Podcast
Questions and Answers
Which type of business structure has a single owner and the owner is in complete control?
Which type of business structure has a single owner and the owner is in complete control?
- Corporation
- Limited liability partnership
- Sole proprietorship (correct)
- Partnership
What is one advantage of a sole proprietorship?
What is one advantage of a sole proprietorship?
- Taxation at personal rate (correct)
- Limited liability
- Ease of organization
- Sharing of skills
Which type of business structure has multiple owners with common business interests?
Which type of business structure has multiple owners with common business interests?
- Limited partnership
- Limited liability partnership
- Sole proprietorship
- General partnership (correct)
What is one disadvantage of a partnership?
What is one disadvantage of a partnership?
Which type of partnership has one partner who is liable for all the losses?
Which type of partnership has one partner who is liable for all the losses?
What is one advantage of a corporation?
What is one advantage of a corporation?
Which type of business structure requires the founders to be distinct from the assets and liabilities of the business?
Which type of business structure requires the founders to be distinct from the assets and liabilities of the business?
What is one disadvantage of a corporation?
What is one disadvantage of a corporation?
What is the term for the percentage of money paid to shareholders as a share of the profits?
What is the term for the percentage of money paid to shareholders as a share of the profits?
What is one requirement for a corporation to be operational?
What is one requirement for a corporation to be operational?
Which type of corporation has limited ownership by individuals of close relation and greater management compared to a public corporation?
Which type of corporation has limited ownership by individuals of close relation and greater management compared to a public corporation?
What is the term for the process when a company decides to sell its shares to the public?
What is the term for the process when a company decides to sell its shares to the public?
What is the main role of the Board of Directors in a corporation?
What is the main role of the Board of Directors in a corporation?
What type of shares reflect profitability in both preferred and common shares?
What type of shares reflect profitability in both preferred and common shares?
What is the term for the right of common shareholders to have the first right to new share issues?
What is the term for the right of common shareholders to have the first right to new share issues?
What is the advantage of corporations in terms of ownership transfer?
What is the advantage of corporations in terms of ownership transfer?
What is the term for a separate entity shared by individuals or organizations?
What is the term for a separate entity shared by individuals or organizations?
What do mergers create in terms of efficiencies and cost savings?
What do mergers create in terms of efficiencies and cost savings?
What is the term for when assets of a company are used to acquire finance to purchase?
What is the term for when assets of a company are used to acquire finance to purchase?
What is the main advantage of corporations in terms of expansion potential?
What is the main advantage of corporations in terms of expansion potential?
Which type of corporation allows ownership by anyone and shares can be purchased on stock exchanges?
Which type of corporation allows ownership by anyone and shares can be purchased on stock exchanges?
What is the term for the process when a company decides to sell its shares to the public?
What is the term for the process when a company decides to sell its shares to the public?
What is the term for the right of common shareholders to have the first right to new share issues?
What is the term for the right of common shareholders to have the first right to new share issues?
What is one advantage of corporations in terms of ownership transfer?
What is one advantage of corporations in terms of ownership transfer?
What is one disadvantage of a corporation?
What is one disadvantage of a corporation?
What is the term for a separate entity shared by individuals or organizations?
What is the term for a separate entity shared by individuals or organizations?
What is one advantage of a sole proprietorship?
What is one advantage of a sole proprietorship?
What is one disadvantage of a partnership?
What is one disadvantage of a partnership?
What do mergers create in terms of efficiencies and cost savings?
What do mergers create in terms of efficiencies and cost savings?
What is the main role of the Board of Directors in a corporation?
What is the main role of the Board of Directors in a corporation?
Which type of business structure allows the owner or manager to have complete control over the business?
Which type of business structure allows the owner or manager to have complete control over the business?
What is one advantage of a limited partnership compared to a general partnership?
What is one advantage of a limited partnership compared to a general partnership?
What is one disadvantage of a limited liability partnership?
What is one disadvantage of a limited liability partnership?
What is one advantage of a corporation compared to a partnership?
What is one advantage of a corporation compared to a partnership?
What is one disadvantage of a corporation?
What is one disadvantage of a corporation?
What is the term for the process of sharing responsibilities, assets, profits, and liabilities in a general partnership?
What is the term for the process of sharing responsibilities, assets, profits, and liabilities in a general partnership?
What is one advantage of a limited liability partnership compared to a general partnership?
What is one advantage of a limited liability partnership compared to a general partnership?
What is one disadvantage of a sole proprietorship?
What is one disadvantage of a sole proprietorship?
What is the term for the ownership of a corporation through shares?
What is the term for the ownership of a corporation through shares?
What is one advantage of a partnership compared to a sole proprietorship?
What is one advantage of a partnership compared to a sole proprietorship?