Answers2414VA Career Explorations Sem ABusiness Structures

Business Structures Answers

5 verified answers
1
Free Preview

Which of the following is not an attribute of a Limited Partnership?

A
Limited partnerships do not share in the risk of the company beyond the amount of their investment.
B
The limited partner is authorized to make business decisions on behalf of the general partners.
C
Limited Partners are paid a dividend on profits earned by the company.
D
Limited Partners cannot sell their interest in the business without notifying the general partners.
2
Free Preview

A franchise is _____.

A
a license that business owners purchase from a larger company
B
illegal in most states
C
very expensive to purchase and more expensive to maintain
D
none of the above
3

If the owner of a sole proprietorship is sued by a customer who slipped and fell in her store, _____.

A
the sole proprietor is liable only for a small fraction of any damages
B
the sole proprietor is not liable under any circumstance
C
the sole proprietor is personally liable for damages the injured woman is awarded by the courts
D
the sole proprietor is covered by a Small Business Administration insurance policy
4

Every small business must register with the secretary of state in their home state.

A
False
B
True
5

There are more corporations in this country than any other business structure.

A
False
B
True

Did you find these answers helpful?

More from this Course

Quiz
3 verified answers

How Manufacturers Are Organized

Business Structures Answers — 2414VA Career…