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WorksheetsPBMF Chapter 5 Review
Total questions: 15
Worksheet time: 5mins
The form of ownership most common among U.S. businesses is a
nonprofit
partnership
proprietorship
corporation
The direction for a business comes from its
policy manual
mission statement
code of ethics
corporate by laws
Which of the following is not shown on an organizational chart?
classifications of jobs
work relationships
job descriptions
the structure of an organization
A partnership
is the most common form of business owernship
is funded through the sale of stock
does not require a business name
requires at least two owners
A retailer is an example of a(n)
intermediary
producer
extractor
service business
Which of the following is not one of the common activities of all businesses?
producing goods and services
employing and training personnel
marketing goods and services
maintaining business records
The most important role in business is to provide employment for people
TRUE
FALSE
Managed by a board of directors
partnership
corporation
sole proprietorship
partnership & corporation
There is no difference between policies and procedures
TRUE
FALSE
Service businesses represent the fastest-growing segment of the economy.
TRUE
FALSE
Nonprofit corporations do not pay corporate income taxes
TRUE
FALSE
a written contract granting permission to operate a business
intermediary
procedures
franchise
cooperative
An internet service provider is this type of business
intermediary
franchise
service business
partnership
A goal is a precise statement of results the business expects to achieve
TRUE
FALSE
Mrs. Ware wants to have three rooms in her home painted. She buys Glidden brand Paint from Home Depot. She then pays painters to paint the rooms. What type of business is the Glidden the paint brand?
intermediary
cooperative
producer
service business
