Business Ownership and Functions

The difference between small business and entrepreneurship has nearly nothing to do with size, and nearly everything to do with: A innovation and/or details B balance sheet and/or cash flow statement C human resource policy manual and/or bank loans D roadmap and/or pitch deck

• innovation and/or details

• balance sheet and/or cash flow statement

• human resource policy manual and/or bank loans

• roadmap and/or pitch deck

A Business Plan might also be called a characteristics competition A balance sheets B technology C resourcing D harvesting

• characteristics

• competition

• balance sheets

• technology

• resourcing

Trends affecting the business world most rapidly, relate to: A balance sheets B technology C resourcing D harvesting

• balance sheets

• technology

• resourcing

• harvesting

McDonalds and Subway are examples of a A E-Commerce B Multilevel Marketing C Franchise D Direct Sales business model.

• E-Commerce

• Multilevel Marketing

• Franchise

• Direct Sales

Disadvantages of Corporations as a form of business ownership include: A less regulation B limited capital C double taxation D limited liability

• less regulation

• limited capital

• double taxation

• limited liability

This type of business ownership can sell unlimited shares of stock to the general public, which typically makes raising capital easier than for other types of businesses. A General Partnership B C Corp C Private Corporation D S Corp

• General Partnership

• C Corp

• Private Corporation

• S Corp

Advantages of Corporations as a form of business ownership include: A less regulation B limited capital C double taxation D limited liability

• less regulation

• limited capital

• double taxation

• limited liability

This type of business ownership allows the company to operate using someone else's brand name, training program, systems and processes, and operational guidelines, by paying an up-front fee and on-going royalty. A Joint Venture B Licensing C business Format Franchise D Product Trade Name Franchise

• Joint Venture

• Licensing

• business Format Franchise

• Product Trade Name Franchise

Advantages of Sole Proprietorships as a form of business ownership include: A double taxation B limited capital C quick decision making control D limited liability

• double taxation

• limited capital

• quick decision making control

• limited liability

When two companies (often competitors) join together to form one business entity, it is called a: A acquisition B Limited Partnership C merger D General Partnership

• acquisition

• Limited Partnership

• merger

• General Partnership