Business Structures and Partnerships in MGT 101 Exam With
Complete Solution
Merger - Answer the combination of two firms within an industry.
Partnership - Answer a legal form of business that has two or more owners.
Franchise - Answer an arrangement whereby someone with a good idea for a business
sells the rights to use the business name and to sell a product or service to others in a
given territory.
Acquisition - Answer one company buys the property and obligations of another
company.
Limited Liability - Answer Limited partners and shareholders have this because they are
only responsible for the losses of a business up to the amount they invest.
Limited Liability Company (LLC) - Answer This unique government creation looks like a
corporation but is taxed like sole proprietorships and partnerships.
Licensor - Answer is a company that develops a product concept and sells others the
rights to make and sell the products.
Conglomerate - Answer A business proposal that marries firms in completely unrelated
industries.
Limited Partnership - Answer An agreement that is a partnership with one or more
general partners and one or more limited partners.
Complete Solution
Merger - Answer the combination of two firms within an industry.
Partnership - Answer a legal form of business that has two or more owners.
Franchise - Answer an arrangement whereby someone with a good idea for a business
sells the rights to use the business name and to sell a product or service to others in a
given territory.
Acquisition - Answer one company buys the property and obligations of another
company.
Limited Liability - Answer Limited partners and shareholders have this because they are
only responsible for the losses of a business up to the amount they invest.
Limited Liability Company (LLC) - Answer This unique government creation looks like a
corporation but is taxed like sole proprietorships and partnerships.
Licensor - Answer is a company that develops a product concept and sells others the
rights to make and sell the products.
Conglomerate - Answer A business proposal that marries firms in completely unrelated
industries.
Limited Partnership - Answer An agreement that is a partnership with one or more
general partners and one or more limited partners.
