ENTREP U2 T1

Which of the following may be considered an activity that falls under the corporate social responsibility of a lumber company?

• Cash donations towards reforestation

• Supporting company fun-day celebrations

• Increasing workers‟ salaries and wages

• Spearheading the growth of the company

When an existing company grants a license to another company to operate using the former's name and design to provide the same service, the arrangement is called

• a franchise

• a partnership

• an undertaking

• limited liability

Which of the following contains guidelines for regulating process and service standards irrespective of the type of business?

• COSSH

• ISO standards

• Employee Handbook

• Economic Partnership Agreement

Which of the following organizations would MOST likely provide financial and technical assistance to implement a business idea?

• IPO

• Banks

• Angel Investors

• Business Development Agencies

Timothy is seeking direction in deciding the BEST way to organize his entrepreneurial venture. His first decision is to determine the form of legal ownership. Which of the following aspects of the venture has direct bearing on legal ownership?

• Growth

• Liability

• Taxation

• Profitability

Hawa is the owner of a female hair-styling salon. Pasha is an entrepreneur managing his own barber shop. Due to individual challenges they are facing, the two have decided to merge their businesses to take advantage of their individual expertise. Which of the following forms of business would be MOST suitable for the new venture?

• Franchise

• Partnership

• Corporation

• NGO

Max is a professional accountant who has decided to go into the preparation of fast food for sale. His business adviser has told him to purchase yellow cones to be placed on wet floors in the restaurant. Which of the following regulations covers this advice?

• Tax and profits

• Employment law

• Registration of business

• Occupational health and safety

Which of the following types of business has unlimited life and allows for the easy transferability of ownership interest?

• Partnership

• Corporation

• Sole proprietorship

• No Limited liability partnership

A Caribbean government recently asked an airline to obtain a license before operating in that territory. This means the airline was being asked to satisfy

• a social obligation

• a legal requirement

• an ethical obligation

• a corporate social responsibility

The Corporate Charter is BEST described as the

• basic legal declaration contained in the bylaws

• legal document that establishes the corporation

• set of rules and procedures established to govern the daily operations of the corporation

• document that governs the relationship between the workers of the corporation and management