7181282
Description
Quiz by Moses Walker, updated more than 1 year ago
|
Created by Moses Walker
almost 8 years ago
|
|
Question 1
Question
In which of the following types of business is there a separation between owners and the business itself?
Answer
-
Sole proprietorship
-
General partnership
-
Limited liability partnership
-
Senior partnership
Question 2
Question
Limited liability is an advantage of the
Answer
-
Proprietorship
-
Partnership
-
Sole tradership
-
Public company
Question 3
Question
The group elected by the shareholders that sets the basic policies for a business and appoints it's officers is a/an
Answer
-
Board of directors
-
Joint board of directors
-
Electioneering committee
-
Staffing committee
Question 4
Question
This type of business organization is an artificial being, invisible, intangible, BUT incorporated by law. This type of company can be described as a
Answer
-
Joint venture
-
Sole tradership
-
General partnership
-
Public limited company
Question 5
Question
The greatest disadvantage of the sole proprietorship is that..
Answer
-
It is not easy to terminate the business.
-
Government requirements for the start-up of the business are the same as those for a public company.
-
The owner may loose all personal assets in the event that the business fails.
-
The owner has no restrictions at all on any services or good he/she wishes to provide.
Question 6
Question
An entrepreneur, having invested large sums of money in a business enterprise can expect to receive.
Answer
-
Interest on his investment.
-
Salary or wages for his investment and efforts.
-
Profit on his investment.
-
Rent on his investment.
Question 7
Question
A system of exchange in which wealth is exchanged for wealth is called a..
Answer
-
Group exchange system.
-
Monetary system.
-
Financial exchange system.
-
Barter system.
Question 8
Question
Most Caribbean nations, in determining what to produce as well as how to produce, and for whom to produce goods and services have adopted the..
Answer
-
Command or planned economic system.
-
Mixed economic system.
-
Free market economic system.
-
Laissez-faire economic system.
Question 9
Question
All the following are functions of a business EXCEPT..
Answer
-
Provide profits to owners.
-
Encourage a reduction in employment.
-
Purchase raw materials from supplies.
-
Provide quality products to customers.
Question 10
Question
The major difference between the private sector and the public sector is..
Answer
-
The motive which directs each sector's activities.
-
Insignificant since they are both pursuing similar goals.
-
Of little importance to Caribbean nations.
-
The profit motive of the public sector.
Want to create your own Quizzes for free with GoConqr? Learn more.