quiz 5 A - QUIZ FOR CHAPTER 5 A MCQ: 1.The _ is usually the...

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QUIZ FOR CHAPTER 5 A MCQ: 1.The __________ is usually the easiest form of business to start and end. A) sole proprietorship B) limited partnership C) corporation D) cooperative 2. Mara plans to open a shop specializing in foods and cultural items from the Middle East. She wants to be the firm's only general partner, but she is trying to get several friends to participate as limited partners. Apparently Mara wants to: A) limit her personal liability to the amount she personally invests in the company. B) be the only person allowed to share in the firm's profits. C) obtain a strong financial base for the firm while maintaining personal control over the firm's management. D) be a stockholder. 3. Jamie and Maria invested all their savings in a small pizzeria they opened outside the University of Western Kentucky. They operated the business as a general partnership. After 11 months the business went broke and Jamie and Maria were left with outstanding bills of $37,500, which is more than their investment in the company. Jamie and Maria can: A) lose their personal assets as the result of their company's financial problems. B) lose only the funds they originally invested in their company. C)
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This note was uploaded on 01/29/2012 for the course BUSINESS A bus102 taught by Professor Samia during the Spring '11 term at MSA University.

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quiz 5 A - QUIZ FOR CHAPTER 5 A MCQ: 1.The _ is usually the...

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