Organizing Function of Management

Which type of business is owned by two people that share the ownership.

• Sole Proprietorship

• Partnership

• LLC

• S-Corp

An S-Corporation is taxed

• Single

• Double

• Not at all

LLC stands for

• Limited Liability Corporation

• Limited Liability Couple

• Licensed Liability Company

• Legal Liability Coalition

Which type of business is taxed double?

• Sole Proprietorship

• Partnership

• LLC

• Corporation

Which business type allows a business to sell a service or product through a contractual agreement that pays annual fees to the original company.

• Sole Proprietorship

• Partnership

• Franchise

• LLC

One advantage of a sole proprietorship is

• The owner has all the responsibility

• The owner pays taxes on the business as if it were personal income.

• The owner makes all the decisions

• The owner can be held personally liable

A simple organization structure where each person reports to a supervisor over them.

• Line & Staff

• Line

• Matrix

• Team

A Matrix Organization

• 
• 
• 
• 

Where all decisions and processes are handled strictly at the top or the executive level

• Decentralized

• Centralized

• Matrix

• Team

Decentralized organizations have an advantage in all but which of these?

• Transportation cost

• Communication

• Local Interest

• Quality control