68) Match each of the following firms with the one type of business it is considered to be. Each firm can be only one type of business.
a. Service
b. Merchandising
c. Manufacturing
d. Financial services
_____ 1. Patel Dry Cleaners
_____ 2. American Express
_____ 3. Honda
_____ 4. Kmart
_____ 5. Boeing
69) Indicate which form of organization is associated with each of the following by putting an "X" in the appropriate column. More than one form may apply to each.
Characteristics;
Sole Proprietorship
Partnership
Corporation
1.
Owners are typically separate from managers and not involved in the day-to-day operations. Thus, managers may make decisions that are not in the best interest of the owner(s).
2.
There is double taxation.
3.
Ownership is represented by shares of stock.
4.
The personal assets of the owners are at risk.
5.
The company's distribution of earnings to owners is called dividends.
70) Indicate the form of organization with which each of the following characteristics is associated by putting an "X" in the appropriate column. More than one form of organization may apply to each.
Characteristic;
The ownership is represented by shares of common stock.
The business pays federal income taxes.
The business exposes the owner(s) to unlimited liability.
Already registered? Login
Not Account? Sign up
Enter your email address to reset your password
Back to Login? Click here