Chapter 6 - Types And Functions Of Businesses Question Preview (ID: 39549)


Chapter 6. TEACHERS: click here for quick copy question ID numbers.

Which of the following is a business that is owned and operated by its owners in order to save money on purchasing certain goods and services
a) Franchise
b) Nonprofit organization
c) Cooperative
d) Corporation

True or False: Dividends are income paid out to owners on a share of stock.
a) True
b) False
c)
d)

Which of the following is NOT true of corporations
a) They have limited liability.
b) A board of directors makes decisions
c) Difficult and costly to start.
d) Only taxed once.

Which of the following is NOT an advantage for a sole proprietorship
a) Easy to start(get a license)
b) Can keep all profits for self
c) Limited liability
d) Income is taxed once

Which of the following means buying and selling of goods that have already been produced
a) Production
b) Processing
c) Procurement
d) Management

Which of the follow parts of a business analyzes financial statements to make future decisions?
a) Marketing
b) Management
c) Accounting
d) Finance

Which of the following makes finished goods out of processed goods?
a) Producer
b) Processor
c) Manufacturer
d) Wholesaler

Which type of business gathers materials from natural resources
a) Processors
b) Producers
c) Manufacturers
d) Retailers

Which of the following business are taxed twice?
a) Sole Proprietorship
b) Partnership
c) Corporation
d)

Which department focuses on managing the company's resources effectively?
a) Financing
b) Management
c) Marketing
d) Production

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