Chapter 19 Review Game

What is the standard number of hours one must work in a week to earn overtime pay or "time and a half?"

• 30

• 36

• 40

• 44

What type of business make up the largest number of businesses in America?

• Sole proprietorships

• Partnerships

• Corporations

• Franchises

What is NOT true of franchises?

• You pay a fee to a parent company for the right to sell or make a product.

• You must maintain standards set by the parent company of the franchise.

• You have total control over your company when you buy into a franchise.

• Franchises are most popular and common in the restaurant industry.

What type of businesses make MOST of the profits or money in the American economy?

• Sole propriertorships

• Nonprofit organizations

• Corporations

• Partnerships

What type of partnership exists when all of the partners in the business break up responsibilities and powers as evenly as possible?

• General partnership

• Limited partnership

What document does the government give to a business giving them permission to operate as a corporation?

• Charter

• Stock

• Franchise

What best describes a silent partnership?

• A business where all of the workers own and operate the business.

• A business where one partner does not actually work in or provide labor for the business but simply provides cash for the operations of the business.

• A business where all partners split powers and responsibilities as evenly as possible.

What group of people are not the "owners" of a corporation but are selected to make broad key decisions for a corporation?

• Shareholders

• CEO

• Board of Directors

What does CEO stand for?

• Chief Entertainment Official

• Chief Executive Officer

• Corporate Executive Officer

What type of business would be organized in a way that if profits are made they do not go to an "owner" but are either put back into the business or are put into the community?

• Franchise

• Nonprofit organization

• Cooperative