Business and Labor

Front

The easiest type of business to start is a sole proprietorship.

Back

True

Front

Unlimited liability is one of the main advantages of a sole proprietorship.

Back

False

Front

Partnerships are the most numerous form of business organization in the United States.

Back

False

Front

Corporations have most of the rights of an individual, according to the law.

Back

True

Front

If a corporation goes out of business, common stockholders get their investment back before preferred stockholders do.

Back

False

Front

The government document that grants permission to establish a corporation is called a

Back

charter.

Front

A business run by a single person is a

Back

sole proprietorship.

Front

In a retail business, the stock held in reserve is called

Back

inventory.

Front

Which of the following phrases best defines the term limited partnership? Options: an organization that limits liability to the corporation rather than the individual owners, a partnership in which at least one partner has less responsibility in the business operations and less liability for business losses, a business that is limited to three or fewer investors, a business model that combines aspects of corporations and partnerships

Back

a partnership in which at least one partner has less responsibility in the business operations and less liability for business losses

Front

A document certifying ownership of part of a corporation is a

Back

stock certificate.