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Master the Basics of Sole Proprietorship

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Master the Basics of Sole Proprietorship

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Questions and Answers

Which type of corporation has unlimited personal liability for the owner?

Sole proprietorship (correct)

Joint-stock

Partnership

Limited liability company

Which theory suggests that managers are intrinsically motivated to act in the best interest of the corporation and its stakeholders?

Agency theory

Stewardship theory (correct)

Stakeholder theory

Transaction cost economics

According to agency theory, who controls the firm and who owns the firm?

The shareholders control the firm and the managers own the firm.

The employees control the firm and the customers own the firm.

The managers control the firm and the shareholders own the firm. (correct)

The customers control the firm and the employees own the firm.

Which of the following is NOT a type of agency cost?

Production costs Signup and view all the answers

What is the purpose of relative performance evaluation?

To compare a firm's performance to its competitors' performance Signup and view all the answers

What is the role of law enforcement in protecting investors according to the text?

To enforce litigation risk as a discipline mechanism Signup and view all the answers

What is the responsibility of the board of directors?

To represent the owners or shareholders Signup and view all the answers

What is the most common board structure in Germany, Austria, The Netherlands and Denmark?

Two-tier board system Signup and view all the answers

What is the purpose of the nomination committee?

To appoint executives and ensure balance of skills and expertise Signup and view all the answers

Master the Basics of Sole Proprietorship

Choose a study mode

Podcast

Questions and Answers

Which type of corporation has unlimited personal liability for the owner?

Which theory suggests that managers are intrinsically motivated to act in the best interest of the corporation and its stakeholders?

According to agency theory, who controls the firm and who owns the firm?

Which of the following is NOT a type of agency cost?

What is the purpose of relative performance evaluation?

What is the role of law enforcement in protecting investors according to the text?

What is the responsibility of the board of directors?

What is the most common board structure in Germany, Austria, The Netherlands and Denmark?

What is the purpose of the nomination committee?

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