True/False
Indicate whether the sentence or statement is true or
false.
|
|
|
1.
|
There are three types of corporations: Investor-Oriented, Cooperative and
Partnership.
|
|
|
2.
|
If a Partnership fails, you can lose all that you’ve invested plus
more.
|
|
|
3.
|
Since Investor-Oriented Corporations are considered ‘legal
entities’, they have the right to own property, provide services, borrow money and enter into
contracts.
|
|
|
4.
|
If the business fails, the stockholder, not the corporation, is liable for all
debts.
|
|
|
5.
|
A corporation enjoys a continuing existence, regardless of the death, entrance
or exit of one or more of its owners.
|
|
|
6.
|
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.
|
Multiple Choice
Identify the letter of the choice that best
completes the statement or answers the question.
|
|
|
7.
|
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. |
|
Completion
Complete each sentence or statement.
|
|
|
8.
|
Money, equipment, etc. that is used when starting and operating a business is
the definition for ___________.
(make sure you spell the answer correctly)
|
|
|
9.
|
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)
|
|
|
10.
|
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)
|