner liability is limited to their investment (share) in the corporation
a) Sole Proprietorship b) Partnership c) Corporation d) Franchise
The owner may be a great accountant but only a fair salesperson.
a) Sole Proprietorship b) Partnership c) Corporation d) Franchise
An agreement by two or more persons to carry on, as co-owners, a business for profit.
a) Sole Proprietorship b) Partnership c) Corporation d) Franchise
A business entity formed in compliance with the statutory requirements of its state of incorporation in order to receive a charter.
a) Sole Proprietorship b) Partnership c) Corporation d) Franchise
Someone who initiates and assumes the financial risk of a new enterprise.
a) Sole Proprietorship b) Partnership c) Corporation d) Franchise
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