BUS 508 Chapter 5 Quiz

BUS 508 Chapter 5 Quiz

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BUS 508 Chapter 5 Quiz

1.      ________ local programs designed to provide low-cost shared business facilities to small start-up ventures.

2.      Money invested in a business by another business firm or group of individuals in exchange for an ownership share is called a ________.

3.      A sole proprietorship does not give the owner maximum management flexibility along with the right to all profits after payment of business related bills and taxes.

4.      ________ overseas is also a growing trend for businesses whose goal is to expand into foreign markets.

5.      A ________ is an independent business with fewer than 500 employees, not dominant in its market.

6.      With more money to spend on employees, marketing, inventory, and other business costs, successful small companies need to be creative.

7.      The past ________ have seen a steady erosion of small businesses in some industries as larger firms have bought out small independent businesses and replaced them with larger operations.

8.      One of the least common causes of small business failure is the shortcomings of management.

9.      The ________ provides information and assistance in business planning, licenses and registrations, taxes, and employment considerations.

10.  Family-owned firms are considered by many to be the backbone of American business.

11.  The following are the categories of corporations, except:

12.  Small businesses make tremendous contributions to the U.S. economy and to society as a whole.

13.  ________ are firms operated from the residence of the business owner.

14.  Every federal agency with buying authority must maintain an Office of Small and Disadvantaged Business Utilization to ensure that small businesses receive a reasonable portion of government procurement contracts.

15.  A ________ is an association of two or more persons who operate a business as co-owners by voluntary legal agreement.

16.  A ________ is a partnership between companies formed for a specific undertaking.

17.  A ________ is the firm whose products are sold to customers by the franchisee.

18.  Freedom from overhead costs such as leasing office or warehouse space is another major attraction of home-based businesses.

19.  Women, like men, have a variety of reasons for starting their own companies.

20.  ________ are owners of a corporation due to their purchase of stock in the corporation.

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