POB Review 5: Question Preview (ID: 25875)


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Todd decided to form a corporation instead of a sole proprietorship because of which ADVANTAGE listed below?
a) Limited liability b) Potential of unlimited life. c) Control of decisions. d) Single taxation
Chun purchased 150 shares of stock in the Panasonic Company. How many votes will she have at the next stockholder’s meeting?
a) None b) 150 c) 1 d) 75
Both Bob and Jeri contributed to the expansion of their business to sell more brands of tires. They both experienced which ADVANTAGE of a partnership over a sole proprietorship?
a) Potential of unlimited life. b) Ease of formation c) More capital available d) Control of decisions.
Carlos ignores minor decisions in his business even though his name is on the sign as one of the owners. This is an example of what type of business ownership?
a) Partnership b) Corporation c) Sole Proprietorship d) Franchise
Mary owns stock for several companies, which she plans to pass ownership to her grandchildren. She chose this form of ownership over sole proprietorship because of the ADVANTAGE of:
a) More capital available b) Control of decisions c) Franchise d) Potential of unlimited life.
Several small businesses that sell organic foods have joined together to increase their chances to pay lower prices for inventory. This is an example of what type of business?
a) Cooperative b) Corporation c) Collaborative d) Kaleidoscope
Since Jane’s corporation has become so popular, she has decided to allow other businesses to sell her products. This is an example of what type of business?
a) Partnership b) Franchise c) Corporation d) Sole Proprietorship
Tami wants to invest money in shares of stock. She would have to pay taxes on her earnings twice. Which is an ADVANTAGE of a sole proprietorship over a corporation?
a) Unlimited Liability b) Ease of Formation c) Single Taxation d) Awkward Silences
Tami prefers working alone in her auto body shop and being in control of the daily activities. This type of business ownership ADVANTAGE over corporation is:
a) Control of decisions b) Limited liability c) Potential of unlimited life. d) More capital available
Even though a company may sell shares of stock, it relies on a central body of people for financial directions. This is an example of what type of business?
a) Partnership b) Corporation c) Sole Proprietorship d) Franchise
Hank has ownership, even without liability over his initial investment, along with George for a local business. This is an example of what type of business ownership?
a) Partnership b) Sole Proprietorship c) Corporation d) Franchise
Tami opened an auto body shop after repairing a couple of cars to the high satisfaction of customers. She has experienced which ADVANTAGE over a corporation?
a) Single Taxation b) Limited Liability c) Control Over Decisions d) Ease of formation
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