AEM1200-0214Q

AEM1200-0214Q - Class M 2/14 Question Set AEM1200 Spring...

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Class M 2/14 Question Set AEM1200 Spring 2011 Pedro David Pérez Match the forms of ownership with their defining characteristic 1. Easiest to start and to terminate 2. Endures double taxation 3. Is the most affected by disagreements among owners 4. It’s closely connected with the needs of its owners 5. Provides a proven business blueprint a. Cooperative b. Corporation c. Franchise d. Partnership e. Sole proprietorship Match the following profiles with the form of ownership most likely to succeed for their startup ventures. 6. Bobby is a just graduated Ph.D. in chemistry. He believes that his research findings can be turned into a valuable biotech company. 7. Cathy is dissatisfied with the choices of foodstuffs available in town. She organizes a few similarly minded friends and acquaintances and starts an independent food retailer; 8. Earl has just retired from a successful corporate career. Earl and his wife, Elsie, reckon that they can work for another 10 to 15 years and they’d like to open a business “to keep busy”; however, they do not have an idea they’d like to exploit; 9. Roger and Margaret are MD’s: Roger is an OB/GYN and Margaret is a pediatrician. They are married and expect that starting a practice together will leverage their knowledge while allowing them to work under the same roof; 10. Shirley is a freelance photographer. She enjoys her work and likes the freedom to accept or reject assignments. Anyways, freelance photography is an extension of her favorite hobby. a. Cooperative b. Corporation c. Franchise d. Partnership e. Sole proprietorship Match the characteristic with its respective form of business. a. Unlimited Liability b. Perpetual life c. Recognized name 11. Corporations 12. Sole proprietorships 13. Franchises 14. Partnerships Match the forms of business organization with their characteristics 15. Cooperative 16. Corporation 17. Franchise 18. Partnership 19. Sole proprietorship a. Easiest to setup b. Most difficult to control c. Most prone to internal conflict d. Subject to double-taxation e. Subject to profit-sharing
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Class M 2/14 Question Set AEM1200 Spring 2011 Pedro David Pérez 20. The _________ is the most common form of business ownership a. Corporation b. Joint venture c. Partnership d. Sole proprietorship e. Trust 21. Which is the easiest kind of business firm to start and terminate? a.
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This note was uploaded on 11/10/2011 for the course AEM 101 taught by Professor N/a during the Spring '11 term at Cornell.

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AEM1200-0214Q - Class M 2/14 Question Set AEM1200 Spring...

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