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31: Test Your Knowledge
Entrepreneurship within an existing company is referred to as _____.
Management involves _____ and responsibility.
A. credibility
B. authority
C. discipline
D. personality
Describe the management function called
actuating
.
True or False?
In most larger companies, the owners are the managers.
A. True
B. False
True or False?
Everyone involved with a company takes risks with expectation of receiving a reward.
A. True
B. False
List the three forms of business ownership.
True or False?
Private enterprises can be publicly held or privately held.
A. True
B. False
Which of the following statements about a proprietorship is
false
?
A. It is the most common type of ownership in the United States.
B. The proprietor is responsible for all the debts the business incurs.
C. A single owner has complete control of the company.
D. A charter is required to start the business.
A(n) _____ can own property, enter into contracts, sue, and be sued.
Which form of business ownership provides the owners with limited liability?
The general rules under which a corporation operates are included in the _____.
A. bylaws
B. charter
C. articles of incorporation
D. state license
The board of directors of a corporation represents the interests of the _____.
Equity financing involves the sale of _____.
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