General Business Chapter 6 Question Preview (ID: 33962)


Business Structures. TEACHERS: click here for quick copy question ID numbers.

A partnership is owned by two or more people who own shares of stock in the company.
a) True
b) False
c)
d)

Municipal means
a) Local
b) Town
c) State
d)

The form of business that represents two-thirds of U.S. businesses is the
a) Partnership
b) Sole Proprietorship
c) Corporation
d)

Directing people so that their work is performed correctly and on time is called
a) Directing
b) Organizing
c) Leading
d) Controlling

A business owned by a number of people and operated under written permission
a) Corporation
b) Corporate
c) Business
d) Partnership

Comparing what actually happened to what is planned is part of
a) Planning
b) Organizing
c) Leading
d) Controlling

The written permission that allows a corporation to organize is called a
a) Certificate of Business
b) Certificate of Incorporation
c) Contract
d) Piece of paper

The part of the profits that are paid to shareholders is called
a) Stock
b) Money
c) Dunno
d) Dividend

The three types of business include a sole proprietorship, partnership, and corporation.
a) False
b) True
c)
d)

Which of the following is NOT one of the five activities of business managers?
a) Planning
b) Purchasing
c) Controlling
d) Staffing

People who become part owners of a corporation are called
a) Corporation
b) Sole Proprietors
c) Shareholders
d) Business peeps

A business owned by its members that is managed in the owners’ interests is called a cooperative.
a) True
b) False
c)
d)

Franchises can be operated only as sole proprietorships or partnerships.
a) True
b) False
c)
d)

Determining what work has to be done and who is to do it is called organizing.
a) True
b) False
c)
d)

All business managers have to plan, control, lead, staff, and organize to be successful.
a) True
b) False
c)
d)

A corporation is a legal entity and has a life separate from its owners.
a) True
b) False
c)
d)

A sole proprietorship can be owned by more than one person
a) True
b) False
c)
d)

Gathering and analyzing information, and then making decisions about all phases of the business, is called organizing
a) True
b) False
c)
d)

The person or group who receives a franchise is called the franchisee.
a) True
b) False
c)
d)

A business owned by its members that is managed in the owners’ interests is called a cooperative.
a) True
b) False
c)
d)

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