Profits do not have to be shared. This statement refers to
  • Company
  • Sole proprietorship
  • Joint Hindu family business
  • Partnership
The board of directors of a joint stock company is elected by
  • General public
  • Government bodies
  • Shareholders
  • Employees
The karta in Joint Hindu family business has
  • No liability for debts
  • Unlimited liability
  • Joint liability
  • Limited liability
The most effective form of business organization for raising capital is the:
  • joint venture.
  • partnership.
  • corporation.
  • proprietorship.
The major advantage of a franchise is:
  • training and management assistance.
  • personal ownership.
  • nationally recognized name.
  • all of the above.
Which of the following is an example of a non profit organization?
  • Royal Bank.
  • YMCA
  • BCE.
  • Air Canada.
Which of the following is an example of a public corporation?
  • Imperial Oil.
  • Hospital for Sick Children.
  • Mouvement Caisse Desjardin.
  • YMCA.
A partner who is not actually involved in the partnership but lends his name for public relations purposes is a:
  • silent partner.
  • general partner.
  • nominal partner.
  • dominant partner.
The main disadvantage of a general partnership is:
  • the unlimited liability of the partners.
  • disagreement amongst partners.
  • shared management.
  • difficulty of termination.
The simplest form of business ownership is a:
  • proprietorship.
  • partnership.
  • corporation.
  • cooperative.
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