11 Jan The primary market

Question 1

2 out of 2 points

All partnerships must have:

Question 2

2 out of 2 points

The most common form of business ownership is the:

Question 3

2 out of 2 points

In a joint venture, individuals join together in co-ownership for:

Question 4

2 out of 2 points

Which of the following is a disadvantage of the corporation form of ownership?

Question 5

2 out of 2 points

A partnership is:

Question 6

2 out of 2 points

The limited liability company is most like a(n):

Question 7

2 out of 2 points

Acme Corporation is chartered in Delaware, but its primary area of operation is in South Carolina. In South Carolina, Acme would be considered a(n) ________ corporation.

Question 8

2 out of 2 points

Which type of ownership is not subject to federal taxation?

Question 9

2 out of 2 points

The primary reason entrepreneurs choose to incorporate is because of:

Question 10

0 out of 2 points

The most critical disadvantage of the sole proprietorship is:

Question 11

2 out of 2 points

The ________ is a document that states in writing all of the terms of operating the partnership for the protection of each partner involved.

Question 12

2 out of 2 points

________ corporations have shares that are controlled by a relatively small number of people – family members, relatives, or friends.

Question 13

2 out of 2 points

A limited partnership is a modification of a(n) ________ form of ownership.

Question 14

2 out of 2 points

Common ownership interest in a business, sharing profits (or losses) of a business, and the right to participate in managing the operations of the business are characteristics of a(n):

Question 15

2 out of 2 points

Probably the most important feature of a partnership agreement is:

Question 16

2 out of 2 points

Territorial protection in franchising:

Question 17

2 out of 2 points

The biggest challenge facing the growth of new franchises is:

Question 18

2 out of 2 points

The primary advantage of buying a franchise over starting your own company is:

Question 19

2 out of 2 points

When it comes to purchasing products, equipment, etc., the franchiser:

Question 20

2 out of 2 points

When the franchisee has the right to establish a semi-independent organization in a particular territory to recruit, sell, and support other franchises, it is called a ________ franchise.

Question 21

2 out of 2 points

The failure rate for franchises is:

Question 22

2 out of 2 points

Another term for cobranding franchising is:

Question 23

2 out of 2 points

________ franchising involves providing the franchisee with a complete business system–the established name, the building layout and design, accounting systems, etc.

Question 24

2 out of 2 points

When buying a franchise, the potential franchisee should first:

Question 25

2 out of 2 points

There are two main risks in purchasing a franchise. First, that of the franchiser’s experience and business system, and second:

Question 26

2 out of 2 points

The ________ requires all franchisers to disclose detailed information on their operations at the first personal meeting or at least fourteen days before a franchise contract is signed or any money is paid.

Question 27

2 out of 2 points

When it comes to financial assistance for franchisees, the franchiser often:

Question 28

2 out of 2 points

The primary market for U.S. franchisers is:

Question 29

2 out of 2 points

Franchise advertising programs:

Question 30

2 out of 2 points

In franchising, the reputation of the franchiser is dependent on: