21) Stock may be purchased ________.
A) on a stock exchange
B) on the internet
C) from a stockbroker
D) from more than one of these
22) The stock market is ________.
A) located in New York City
B) the general term used to refer to all stock exchanges
C) where the IRS is located
D) where businesses become incorporated
23) The law firm of Doolittle and Baroque is an example of a ________ firm.
A) service
B) merchandising
C) manufacturing
D) financial services
24) The governmental agency that monitors the stock market and the financial reporting of firms that trade in the market is the ________.
A) Financial Accounting Standards Board (FASB)
B) Internal Revenue Service (IRS)
C) Public Company Accounting Oversight Board (PCAOB)
D) Securities and Exchange Commission (SEC)
25) A business form in which the partners are not personally liable for the malpractice of any of the other partners is called a ________.
A) corporation
B) limited liability partnership
C) modified sole proprietorship
D) partnership
26) Huntington Bank is an example of a ________ firm.
A) service
B) merchandising
C) manufacturing
D) financial services
27) Target is an example of a ________ firm.
A) service
B) merchandising
C) manufacturing
D) financial services
28) Toyota is an example of a ________ firm.
A) service
B) merchandising
C) manufacturing
D) financial services
29) Dell Inc.'s distribution of earnings to owners is called dividends. Dell must be a ________.
A) sole proprietorship
B) partnership
C) corporation
D) sole proprietorship or partnership
30) For which organization is there double taxation?
A) sole proprietorship
B) partnership
C) corporation
D) sole proprietorship, partnership and corporation