Worksheets3.1 Buisness Organizations
Total questions: 27
Worksheet time: 14mins
What is a sole proprietorship?
A business owned by a group of people
A business owned and managed by a single individual
A business owned by the government
A business owned by a corporation
What type of businesses are most common in the U.S. today?
Agricultural businesses
Manufacturing businesses
Service-related businesses
Retail businesses
How many categories do partnerships fall into?
Two
Three
Four
Five
In a general partnership, how do partners share responsibility and liability?
One partner has all the responsibility
Partners share equally
Only the manager is responsible
No one is responsible
What is required in a limited partnership?
All partners must be general partners
Only one partner is required to be a general partner
No partners are needed
Two partners must be general partners
What is a newer type of partnership called?
General Partnership
Limited Partnership
Limited Liability Partnership
Unlimited Partnership
What is a corporation?
A type of fruit
A legal entity owned by stockholders
A kind of animal
A type of car
What do stocks represent?
A stockholder’s portion of ownership
A type of food
A kind of music
A type of clothing
What is a publicly held corporation?
A corporation that buys and sells its stock on the open market
A corporation that sells food
A corporation that makes toys
A corporation that builds houses
What are dividends?
Money paid regularly to stockholders
A type of candy
A kind of dance
A type of book
What is a horizontal merger?
Combining firms in different markets
Combining firms in the same market with the same good or service
Combining more than three businesses
Combining firms in different countries
What is a vertical merger?
Combining firms in the same market
Combining firms involved in different stages of producing the same good or service
Combining unrelated businesses
Combining firms in the same country
What is a conglomerate?
A single business making one product
A business combination merging more than three businesses that make unrelated products
A business merging firms in the same market
A business merging firms in different countries
What is one advantage of multinational corporations (MNCs)?
They only sell products in one country.
They spread new technologies worldwide.
They do not influence culture.
They have no subsidiaries.
What is a disadvantage of multinational corporations (MNCs)?
They improve working conditions everywhere.
They do not influence politics.
They may unduly influence culture and politics.
They only operate in their home country.
What do multinational corporations (MNCs) have around the world?
Only one office.
Subsidiaries.
No employees.
Only local products.
What is a business franchise?
A type of car
A semi-independent business that pays fees to a parent company
A kind of fruit
A type of school
What do franchisers develop?
Cars and bikes
Products and business systems
Houses and buildings
Books and magazines
What do franchises allow owners?
A new car
A degree of control and support from the parent company
A free vacation
A pet dog
What is a cooperative?
A type of animal
A business organization owned and operated by a group of individuals for their shared benefit
A kind of fruit
A type of vehicle
What do consumer cooperatives do?
Sell goods at higher prices
Sell goods to their members at reduced prices
Provide free services
Grow vegetables
What type of cooperative provides services rather than goods?
Consumer cooperatives
Service cooperatives
Producer cooperatives
Animal cooperatives
What do producer cooperatives help with?
Selling toys
Selling their products
Building houses
Teaching math
What do professional organizations work to improve?
The image, working conditions, and skill levels of people
The business interests of a city
The interests of particular industries
The hours and wages of workers
What is the main goal of a labor union?
To promote the interests of particular industries
To improve working conditions, hours, wages, and benefits
To improve the image of occupations
To promote business interests of a city
What are trade associations?
Organizations that improve skill levels
Nonprofit organizations that promote the interests of particular industries
Groups that improve working conditions
Associations that promote business interests
What do business associations promote?
The image of occupations
The interests of particular industries
The business interests of a city, state, or group of businesses
The working conditions of workers
