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WorksheetsChapter 33 Review
Total questions: 18
Worksheet time: 13mins
Two-thirds of all businesses fail within the first two or three years of operation.
True
False
Jason goes to high school and needs to earn extra money on the weekends, so he started an auto-detail service. He is an entrepreneur.
True
False
A foreign corporation is a business organization that has incorporated in a country other than the one in which it does business.
True
False
A person who purchases a franchise does not control how the business will be advertised and managed.
True
False
Strong organizational skills and a spirit of adventure are two of the personal characteristics of entrepreneurs like Henry Ford.
True
False
Which of the following is NOT one of the forms of business organization?
sole proprietorship
corporation
limited liability
franchise
What form of business ownership is subject to the least taxation and government regulation?
sole proporietorship
family-owned business
limited partnership
Subchapter S corporation
What method of entering business carries a high purchase price and high initial fees?
corporation
partnership
Subchapter S corporation
franchise
What form of business organization can own assets and borrow money without directly involving the people who own it and, therefore, is closely regulated by the government?
corporation
family-owned business
sole proprietorship
general partnership
What form of business has the greatest disadvantage if one of its owners dies?
corporation
partnership
Subchapter S corporation
franchise
A business that is chartered by the state is called a(n) (a) .
At least one (a) partner has unlimited liability in a limited partnership.
The legal term describing the owner of a franchise business operation is (a) .
(a) is the registration by which a county government recognizes the existence of a new sole proprietorship or partnership.
(a) , friends, and businesspeople can be good sources of research when making a decision to become an entrepreneur.
Moses is a stockholder in an automobile manufacturing corporation. If the company should experience large financial losses, Moses would have (a) liability.
An award-winning online library of management information is the (a) . *Hint, each state has this, and you conducted research on it.)
A business chartered under the laws of a state that is not the state in which it does business is a (a) corporation.
