Ch. 6 - Business Structures (BT21)

The form of business that represents two-thirds of U.S. businesses

• corporation.

• partnership

• sole proprietorship

• cooperative

A business that is based on a written agreement about how to manage it and how to share profits

• corporation

• partnership

• sole proprietorship

• cooperative

The business that requires written permission from the state and can have many owners

• corporation

• partnership

• sole proprietorship

• cooperative

People who become part owners of a corporation are called

• partners

• special owners

• shareholders

• cooperative owners

Which of the following is NOT one of the five activities of business managers?

• planning

• purchasing

• controlling

• staffing

Performing the management activities of planning includes

• coming up with strategies to meet goals

• influencing people

• staffing the business

• developing organization charts

Assigning jobs to workers and giving authority to certain people is a managing activity called

• planning

• controlling

• leading

• organizing

The part of the profits that are paid to shareholders is called

• excess profit

• a surplus

• a dividend

• a return on investment

The parent company of a franchise business is known as the

• franchisee

• franchisor

• corporate

• franchise

Which of the following is NOT true about a non-profit corporation?

• It can be organized to serve citizens

• It has no shareholders

• Examples are school clubs, colleges, & service organizations

• They can keep their profits