People often choose to operate home-based firms for all but which one of the following reasons:

• They can choose to work when it suits them

• Zero start-up costs

• Better work-life balance

• Lower overhead costs

Traditionally, small businesses tended to be concentrated in the ________ industry.

• service

• goods-producing

• manufacturing

• forestry

The ________ is most likely an example of publicly ownership.

• trucking company

• television company

• movie theater

• Hospital run by provincial government

Starbucks started doing business in India by forming a __________ with Tata, one of India's leading business groups.

• Horizontal merger

• Joint venture

• Vertical merger

• Subsidiary

The joining of Chemical Bank and Chase Manhattan Bank was an example of a ________.

• conglomerate merger

• horizontal merger

• vertical merger

• joint venture

A Chinese company Geely has bought Volvo. This is an example of :

• Franchising

• Acquisition

• Vertical merger

• Take over

Which is the most business friendly province in Canada?

• Newfoundland

• Ontario

• Alberta

• Nova Scotia

Although ______ are the most common type of business ownership, the greatest revenues come from ______.

• sole proprietorship, partnerships

• partnerships, corporations

• corporations, partnerships

• sole proprietorship, corporations

Sole proprietorships have all of the following advantages EXCEPT ________.

• ease of formation

• unlimited life

• ease of liquidation

• profits subject only to a single tax

The two principal parties in a franchising agreement are the ________.

• manager and worker

• franchiser and partners

• franchiser and franchisee

• venture capitalist and SBA