FiltersDone

Question type

Essay

Multiple Choice

Short Answer

True False

Matching

Exam 6: Forms of Business Ownership

Show Answer

Share

---

All types

Filters

Study FlashcardsPractice ExamLearn

Question 51

Multiple Choice

Review LaterAdd Note

Review Later

_____________ is by far the most popular target for Canadian franchisors seeking to establish franchises in other countries.

A) The United States
B) Mexico
C) Great Britain
D) Japan

E) All of the above
F) A) and D)

Correct Answer

verified

Show Answer

Question 52

Multiple Choice

Review LaterAdd Note

Review Later

Mary is interested in becoming a franchisee in Katie's Grill,a very successful fast food chain from the Canadian West.Which of the following problems is Mary most likely to encounter if she agrees to become a franchisee?

A) High initial costs and fees.
B) Poor name recognition and visibility.
C) Lack of financing.
D) Lack of managerial assistance.

E) A) and B)
F) A) and C)

Correct Answer

verified

Show Answer

Question 53

True/False

Review LaterAdd Note

Co-operatives can be found in many sectors of the economy.

A(n) _____________ is someone who has a good idea for a business and who sells the right to use the business name and sell a product or service within a given territory.

A private corporation is limited to 50 or fewer shareholders.

Compared to sole proprietorships,partnerships offer the advantage of shared management and pooled knowledge.

The board of directors for a corporation is elected by its:

Which of the following operations is not an example of a franchise?

A corporation can raise financial capital by selling shares of stock to interested investors.

The stockholders in a corporation elect a board of directors to oversee the company's major policy issues.

When comparing partnerships to sole proprietorships,an advantage of partnerships is that they:

The first step in starting a sole proprietorship is to fill out a proprietorship charter application form and file it with the provincial government.

Ana has always disliked the notion that the customers,managers and workers of a business are separate individuals with competing goals.She has joined with many other people in her community who share this view to become a member,and part owner,of a child care centre.Ana and the other members operate the centre for their own benefit,and each is expected to work at the centre at least 12 hours each month.The type of organization Ana belongs to is known as a joint venture.

Martyn is a limited partner in Gettout & Associates.Mary Gettout,one of the senior general partners in the company,must temporarily leave the company to attend to some personal matters.Mary has asked Martyn to temporarily perform her managerial duties while he is gone.As a limited partner,Martyn:

Few people today start their own business.

Dev is an owner (partner) who has unlimited liability and is active in managing a law firm.Dev is an example of a:

Ellen has just been granted a franchise from Tim Horton's.The new business will be set up as a,

The corporation is the most common form of business ownership.

Limited partnerships are just like general partnerships,except that they are organized to operate as a going concern for only a limited time period.

An entrepreneur who wishes to start a business with little delay or hassle,and who wants to be his or her own boss,should organize the business as a: