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Corp., Inc, Co.

Corp., Inc, Co. Me, Myself & I. Partner Up. Know That Term. Grab Bag. Potpourri. 10. 10. 10. 10. 10. 10. 20. 20. 20. 20. 20. 20. 30. 30. 30. 30. 30. 30. 40. 40. 40. 40. 40. 40. 50. 50. 50. 50. 50. 50. What does it mean to incorporate a business? 10.

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Corp., Inc, Co.

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  1. Corp., Inc, Co. Me, Myself & I Partner Up Know That Term Grab Bag Potpourri 10 10 10 10 10 10 20 20 20 20 20 20 30 30 30 30 30 30 40 40 40 40 40 40 50 50 50 50 50 50

  2. What does it mean to incorporate a business? 10 10 Corp., Inc, Co.

  3. The form of business organization that accounts for 82% of all sales revenue in the US 20 20 Corp., Inc, Co.

  4. A business that is owned by members of the family and a few close friends, that do not trade public stock 30 30 Corp., Inc, Co.

  5. What state must a business incorporate in? 40 40 Corp., Inc, Co.

  6. Who elects the board of directors? 50 50 Corp., Inc, Co.

  7. True or False: As a partnership, you will be able to get more capital and credit to start a business than a sole proprietorship. 10 10 Partner Up

  8. If your partner enters into a contract without your consent, who is legally responsible for the contract? 20 20 Partner Up

  9. In which type of partnership is the liability of a partner limited to the amount of the partner’s investment? 30 30 Partner Up

  10. List two disadvantages of partnerships? 40 40 Partner Up

  11. True or False: Partners in a Partnerships are taxed the same way as a sole proprietors 50 50 Partner Up

  12. Which form of business is the easiest to start? 10 10 Me, Myself & I

  13. True or False: As long a I remain the only owner, I may delegate some of the decision making to managers and still be considered a Sole Proprietorship. 20 20 Me, Myself & I

  14. True or False: Businesses owned by one person usually have enough funds for emergency situations. 30 30 Me, Myself & I

  15. List the advantages of proprietorships 40 40 Me, Myself & I

  16. List the disadvantages to a proprietorship. 50 50 Me, Myself & I

  17. What is Mrs. Frey’s favorite color? 10 10 Potpourri

  18. Name three of the four members to the beatles. 20 20 Potpourri

  19. What is the name of Johnny Depp’s character in “Pirates of the Caribbean”? 30 30 Potpourri

  20. What is the square root of 169? 40 40 Potpourri

  21. Name all 9 of Santa’s reindeer. 50 50 Potpourri

  22. True or False: One advantage of owning stock is the ease to transfer ownership 10 10 Know That Term

  23. When the owner is responsible for all business debts. This occurs in both proprietorships and partnerships. 20 20 Know That Term

  24. This makes up about 72% of all businesses 30 30 Know That Term

  25. As a stockholder, if you can not attend a meeting, you may decide to register your votes by 40 40 Know That Term

  26. Experts believe this is likely to become one of the most popular types of business organizations. 50 50 Know That Term

  27. True or False: A banker or lender is more likely to make sizable loans to a sole proprietor than to a partnership. 10 10 Grab Bag

  28. List the three most common forms of business ownership 20 20 Grab Bag

  29. Who appoints corporate officers? 30 30 Grab Bag

  30. A voluntary associate of two or more people acting as co-owners 40 40 Grab Bag

  31. True or False: The weakness of one partner may be offset by another partner’s strength. 50 50 Grab Bag

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