BUS 508 CHAPTER 5 QUIZ
BUS 508 CHAPTER 5 QUIZ
1.
________ local
programs designed to provide low-cost shared business facilities to small
start-up ventures.
2.
Money invested
in a business by another business firm or group of individuals in exchange for
an ownership share is called a ________.
3.
A sole proprietorship
does not give the owner maximum management flexibility along with the right to
all profits after payment of business related bills and taxes.
4.
________
overseas is also a growing trend for businesses whose goal is to expand into
foreign markets.
5.
A ________ is an
independent business with fewer than 500 employees, not dominant in its market.
6.
With more money
to spend on employees, marketing, inventory, and other business costs,
successful small companies need to be creative.
7.
The past
________ have seen a steady erosion of small businesses in some industries as
larger firms have bought out small independent businesses and replaced them
with larger operations.
8.
One of the least
common causes of small business failure is the shortcomings of management.
9.
The ________
provides information and assistance in business planning, licenses and
registrations, taxes, and employment considerations.
10.
Family-owned
firms are considered by many to be the backbone of American business.
11.
The following
are the categories of corporations, except:
12.
Small businesses
make tremendous contributions to the U.S. economy and to society as a whole.
13.
________ are
firms operated from the residence of the business owner.
14.
Every federal
agency with buying authority must maintain an Office of Small and Disadvantaged
Business Utilization to ensure that small businesses receive a reasonable
portion of government procurement contracts.
15.
A ________ is an
association of two or more persons who operate a business as co-owners by
voluntary legal agreement.
16.
A ________ is a
partnership between companies formed for a specific undertaking.
17.
A ________ is
the firm whose products are sold to customers by the franchisee.
18.
Freedom from
overhead costs such as leasing office or warehouse space is another major
attraction of home-based businesses.
19.
Women, like men,
have a variety of reasons for starting their own companies.
20.
________ are
owners of a corporation due to their purchase of stock in the corporation.
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