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Mitrala
Unit 3
| Question | Answer |
|---|---|
| Why is sole proprietorship the most common form of business ownership? | The government assumes little control over sole proprietorships |
| Which is a major disadvantage to buying a franchise? | The performance of other franchises impact on the franchisee |
| Which is a major advantage to buying a franchise? | Management training and technical assistance provided |
| Which is a major disadvantage of a corporation? | Double taxation |
| Which form of incorporation would a church or charity use? | Nonprofit corporation |
| The Cooper Company decided to sell stock to raise capital. Under which form of business organization does the company operate? | Corporation |
| Which type of business can own assets and borrow money without directly involving the people who own it, and, therefore, is more closely regulated by the government than other business organizations? | Corporation |
| Under which form of business ownership do owners have limited liability? | Corporation |
| Law firms and medical firms generally choose which form of incorporation? | Limited Liability Company |
| Which organization has as its purpose the stimulation of local economic growth? | Chamber of Commerce |
| Which state agency provides businesses with information regarding employer responsibilities in relation to unemployment insurance? | State Department of Labor |
| What state agency issues permits¹ to day care centers? | State Department of Agriculture Consumer Protection Division |
| A local agency which is a good resource for agricultural businesses is the: | Chamber of Commerce |
| The federal agency which provides assistance and advice on how small businesses can increase revenues and profits is the: | SBA. |
| Which federal agency helps small businesses secure government contracts? | SBA |
| Which federal agency provides social and economic statistics to small businesses? | Department of Commerce |
| Vaccinations against communicable diseases illustrates the government's role as a: | Provider of public goods. |
| Providing aid for dependent children illustrates the government's role as a: | Provider of social programs. |
| The USDA requires that meat and poultry plants be inspected to ensure the safety of those food items. This illustrates the government's role as a: | Regulator. |
| OSHA inspects factories to ensure safe working conditions for employees. This illustrates the government's role as a: | Regulator. |
| Each year the government spends millions of dollars on medical research. This is an example of the government's role as a: | Provider of social programs |
| In North Carolina, day care centers are required to obtain licenses. This illustrates the government's role as a: | Regulator |
| To protect consumers, the government must place some restrictions on private companies. This illustrates the government's role as a: | Regulator. |
| A local manufacturer has agreed to produce Gale's new product. This will relieve Gale from having to set up a manufacturing plant. This type of partnership is a/n: | Strategic alliance. |
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