A business entity that provides each owner with

14. A business entity that provides each owner with limited liability while the firm is
operated and taxed like a partnership is called a:
a. general partnership.
b. limited liability company.
c. limited proprietorship.
d. corporation.
e. limited partnership.
15. Insider trading is: 16. Which type of business organization has the respective rights and privileges of a
legal person?

d. General partnership
e. Sole proprietorship
17. Which one of the following is least apt to help convince managers to work in the
best interest of the stockholders?
18. The process of planning and managing a firm's long-term assets is called:
a. capital budgeting. .
b. cash management.
c. working capital management.
d. cost accounting management.
e. capital structure management.
19. In a limited partnership, each limited partner's liability for the partnership's debts
is:
20. Which form of business structure typically has the greatest potential for agency
problems?

c. Corporation
d. Limited partnership
e. Limited liability company
21. The articles of incorporation: