Business Law C713 - Unit 7 Learning Checks and Unit
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Which statement is not an advantage of starting a sole B
proprietorship?
A. A sole proprietor keeps all the profits from the
business.
B. There is an abundance of money to start up or expand
the business.
C. There are fewer government regulations.
D. It is relatively easy to start.
What are the limitations of a sole proprietorship? C
A. Costly to start
B. No flow-through taxes
C. Difficult to get outside financing
D. Lack of ownership independence
Which statement is an advantage in forming a partnership D
versus a corporation?
A. A partnership has an easier time obtaining long-term
financing.
B. A partnership has a larger management base.
C. A partnership is stable.
D. A partnership avoids double taxation.
Who is responsible for running the daily operations of a B
corporation?
A. Board of Directors
B. Officers
C. Shareholders
D. Managers
, Why are large/public corporations good for the A and D
economy? Choose Two
A. Decrease the price of some goods
B. Lead to branding
C. Pay dividends to officers
D. Increase income to insurance companies and pensions
What do shareholders have a right to get from the D
corporation?
A. Dividends
B. A share of the Corporation's assets
C. Tax returns of the directors
D. None of the above
What ca shareholders vote on? A
A. Electing the Board of Directors
B. Electing the Officers
C. Determining whether the company can make a capital
expenditure, such as buying new equipment to replace
equipment that is worn out.
D. Filing Articles of Incorporation
Which example is not a key advantage of a corporation? B
A. Corporations offer limited personal liability to owners.
B. Corporations are not expensive to start and have few
government regulations.
C. Corporations may issue stock to raise money.
D. Corporations can exist indefinitely, so they do not
cease to exist when an owner dies or leaves.
What is a right of a shareholder? A
A. Elect directors
B. Elect officers
C. Appoint managers
D. Appoint subsidiaries
What does it mean to "pierce the corporate veil"? A
A. Creditors can get the owners' assets.
B. Creditors can get the corporation's assets.
C. The corporation will dissolve.
D. The corporation will now have flow-through taxes.
What is an advantage in forming an S corporation? A
A. It is only taxed once.
B. It can have many stockholders.
C. It is easy to terminate.
D. It has absolute control over decision-making.
Quizes
Save
Students also studied
Termination of Agency Mock Trial Rules of Evidence SET 5: CONTRACTS, FINANCING & ... Rules o
13 terms 24 terms 17 terms 47 terms
just-x-marissa Preview cheeseth Preview Lauren_Kanis Preview mo
Which statement is not an advantage of starting a sole B
proprietorship?
A. A sole proprietor keeps all the profits from the
business.
B. There is an abundance of money to start up or expand
the business.
C. There are fewer government regulations.
D. It is relatively easy to start.
What are the limitations of a sole proprietorship? C
A. Costly to start
B. No flow-through taxes
C. Difficult to get outside financing
D. Lack of ownership independence
Which statement is an advantage in forming a partnership D
versus a corporation?
A. A partnership has an easier time obtaining long-term
financing.
B. A partnership has a larger management base.
C. A partnership is stable.
D. A partnership avoids double taxation.
Who is responsible for running the daily operations of a B
corporation?
A. Board of Directors
B. Officers
C. Shareholders
D. Managers
, Why are large/public corporations good for the A and D
economy? Choose Two
A. Decrease the price of some goods
B. Lead to branding
C. Pay dividends to officers
D. Increase income to insurance companies and pensions
What do shareholders have a right to get from the D
corporation?
A. Dividends
B. A share of the Corporation's assets
C. Tax returns of the directors
D. None of the above
What ca shareholders vote on? A
A. Electing the Board of Directors
B. Electing the Officers
C. Determining whether the company can make a capital
expenditure, such as buying new equipment to replace
equipment that is worn out.
D. Filing Articles of Incorporation
Which example is not a key advantage of a corporation? B
A. Corporations offer limited personal liability to owners.
B. Corporations are not expensive to start and have few
government regulations.
C. Corporations may issue stock to raise money.
D. Corporations can exist indefinitely, so they do not
cease to exist when an owner dies or leaves.
What is a right of a shareholder? A
A. Elect directors
B. Elect officers
C. Appoint managers
D. Appoint subsidiaries
What does it mean to "pierce the corporate veil"? A
A. Creditors can get the owners' assets.
B. Creditors can get the corporation's assets.
C. The corporation will dissolve.
D. The corporation will now have flow-through taxes.
What is an advantage in forming an S corporation? A
A. It is only taxed once.
B. It can have many stockholders.
C. It is easy to terminate.
D. It has absolute control over decision-making.
