Mine all mine
Which of the following is a characteristic of a sole proprietorship?
What is the owner of the business enjoys complete control over all aspects of the business?
What is the correct definition of a partnership?
What is a business entity consisting of shared ownership between two or more people?
If a business has a general partner who runs the business, the business has what type of partnership?
What is a limited partnership?
If a business has its liability, management duties, and profits equally divided among its partners, what type of partnership is it?
What is a general partnership?
Which of the following businesses are examples of a franchise?
What is Pizza Hut restaurants?
When choosing an organizational type, what important factors should you consider?
What is control versus responsibility and risk tolerance?
In the United States, which type of business ownership is the most frequently used type?
What is a sole proprietorship?
If a business has both the focus and ability to maximize profits for shareholders, but also seeks after a broader mission without maximizing shareholder profits, what type of business entity is it most likely to be?
What is a B corporation?
Clark is learning about various business entity types in order to set up his new business. He wants to know which entities are subject to limited liability. You tell him that the entities subject to limited liability are:
What is corporations?
Which of the following statements about a franchise is correct
What is a franchise provides a business model, a brand and a proven product to the franchisee?
When it comes to taxes, which statement fits best with a sole proprietorship business?
What is tax reporting requirements are fairly simple and are the lowest tax rate of any legal structure?
What are the characteristics of a Limited Liability Partnership (LLP)?
What is one partner IS NOT liable or responsible for another partner’s negligence or misconduct?
The main characteristic of a B corporation is that it seeks to provide:
What is a return to shareholders while pursuing other goals that benefit community or society?
Carlos is about to start a career counseling business. His goal is to not pay taxes both as a business and as an individual and to maximize his income. He also wants to minimize liability. If someone sued his business, he doesn’t want to be personally liable. What form of business ownership would best suit Carlos’s needs?
What is a limited liability company?
You have decided to become a franchisee for a Jiffy Lube oil change business. What would be a benefit for you being a franchisee?
What is you have access to a template for the business?
You are considering setting up a business as an S corporation. What are some of the advantages to this type of business form?
What is business expense tax credits, tax savings, and that the business has an independent life from its shareholders?
When Henry started up his corporation, he also had to consider the disadvantages of starting and running a corporation. What are some of the disadvantages?
What is his corporation creates double taxation?
A business professor is trying to describe what makes an LLC different from a C Corporation. Which would be the correct statement for her to make about the difference?
What is the LLCs and C Corporations are taxed differently?
Tina and her best friend Aaliyah want to start a medical transcriptionist company together. They grew up together and know each other well, but when it comes to business, neither of them want to be held responsible for any negligence or misconduct of the other should something happen. They also want to be certain to only be taxed once on company profits. Which type of organizational structure would be best for Tina and Aaliyah to establish?
What is LLP?
What types of fees or payments are you expected to pay as a franchisee of a business?
What is the royalty fees for the support from the franchiser?
Your friend, Hannah, is considering setting up a corporate entity type for her business. You know the main characteristic that distinguishes an S Corporation from a C Corporation. What is that difference?
What is that only an S corporation’s shareholders are taxed, but the business itself is not taxed?
Xian is creating a B Corporation that takes profits from his business to assist with increasing the amphibian animal population in his home town’s marshlands. Identify what actions Xian will need to take to create his B Corp.
What is declare a commitment to creating general public benefit, prepare an annual benefit report and adopt a third-party standard?
When a McDonald's opens in your local area by franchising to a franchisee, what is the benefit to the McDonald’s corporation?
What is McDonald’s corporation is avoiding the financial investment and liability of a chain of stores?
In 1998, the German auto manufacturer Daimler-Benz purchased Chrysler for $36 billion which was one of the biggest mergers of its kind back then. Both of these companies were in the automotive business. Even though they had different cultures and market focus, this merger is an example of a:
What is a horizontal merger?
The “Dino Dig, Inc.” gas company has discovered large oil deposits in North Dakota over the last three years. With money from its company profits, it purchases controlling shares and equipment in a truck transportation company and a railroad transportation company. Both of the companies continue to operate under their original names, but now “Dino Dig, Inc.” uses its newly obtained assets to more efficiently and cheaply transport its crude oil around the country. Dino Dig, Inc. is great at:
What is vertical acquisitons?