Articles of Incorporation
HU-Chapter 2 Review

Quiz
•
Business
•
12th Grade
•
Medium
Leigh-Kathryn Smith
Used 5+ times
FREE Resource
34 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The contract between partners of a business that defines obligations and responsibilities of the business owners.
The potential for an owner to lose more than has been invested in a business.
A document describing the business that is filed with the state in which a business is formed.
Forces that occur outside of the business that affect the business and its owner.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Harvest
The stage when the owner removes him or herself from the business. Harvesting a business can be thought of as picking the fruit after years of labor.
Achievement of a critical mass in the business, a point at which an adequate living is provided for the owner, with enough growth remaining to keep the business going.
A specific event or occurrence that sparks the entrepreneur to proceed from thinking to doing.
A specific event or occurrence that sparks the entrepreneur to proceed from thinking to doing.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A document describing the business that is filed with the state in which a business is formed.
ESOP
Articles of Partnership
Articles of Incorporation
IPO
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
C Corporation
A corporation owned by a limited group of people. Its stock is not traded publicly.
A separate legal entity that reports its income and expenses on a corporate income tax return and is taxed on its profits at corporate income tax rates.
A business structure in which the business owners share the management and risk of the business.
A partnership that is created to complete a specified purpose and is limited in duration.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Environmental Factors
A person’s belief concerning the degree to which internal or external forces control his or her future.
The personal quality, linked to entrepreneurship, of being motivated to excel and choose situations in which success is likely.
Achievement of a critical mass in the business when an adequate living is provided for the owner with enough growth remaining to keep the business going.
Forces that occur outside of the business that affect the business and its owner.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
ESOP
Employees Sharing Organizational Profits
Employee Stock Ownership Plan
Employees Saving Organizational Profits
Employee Shared Ownership Plan
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Small Business Management
The process of identifying opportunities for which marketable needs exist and assuming the risk of creating an organization to satisfy them.
An association of two or more persons to carry on as co-owners of a business for profit.
A person’s belief concerning the degree to which internal or external forces control his or her future.
The ongoing process of owning and operating an established business.
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