BUS 420 - Small Business Management - Quiz 2

BUS 420 - Small Business Management - Quiz 2 - Jane Brisbon...

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Jane Brisbon Course Small Business Management Test Quiz 2 Started 7/28/15 1:48 AM Submitte d 7/28/15 3:48 AM Status Completed Attempt Score 52 out of 60 points Time Elapsed 2 hours, 0 minute out of 2 hours. Instructio ns This quiz consist of 30 multiple choice questions. The first 15 questions cover the material in Chapter 3. The second 15 questions cover the material in Chapter 4. Be sure you are in the correct Chapter when you take the quiz. Question 1 2 out of 2 points The primary reason entrepreneurs choose to incorporate is because of: Answer Selected Answer: the limited liability of stockholders. Correct Answer: the limited liability of stockholders. Question 2 0 out of 2 points Shares the corporation itself owns are called: Answer Selected Answer: [None Given] Correct Answer: treasury stock. Question 3 0 out of 2 points A limited liability company is formed under: Answer Selected Answer: the Revised Uniform Partnership Act. Correct
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Answer: Articles of Organization. Question 4 2 out of 2 points The ________ is a document that states in writing all of the terms of operating the partnership for the protection of each partner involved. Answer Selected Answer: Partnership agreement Correct Answer: Partnership agreement Question 5 2 out of 2 points The most common form of business ownership is the: Answer Selected Answer: sole proprietorship. Correct Answer: sole proprietorship. Question 6 2 out of 2 points All partnerships must have: Answer Selected Answer: at least one general partner. Correct Answer: at least one general partner.
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