Corporation
E OBJ 1.05 Vocab

Quiz
•
Other
•
9th - 12th Grade
•
Medium
Andrea Cooper
Used 42+ times
FREE Resource
7 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A form of business ownership that is owned by stockholders who have purchased units or shares of the company; an “artificial being, invisible, intangible, and existing only in contemplation of the law” (U.S. Supreme Court)
A contractual agreement between a parent company and a franchisee to distribute goods or services
A form of business ownership in which members of a corporation experience limited liability; there is limited taxation on company income and limited life for the business entity
A legal business structure that primarily operates for the purpose of serving others, not to make a profit; income is used to cover operational expenses; can be exempt from paying some or all taxes
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Franchise
A contractual agreement between a parent company and a franchisee to distribute goods or services
Two individual businesses that combine to form one organization
A legal business structure that primarily operates for the purpose of serving others, not to make a profit; income is used to cover operational expenses; can be exempt from paying some or all taxes
A business owned by one person who receives all the profits from the business and takes all the risks
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Limited liability company (LLC)
A form of business ownership in which members of a corporation experience limited liability; there is limited taxation on company income and limited life for the business entity
A legal business structure that primarily operates for the purpose of serving others, not to make a profit; income is used to cover operational expenses; can be exempt from paying some or all taxes
A franchise arrangement based on an independent sales relationship between a franchisor and franchisee to stock and sell a specific line of goods; also known as dealership or exclusive distributorship
A business owned by one person who receives all the profits from the business and takes all the risks
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Merger
Two individual businesses that combine to form one organization
A legal business structure that primarily operates for the purpose of serving others, not to make a profit; income is used to cover operational expenses; can be exempt from paying some or all taxes
A form of business ownership in which the business is owned by two or more persons
A business owned by one person who receives all the profits from the business and takes all the risks
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Non Profit Corporation
A legal business structure that primarily operates for the purpose of serving others, not to make a profit; income is used to cover operational expenses; can be exempt from paying some or all taxes
A form of business ownership in which the business is owned by two or more persons
A form of business growth in which a company extends its operations or facilities using new capital or reinvested funds
A form of business ownership that is owned by stockholders who have purchased units or shares of the company; an “artificial being, invisible, intangible, and existing only in contemplation of the law” (U.S. Supreme Court)
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Partnership
A form of business ownership in which the business is owned by two or more persons
A contractual agreement between a parent company and a franchisee to distribute goods or services
A form of business growth in which a corporation acquires many smaller companies
A business owned by one person who receives all the profits from the business and takes all the risks
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Sole proprietorship
A business owned by one person who receives all the profits from the business and takes all the risks
A form of business ownership in which the business is owned by two or more persons
A form of business ownership that is owned by stockholders who have purchased units or shares of the company; an “artificial being, invisible, intangible, and existing only in contemplation of the law” (U.S. Supreme Court)
A legal business structure that primarily operates for the purpose of serving others, not to make a profit; income is used to cover operational expenses; can be exempt from paying some or all taxes
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