math 101

Topics: Corporation, Limited partnership, Partnership Pages: 6 (969 words) Published: February 4, 2014
They allow the employees to make decission for themselves. They also focus on supporting their employees in their personal and professional growth. They offer a wellness program for all employees. They look at it as we take care of you and you take care of our guests. It has improved how they do their jobs, how they treat the guests, how their attitude is at work, and how they can have fun.

If they were to open in Asia, I really don’t see it being a problem for the fact is I’m sure they will get their employees the proper training they need. They may higher from Asia, which speak their langue plus speak other languages. They take care of their employees as well as the employees take care of the guests. Chapter 3 Test

Indicate whether the statement is true or false.

____1.Preferred stock represents the nonvoting ownership of a corporation.

____2.Limited liability is one characteristic of the corporate form of business organization.

____3.A proxy is a written promise issued by a corporation to repay borrowed money at a later date.

____4.One advantage of a corporation is the ease of obtaining a charter.

____5.One disadvantage of a general partnership is each partners' responsibility for the acts of all other partners.

____6.Many schools, medical care facilities, and churches operate as nonprofit organizations.

____7.Cooperatives can be organized to help consumers, provide services, or help producers.

____8.The American Federation of Labor is an example of a professional association.

____9.Labor unions use collective bargaining to negotiate job-related issues with management.

____10.Social Security is an example of government's direct role in the economy.

____11.Sole proprietorships must request a charter from the state in which they are organized.

____12.People form partnerships because it often improves a business's management and can usually attract capital more easily than proprietorships.

____13.Investors in corporations have unlimited liability for the company's debts.

____14.The dividends of stockholders in a corporation are subject to double taxation.

____15.An income statement is prepared by businesses to report sales, expenses, profits, and other financial activities.

____16.When two firms merge, both retain their legal identities.

____17.One of the principal reasons that companies merge is to diversify their product lines.

____18.A consumer cooperative can offer members prices that are lower than those charged by regular businesses.

____19.A professional association tries to improve the working conditions, skill levels, and public perceptions of the profession.

____20.The government is a nonprofit organization that plays a direct role in the economy by, for example, regulating public utilities that would operate with few or no competitors.

Multiple Choice
Identify the choice that best completes the statement or answers the question.

____21.Unlike a general partnership, in a limited partnership a.all partners share equal financial responsibility for the firm's decisions. b.the inactive partner has limited liability for the business's debts. c.the partners must pay special business taxes.

d.the business does not end with the death of a partner.

____22.This regulates the sale of stock in a corporation.
a.labor unionsc.stockbrokers
b.Securities and Exchange Commissiond.chamber of commerce

____23.A merger of corporations involved in different steps of manufacturing or marketing is known as a a.multinational merger.c.vertical merger.
b.horizontal merger.d.conglomerate.

____24.Non-profit organizations may
a.issue stock. dividends.
c.provide goods and services to members. income taxes.

____25.The local chamber of commerce works to
a.promote the welfare of its members and the community.
b.earn dividends for members.
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