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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