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General Business Chapter 6
Test Description: Business Structures
Instructions: Answer all questions to get your test result.
1) A sole proprietorship can be owned by more than one person
A
True
B
False
2) A corporation is a legal entity and has a life separate from its owners.
A
False
B
True
3) All business managers have to plan, control, lead, staff, and organize to be successful.
A
False
B
True
4) Determining what work has to be done and who is to do it is called organizing.
A
False
B
True
5) Franchises can be operated only as sole proprietorships or partnerships.
A
False
B
True
6) A business owned by its members that is managed in the owners’ interests is called a cooperative.
A
True
B
False
7) People who become part owners of a corporation are called
A
Shareholders
B
Business peeps
C
Sole Proprietors
D
Corporation
8) Which of the following is NOT one of the five activities of business managers?
A
Controlling
B
Planning
C
Purchasing
D
Staffing
9) The three types of business include a sole proprietorship, partnership, and corporation.
A
True
B
False
10) The part of the profits that are paid to shareholders is called
A
Dividend
B
Stock
C
Money
D
Dunno
11) The written permission that allows a corporation to organize is called a
A
Piece of paper
B
Contract
C
Certificate of Incorporation
D
Certificate of Business
12) Comparing what actually happened to what is planned is part of
A
Leading
B
Organizing
C
Controlling
D
Planning
13) A business owned by a number of people and operated under written permission
A
Corporate
B
Business
C
Corporation
D
Partnership
14) Directing people so that their work is performed correctly and on time is called
A
Organizing
B
Directing
C
Controlling
D
Leading
15) Municipal means
A
Town
B
Local
C
State
16) The form of business that represents two-thirds of U.S. businesses is the
A
Sole Proprietorship
B
Corporation
C
Partnership
17) A partnership is owned by two or more people who own shares of stock in the company.
A
True
B
False
18) Gathering and analyzing information, and then making decisions about all phases of the business, is called organizing
A
False
B
True
19) The person or group who receives a franchise is called the franchisee.
A
False
B
True
20) A business owned by its members that is managed in the owners’ interests is called a cooperative.
A
False
B
True
*select an answer for all questions
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