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11. The legal form of business with the most alternatives for raising capital is the:
A) proprietorship.
B) corporation.
C) limited partnership.
D) full partnership.
13. In which form of organization does the owner have greatest control?
A) Sole proprietorship
B) Limited partnership
C) General partnership
D) Corporation
18. Which of the following ways of distributing the income of corporations is taxed
twice?
A) Bonus
B) Salary
C) Dividends
D) Profit sharing
21. In an S corporation:
A) gains or losses of the business are separate from the personal income of the
shareholder.
B) shareholders retain unlimited liability.
C) only one class of stock is permitted.
D) most fringe benefits for shareholders can be deducted.
24. Our text tells us that much of an entrepreneur's time during start-up is spent:
A) delegating.
B) negotiating.
C) putting out fires.
D) allocating resources.
28. The difference between a board of directors and a board of advisors is that:
A) the board of advisors meets less frequently.
B) the board of directors lacks voting authority.
C) the board of directors is subject to less pressure of litigation.
D) the board of advisors are compensated.
1 2 3 4 5 6 7 8 9 10 11 12 13 14
B D A A A D A D D C B D A B
15 16 17 18 19 20 21 22 23 24 25 26 27 28
C C C C B D C D C C C B C A