
Business Organizations [Gr.7]
Quiz by Rifqa ahmed
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44 questions
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- Q1What kind of business is BEST described by these statements? I am the only owner of my business, I take all the risks of doing business, I keep all the profits.ProprietorshipPartnershipCooperativeCorporation30s
- Q2When entering into a franchise agreement, what is already established?Business nameLocation of the businessEmployeesOrganisational culture of the business30s
- Q3An entrepreneur -Rnforces government regulationsManages financial investmentsTakes the risk to earn profitSets the interest rates at banks30s
- Q4Easy to start, owner is his/her own boss, owner keeps all the profits - These are advantages of what type of businessPartnershipCorporationSole ProprietorshipFranchise30s
- Q5The main disadvantage of a general partnership isShared managementDifficulty of termination.Disagreement amongst partners.The unlimited liability of the partners.30s
- Q6Who provides all marketing materials for the other party including branding, packaging and signageFranchiseeFranchisor30s
- Q7Which pathway option allows you to own a business, under the guidance and licensing of a large business's head office?Buying an existing businessAlready have a businessEntering into a franchise agreementOpening a new business30s
- Q8In a corporation, owners share profit, but liability is limited to -DistributionTheftInvestmentProduction30s
- Q9Which party needs to undertake training and coordinate staffing needs of the business?FranchiseeFranchisor30s
- Q10Floral Shops, Bookstores, Farms are examples of what type businessCorporationMultinational CorporationSole ProprietorshipFranchise30s
- Q11The major advantage of a franchise is:Nationally recognized name.All of the above.Personal ownership.Training and management assistance.30s
- Q12What is a disadvantage of partnerships?Owners share responsibilitiesPossibility of personality conflictLimited liabilityEase of formation30s
- Q13A ___________ is a business with two or more owners:partnership.public corporation.conglomeratecorporation30s
- Q14Choose the best description of a sole proprietorship.A business owned by one person.A business owned by two or more people.A business owned by shareholders.A business owned when one shareholder has 99% investment and the other has 1% investment.30s
- Q15Which is a franchisor?Starts a businessBuys into an existing brandAllows others to use their brand nameTakes over a business30s