31) For which organization is ownership represented by shares of stock?
A) sole proprietorship
B) partnership
C) corporation
D) sole proprietorship and partnership
32) For which organization are the personal assets of the owners at risk?
A) sole proprietorship
B) partnership
C) corporation
D) sole proprietorship and partnership
33) For which organization are owners typically separate from managers and not involved in the day-to-day operations, sometimes resulting in managers making decisions that are not in the best interest of the owner(s)?
A) sole proprietorship
B) partnership
C) corporation
D) sole proprietorship and partnership
34) Ira Roth, CPA, is an example of a ________.
A) sole proprietorship
B) partnership
C) corporation
D) not-for-profit
35) Target is an example of a ________.
A) sole proprietorship
B) partnership
C) corporation
D) not-for-profit
36) Doolittle & Daley, attorneys at law, is an example of a ________.
A) sole proprietorship
B) partnership
C) corporation
D) not-for-profit
37) The United Way is an example of a ________.
A) sole proprietorship
B) partnership
C) corporation
D) not-for-profit
38) Which of these businesses pays federal income taxes on its income?
A) corporation
B) partnership
C) sole proprietorship
D) Two of these are correct.
39) Which type of business organization exposes its owner(s) to unlimited liability?
A) corporation
B) partnership
C) sole proprietorship
D) Two of these are correct.
40) Which type of business organization finds it easiest to raise large amounts of capital?
A) corporation
B) partnership
C) sole proprietorship
D) Two of these are correct.