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Worksheets

Corporations

Total questions: 20

Worksheet time: 20mins

Name
Class
Date
1.
Shareholders manage the corporation indirectly through the board of directors that they elect. 
a)
True 
b)
False 
2.
The board of directors decides on the company's policies and selects officers such as CEO, CFO, Treasurer, and etc. 
a)
True
b)
False
3.
This type of business is owned by many people called stockholders.
a)
Sole Proprietorship
b)
Partnership
c)
Corporation
d)
Franchise
4.
Nike, Google and Apple are examples of.....
a)
Sole Proprietorships
b)
Partnerships
c)

Multinational Corporations

d)
Franchises
5.

Dividends are_____?

a)

Money shareholders lose in stock.

b)

Money shareholders pay to buy stock.

c)

Stock that splits.

d)

Money shareholders received from stock profits.

6.
Stocks represent ownership in a corporation.
a)
TRUE
b)
FALSE
7.

An owner of stock in a company or corporation.

a)
stock market
b)
shareholder
c)
portfolio
d)
industry
8.

________ is an intangible legal entity that can buy property, earn money, manufacture products, and pay taxes.

a)

Limited Liability Company

b)

Limited Liability Partnership

c)

Corporation

d)

Sole Proprietorship

9.

______________ is one who invests money, but is not involved in the business’ daily operations.

a)

Sole Proprietor

b)

Silent Partner

c)

Corporation

d)

Limited Liability Partnership

10.

______ is the legal responsibility in business.

a)

Laws

b)

Liability

c)

Silent Partner

d)

Limited Liability Company

11.

One advantage of a corporation is______.

a)

unlimited liability

b)

limited liability

c)

double taxation

d)

strict government regulations

12.

Which type of corporation has "pass through" taxation, whereby taxes are paid through personal tax returns?

a)

A-Corp

b)

C-Corp

c)

K-Corp

d)

S-Corp

13.

Corporations account for about ___% of all business, but bring in about ___% of all revenue.

a)

80, 20

b)

10, 90

c)

20, 80

d)

50, 50

14.

What is a CEO?

a)

Committed Everything Organization

b)

Chief Executive Officer

c)

Colorful Energy Opportunity

d)

Captain Effort Operative

15.

Which type of corporation issues stock that can be freely bought and sold?

a)

Public

b)

Private

c)

Unavailable

d)

Capital

16.

Which is a list of advantages of a corporation?

a)

Easy to attract capital

Easy to attract skilled labor

Limited liability

Company can exist when ownership changes

b)

Expensive

Require a lot of time

Many moving parts can be hard to manage

Have to deal with shareholders and the government

17.

True or False: Individuals working at a corporation cannot be sued for the actions of the a corporation. Only the corporation can be sued. Workers have limited liability at a corporation. 

a)

True

b)

False

18.

Which type of corporation issues stock that can be freely bought and sold?

a)

Public

b)

Private

c)

Unavailable

d)

Capital

19.

The basic type of stock carrying the right to vote per share owned is

a)

common stock

b)

preferred stock

c)

stock dividends

d)

implied stock

20.
When a business decides to incorporate they have to secure a _________ from the state government, establishing the existence of that new and separate legal entity.
a)
Birth certificate
b)
Loan
c)
Charter