Business Management - Chapters 10 & 11

Front

Most businesses start with several owners.

Back

False

Front

A "quasi-public corporation" is operated only by state governments.

Back

False

Front

Typical entrepreneurs give up quickly when they are not immediately successful.

Back

False

Front

A limited liability corporation is taxed as if it were a sole distributorship or partnership.

Back

True

Front

The legal form of ownership is one of the first decisions that a new owner must make. True or False?

Back

True

Front

A cooperative is owned and operated by user-members for the purpose of supplying themselves with goods and services.

Back

True

Front

As few as two people can form a sole proprietorship.

Back

False

Front

A corporation can make important changes in the purpose of its business without changing its charter.

Back

False

Front

It usually takes less time for decisions to be made in a proprietorship than in other forms of business ownership.

Back

True

Front

The members of the board of directors are elected by stockholders.

Back

True