Three Forms of Ownership

What is one of the three forms of ownership?

• Sole Proprietorship

• Partnership

• Corporation

• All of the above

Which form of ownership involves a single individual owning the entire business?

• Partnership

• Corporation

• Sole Proprietorship

• None of the above

Who makes all the decisions and is responsible for all the problems in a sole proprietorship?

• The sole proprietor makes all the decisions and is responsible for all the problems in a sole proprietorship.

• The board of directors makes all the decisions and is responsible for all the problems in a sole proprietorship.

• The shareholders make all the decisions and are responsible for all the problems in a sole proprietorship.

• The employees make all the decisions and are responsible for all the problems in a sole proprietorship.

Which of the following is an example of a sole proprietorship?

• Large Corporation

• Small Restaurant

• Government Agency

• Non-Profit Organization

Which of the following is a characteristic of a sole proprietorship?

• Limited liability

• Single owner

• Multiple shareholders

• Corporate tax rates

Who are the owners of a corporation?

• Employees

• Stockholders

• Managers

• Customers

Which lodging market segments involves people attending a specific event?

• Business

• Conventions and Meetings

• Leisure

• Budget

What type of accommodations is most associated with the budget segment?

• Full-service hotels

• All-suite hotel

• Limited-service hotels

• Bed and Breakfasts

What is a main feature of long-stay lodging market segment?

• Proximity to conventions

• Kitchen facilities and closet space

• Restaurant dining options inside the hotel

• Budget friendly

What type of hotel is characterized by its proximity to urban attractions and businesses?

• Suburban hotels

• City Centric hotels

• Highway hotels

• Airport hotels