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Chapter 5

Intro to Business

QuestionAnswer
How many owners can participate in a partnership? Two or more
Which of the following is an advantage of the sole proprietorship form of business organization? Easy and inexpensive to set up
What is the major advantage of forming a corporation? Limited liability
What is the document authoritizing another person to vote on behalf of a shareholder known as? proxy
Which of the following is a major disadvantage of becoming a public company owned by shareholders throughout the world? The company must pay as much as $500 000 to have its shares listed on the stock market.
Which of the following statements accurately reflects an advantage of the cooperative form of business? Members of cooperative have limited liability
Which of the following is an important reason for companies to merge? mergers sharpen the marketing focus of the combined entity.
Which group of shareholders is having an increasing influence on corporations? institutional investors
In a hostile takeover attempt, the raider can make a proposal to buy a certain number of shares for a specified amount of money per share. What is this called? Tender offer.
Which of the following is not a defense against unwanted takeovers? Golden handcuffs.
True or False? Being a sole proprietor guarentees a shorter work week. False
True or False? Regardless of how many owners a corporation has, the law generally treats the corporation the same way it treats an individual person. True
True or False? Mergers often fail because companies have a difficult time merging corporate cultures. True
True or False? The board of directors guarentees the owners of common shares dividend payments every quarter. False
True or False? All companies, regardless of the form of organization, must submit their financial statements to the appropriate securities commission, which makes them available to the public. False.
Sole proprietors are subject to great financial risk because they do not have the protection on ____________ enjoyed by shareholders in a corporation. Limited liability
____________ shareholders have voting rights and have the last claim on the distribution of profits and assets. common stock
Doctors, lawyers, and some other professionals often join forces in a special type of company called a ____________. limited liability.
Mac’s convenience store LLC is an ____________ company of parent company Alimentation Couche-Tard. Subsidiary
In a ____________, scenario, one or more individuals buy all the shares of a publicly traded comp any using borrowed funds. leveraged buyout (LBO)
In a ____________, all partners are considered equal by law, and all are liable for the business’s depts.. general partnership.
Distributions of corporate assets to shareholders in the form of cash or other assets are know as ____________. dividends.
____________ does not usually carry voting rights, but it provides the holder the right of the first claim on the corporation’s assets (in the form of dividends) after all the companies depts have been paid. Preferred stock.
Corporations that sell shares to the general public have the advantage of ____________, which means that investors can easily convert their shares into cash by selling it on the open market. liquidity.
The ____________ defense to a hostile takeover requires shareholders representing a large majority of shares to approve of any takeover attempt. Such a plan is possible only if management has the support of the majority of shareholders. shark repellent.
Created by: nicholehowson
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