
Corporations in business
Quiz by Sarah Ayyad
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11 questions
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- Q1Which of the following is a benefit of a corporation as a form of business organization?Limited control over business decisionsLimited liability for shareholdersUnlimited financial liability for shareholdersLower taxation compared to sole proprietorships30s
- Q2Which of the following statements is true about public corporations?Public corporations are owned by a single individualPublic corporations are not subject to government regulationsPublic corporations sell shares to the general publicPublic corporations do not have to report their financial information publicly30s
- Q3What is the term for a corporation that is formed to pursue a specific charitable, educational, religious, or scientific purpose?Multinational corporationPrivate corporationPublic corporationNonprofit corporation30s
- Q4What is the term for a legal entity characterized by limited liability, transferable shares, and the ability to raise capital through stock offerings?PartnershipSole proprietorshipCorporationLimited liability company30s
- Q5What is the term for a corporation that is owned and managed by the same individuals, who are also personally liable for the company's debts and obligations?Limited liability companySole proprietorshipCooperativePartnership30s
- Q6Which of the following is a characteristic of a publicly-traded corporation?Ownership and control remain with a single individualShares of the company are bought and sold on a stock exchangeThe company is not required to disclose financial information to the publicProfits are shared equally among all employees30s
- Q7What is the term for a corporation that operates in multiple countries and generates revenue from its business activities worldwide?National corporationMultinational corporationLocal corporationRegional corporation30s
- Q8What is a general partnership characterized by in terms of liability for the partners?Shared liabilityUnlimited liabilityLimited liabilityNo liability30s
- Q9What is a limited partnership that includes at least one general partner and one or more limited partners commonly known as?Joint ventureCooperativeLimited partnershipFranchise30s
- Q10What is the purpose of issuing stocks in a corporation?To increase expensesTo lower profit marginsTo reduce market shareTo raise capital for the company30s
- Q11What is the most common type of corporation in business?Nonprofit CorporationGeneral PartnershipC CorporationLimited Liability Partnership30s