Multiple Choice
Identify the choice that best completes the
statement or answers the question.
|
|
|
1.
|
The form of business that represents two-thirds of US businesses is the
a. | corporation. | c. | sole proprietorship. | b. | partnership. | d. | cooperative. |
|
|
|
2.
|
Which of the following is NOT one of the five activities of business
managers?
a. | planning | c. | controlling | b. | purchasing | d. | staffing |
|
|
|
3.
|
The parent company of a franchise business is known as the
a. | franchisee. | c. | Big Daddy. | b. | franchisor. | d. | all of the
above |
|
|
|
4.
|
Businesses affect a community when they
a. | buy products. | c. | employ workers. | b. | use services. | d. | all of the
above. |
|
|
|
5.
|
Which of the following is a type of manufacturing?
a. | custom manufacturing | c. | processing | b. | mass production | d. | all of the
above |
|
|
|
6.
|
A form of business that is based on a written agreement about how to manage it
and how to share profits is the
a. | corporation. | c. | sole proprietorship. | b. | partnership. | d. | cooperative. |
|
|
|
7.
|
People who become part owners of a corporation are called
a. | partners. | c. | shareholders. | b. | special owners. | d. | cooperative
owners. |
|
|
|
8.
|
Which of the following is a function performed by all businesses?
a. | generating ideas | c. | keeping records | b. | raising capital | d. | all of the
above |
|
|
|
9.
|
What effect does a new business have on a community?
a. | It has multiple benefits. | b. | It profits only the new
businesses. | c. | Other businesses are not effected. | d. | Few resources are
needed. |
|
|
|
10.
|
Which of the following is NOT a reason for a business to keep records?
a. | To provide information for management decisions. | b. | To provide
information for tax returns. | c. | To provide jobs for
accountants. | d. | To provide information about income and expenses. |
|