Introduction to Business

Publicly traded company
Governed by Board of Directors
CEO, COO, CFO
Stocks sold to raise capital

• Corporation

• Limited Liability Company

• Partnership

• Cooperative

Someone who is self-employed and runs their own business is likely to be a ...

• Partnership

• Sole trader

• Limited company

• Public limited company

According to figure 8.1, the type of organization with the most sales in the United States is?

• Corporations

• Partnerships

• Sole Proprietorships

• Franchises

What is the primary goal of a business in a capitalist economy?

• To maximize profits

• To provide public services

• To minimize costs

• To support charities

Which of the following is a characteristic of a sole proprietorship?

• Limited liability

• Owned by one person

• Shares traded on stock exchange

• Governed by a board

What is a key advantage of a partnership over a sole proprietorship?

• Limited liability

• Easier to raise capital

• More government control

• Unlimited liability

Which business structure is specifically designed to protect owners from personal liability?

• Sole proprietorship

• Partnership

• Corporation

• Non-profit

What is the role of a Chief Financial Officer (CFO) in a company?

• Oversee marketing strategies

• Manage financial risks

• Lead product development

• Handle customer relations

Which of the following is a primary function of human resources in a business?

• Product development

• Financial planning

• Employee recruitment

• Market analysis

What is a common method businesses use to raise capital?

• Issuing bonds

• Increasing product prices

• Reducing workforce

• Cutting production costs