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Corporations in business

Quiz by Sarah Ayyad

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11 questions
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  • Q1
    Which of the following is a benefit of a corporation as a form of business organization?
    Limited control over business decisions
    Limited liability for shareholders
    Unlimited financial liability for shareholders
    Lower taxation compared to sole proprietorships
    30s
  • Q2
    Which of the following statements is true about public corporations?
    Public corporations are owned by a single individual
    Public corporations are not subject to government regulations
    Public corporations sell shares to the general public
    Public corporations do not have to report their financial information publicly
    30s
  • Q3
    What is the term for a corporation that is formed to pursue a specific charitable, educational, religious, or scientific purpose?
    Multinational corporation
    Private corporation
    Public corporation
    Nonprofit corporation
    30s
  • Q4
    What is the term for a legal entity characterized by limited liability, transferable shares, and the ability to raise capital through stock offerings?
    Partnership
    Sole proprietorship
    Corporation
    Limited liability company
    30s
  • Q5
    What 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 company
    Sole proprietorship
    Cooperative
    Partnership
    30s
  • Q6
    Which of the following is a characteristic of a publicly-traded corporation?
    Ownership and control remain with a single individual
    Shares of the company are bought and sold on a stock exchange
    The company is not required to disclose financial information to the public
    Profits are shared equally among all employees
    30s
  • Q7
    What is the term for a corporation that operates in multiple countries and generates revenue from its business activities worldwide?
    National corporation
    Multinational corporation
    Local corporation
    Regional corporation
    30s
  • Q8
    What is a general partnership characterized by in terms of liability for the partners?
    Shared liability
    Unlimited liability
    Limited liability
    No liability
    30s
  • Q9
    What is a limited partnership that includes at least one general partner and one or more limited partners commonly known as?
    Joint venture
    Cooperative
    Limited partnership
    Franchise
    30s
  • Q10
    What is the purpose of issuing stocks in a corporation?
    To increase expenses
    To lower profit margins
    To reduce market share
    To raise capital for the company
    30s
  • Q11
    What is the most common type of corporation in business?
    Nonprofit Corporation
    General Partnership
    C Corporation
    Limited Liability Partnership
    30s

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