Business Essentials II Test

Which of the following is a business owned by two or more persons who share the risks and rewards?

• partnership

• cooperative manufacturer

• sole proprietorship

• retail producer

Which of the following is a license to run a corporation?

• shares of stock

• partnership agreement

• corporate charter

• corporation license

A corporation is controlled by this.

• corporate license

• stocks

• Small Business Administration

• board of directors

The American Red Cross is an example of which type of business?

• sole proprietorship

• partnership

• franchise

• nonprofit organization

Ocean Spray, an organization owned and operated by cranberry growers is an example of this type of organization.

• cooperative

• limited partnership

• corporation

• nonprofit organization

business owned by one person

major advantage of a corporation

business that moves products between businesses or between businesses and the public

a distributor

changes raw materials into more finished products