MANAGEMENT TEST STUDY GUIDE | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+ & PASSED
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Course
MANAGEMENT
Institution
MANAGEMENT
Joint Venture
Correct Answer: Two corporations coming together for a limited time partnership [ex.
Starbucks in Target]
Cooperative
Correct Answer: Jointly controlled enterprise to meet the needs of its members [ex.
farmers joining forces]
S-Corporation
Correct Answer: Taxed like a partner...
MANAGEMENT TEST STUDY GUIDE |
QUESTIONS & ANSWERS (VERIFIED) |
LATEST UPDATE | GRADED A+ &
PASSED
Joint Venture
Correct Answer: Two corporations coming together for a limited time partnership [ex.
Starbucks in Target]
Cooperative
Correct Answer: Jointly controlled enterprise to meet the needs of its members [ex.
farmers joining forces]
S-Corporation
Correct Answer: Taxed like a partnership but has limited liability like a corporation
Non-Profit Corporation
, Correct Answer: Exists not to make a profit
Planning
Correct Answer: Setting goals and deciding how to achieve them
Organizing
Correct Answer: Organizing things and people to increase efficiency
Staffing
Correct Answer: Hiring and recruiting employees
Leading
Correct Answer: Motivating, inspiring and holding meetings so employees have
access to information
Advantages of sole proprietorship
Correct Answer: Easiest to start
Least regulated
Single owner keeps all the profits
Taxed once as personal income
Disadvantages of sole proprietorship
Correct Answer: Unlimited liability
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