BUS 100 QUIZ 1 (2)

BUS 100 QUIZ 1 (2)

Author: Christine Farr


A key advantage of a sole proprietorship is that _____

A _____ is a voluntary agreement between two or more people to jointly own a business.

A statutory close (or closed) corporation gives its shareholders

_____ are organizations, such as mutual funds, insurance companies, or pension funds, that pool contributions from a large number of investors, clients, or depositors to buy stock and other securities.

Types of corporations include

A corporation must register as a _____ in every state in which it operates other than its state of incorporation.

What are the three types of partnerships?

A _____ merger is the combination of firms in the same industry.

Based on data gathered from the U.S. Census Bureau, _____ are less common than _____ but they tend to be larger and more profitable than _____.

A(n) _____ merger is the combination of two or more firms at different stages of production of a given product or service, so the firms have a buyer-seller relationship.

Business will incur a _____ when expenses are higher than revenue.

The hard sell or aggressive persuasion designed to separate consumers from their cash emerged during the


The relationship era introduced the idea

The marketing era introduced

As a factor of production, capital would include

Entrepreneurs need economic freedom to thrive. Those freedoms include

Doing business today without harming the ability of future generations to meet their needs is referred to as

As a factor of production, capital would include

To be successful, entrepreneurs must be comfortable risking their money and _____ to start and manage a business.

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