
Business Semester Test Flash Cards
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12th Grade
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Aspen Farmer
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47 questions
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1.
FLASHCARD QUESTION
Front
What is the simplest form of business ownership?
Back
Sole proprietorship
2.
FLASHCARD QUESTION
Front
Who primarily owns a corporation?
Back
Stockholders
3.
FLASHCARD QUESTION
Front
What is a disadvantage of a partnership? Options: Limited liability, Shared decision-making, Unlimited liability, Ease of start-up
Back
Unlimited liability
4.
FLASHCARD QUESTION
Front
What type of business structure combines the limited liability of a corporation with the tax benefits of a partnership?
Back
Limited liability company (LLC)
5.
FLASHCARD QUESTION
Front
Which of the following businesses is owned and operated by members for their mutual benefit? Corporation, Partnership, Franchise, Cooperative
Back
Cooperative
6.
FLASHCARD QUESTION
Front
Which of the following is NOT part of the marketing mix? Price, Product, Promotion, Production
Back
Production
7.
FLASHCARD QUESTION
Front
A company that markets a luxury car would likely emphasize which element of the marketing mix?
Back
High product quality
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