Q. 1. What is a business organization?
2. What is the most common form of business organization?
3. Define sole proprietorship.
4. What percentage of businesses in U. S. are sole proprietorships and what percentage of sales do they produce in U. S.?
5. What are the advantages of sole proprietorships?
6. What role do business licenses and zoning laws play in sole proprietorships?
7. Characteristics of Proprietorships what percentage of sole proprietorships is engaged in retail trade? Why might more sole proprietorships be engaged in services rather than manufacturing?
8. What are the disadvantages of sole proprietorships?
9. Define liability.
10. What are some problems a sole proprietorship will face in trying to expand?
11. Why does a sole proprietorship have a limited life?
12. Define fringe benefits.
13. Why do you think much sole proprietorship is able to offer few fringe benefits to workers?
14. Define partnership.
15. What is the most common type of partnership?
16. How do general partnerships, limited partnerships, and limited liability partnerships differ?
17. Most limited liability partnerships are made up of what type of businesses?
18. What are the advantages of partnerships?
19. What might be stated in an article of partnership?
20. Identify Uniform Partnership Act.
21. Define assets.
22. What are the disadvantages of partnerships?
23. Define corporation.
24. What liability do stockholders of a corporation face?
25. Define stock.
26. How does a corporation differ from a sole proprietorship or partnership?
27. What is the percentage of business and products sold held by corporations?
28. What is the difference between a closely held corporation and a publicly held corporation?
29. What is the basic structure of corporations?
30. What are the advantages of corporations?
31. What is the primary reason for incorporation?
32. Define bond.
33. What are the disadvantages of incorporation?
34. Define certificate of incorporation.
35. Why must stockholders pay taxes on dividends?
36. What is a stock?
37. What other regulations must corporations fulfill?
38. What is a merger?
39. How do horizontal mergers, vertical mergers, and conglomerates differ?
40. What are multinational corporations?
41. What are the advantages and disadvantage of multinationals?
42. How does a business franchise work?
43. What are the advantages of franchises?
44. What are the disadvantages of franchises?
45. Define royalty.
46. What is a cooperative?
47. How do consumer cooperatives, service cooperatives, and producer cooperatives differ?
48. What is a nonprofit organization?
49. What is the purpose of professional organizations, business associations, and trade associations?