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Exam 5: Forms of Business Ownership and Organization

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Question 71

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Describe how Turning Technologies was formed and how it has benefited the society.

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Turning Technologies,founded in Youngsto...

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Question 72

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Business plans identify the firm's mission and goals.

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Question 73

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Franchises often minimize the amount of expansion opportunities.

CVS Caremark,a healthcare company,recently purchased another firm's Medicaid prescription business.It is an example of a horizontal merger.

Catalina owns 100 _____ stock of NxtGen Solutions,a software firm.It means that she has voting rights on company decisions at NxtGen Solutions,but only residual claims on the company's assets.

Complete the following using the terms listed. -During a(n) _____,two or more firms combine to form one company.

Sole proprietorship is the most common form of business ownership.

Most business incubators are run by not-for-profit organizations focused on economic development.

Which of the following is true of a business with sole proprietorship?

A conglomerate merger is a merger of unrelated firms.

The Small Business Administration (SBA)is the major lending source for small businesses needing additional funds.

Most managers of home-based businesses struggle to establish business hours that correspond with customer availability.

Small businesses generate over 50% of new jobs.

The board of directors of a corporation is elected by the _____.

More than half of all small businesses fail within the first year.

Corporations have all of the following advantages EXCEPT _____.

Farid is the owner of a small mushroom farm in Pennsylvania.He would like to join hands with other growers to create an organization that will promote and distribute mushrooms.The form of ownership that would be most suited for Farid and other growers will be a(n) _____.

Small Business Investment Company (SBIC)loans are actually government loans funneled through a private organization.

Complete the following using the terms listed. -A merger of firms in unrelated industries is called a(n) _____.

Why are small businesses especially important to women and minorities?