True/False Indicate whether the sentence or statement is true or
false.
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1.
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There are three types of corporations: Investor-Oriented, Cooperative and
Partnership.
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2.
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If a Partnership fails, you can lose all that you’ve invested plus
more.
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3.
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Since Investor-Oriented Corporations are considered ‘legal
entities’, they have the right to own property, provide services, borrow money and enter into
contracts.
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4.
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If the business fails, the stockholder, not the corporation, is liable for all
debts.
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5.
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A corporation enjoys a continuing existence, regardless of the death, entrance
or exit of one or more of its owners.
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6.
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You are guaranteed a share in the profits (however small they may be) everfy
year if you invest in a Investor-Oriented Corporation but you’re not guaranteed any profits if
you are part of a Partnership.
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Multiple Choice Identify the letter of the choice that best
completes the statement or answers the question.
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7.
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In an Investor-Oriented Corporation, management is controlled by
a. | the stock holders. | c. | a Board of Directors. | b. | the
owner. | d. | the President of the
Company. |
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Completion Complete each sentence or statement.
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8.
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Money, equipment, etc. that is used when starting and operating a business is
the definition for ___________. (make sure you spell the answer correctly)
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9.
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A business owned and controlled by the people who use its services on a
non-profit basis is the definition for a _______________. (make sure your answer is spelled
correctly - 1 word answer required)
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10.
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When dealing with an Investor-Oriented Corporation, _____________ stockholders
don’t have voting rights at stockholder’s meetings. (your one-word answer must be
spelled correctly)
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