Question 1Tips4 ptsThe most common form of business organization is the:Group of answer choicesgeneral partnershipcorporationsole proprietorshipcooperativelimited partnership Flag question: Question 2Question 2Tips4 ptsWhat type of business organization generates the most total sales?Group of answer choicesGeneral partnershipCorporationSole proprietorshipCooperativePartnership Flag question: Question 3Question 3Tips4 ptsOf all forms of business ownership, corporations account for the largest share of both:Group of answer choicesnumber of firms and salessales and profitsincome and employeesnumber of firms and employeesbankruptcies and employees Flag question: Question 4Question 4Tips4 ptsJules Sylvester had always loved reptiles. When he was asked by a movie producer if he could locate some anaconda snakes for a movie, a business was born. Sylvester is the proud owner and operator of Reptile Rentals. The California-based business, which he started with no financial help from anyone, is often called on to provide "creepy, crawly" moments in the movies. Jules Sylvester is an example of a:Group of answer choicessole partnershipsole proprietorshipS corporationlimited partnershipgeneral proprietorship Flag question: Question 5Question 5Tips4 ptsWhen Linda McAnem began Stirya, a New York-based computer services company, she ran it as a sole proprietorship. As a sole proprietor, McAnem:Group of answer choicesfound it easy to raise capitalhad no trouble finding qualified employeesfound the business to be easy and inexpensive to formhad limited liabilitywas able to take advantage of various tax deductions Flag question: Question 6Question 6Tips4 ptsWhich of the following is an advantage of sole proprietor ownership?Group of answer choicesLimited liabilityFreedom from government regulationEase with which capital can be raisedEase with which qualified employees can be foundNone of the above Flag question: Question 7Question 7Tips4 ptsWhich type of business organization experiences the least governmental regulation?Group of answer choicesJoint venturePrivate corporationLimited partnershipPublic corporationSole proprietorship Flag question: Question 8Question 8Tips4 ptsThe form of business ownership that is easiest to dissolve is the:Group of answer choicessole proprietorshiplimited partnershipcooperativesubsidiarypublic corporation Flag question: Question 9Question 9Tips4 ptsThe form of business ownership that has the most difficulty in raising capital is the:Group of answer choicesgeneral partnershiplimited partnershipcooperativecorporationsole proprietorship Flag question: Question 10Question 10Tips4 ptsPaul Hyatt owns and operates DeepClean, a Florida-based company that cleans up mold and mildew in homes and businesses. As the sole proprietor of the business, he has unlimited liability, which means:Group of answer choiceshe has unlimited access to fundshe is fully liable for all business debtshe usually has to put in an unlimited number of hourshe must have liability insurancehe is free from government regulation Flag question: Question 11Question 11Tips4 ptsA term that means that business damages and/or debts can also be attached to the personal assets of the owners is ______ liability.Group of answer choiceslimitedinformalfundingunlimitedasset Flag question: Question 12Question 12Tips4 ptsWhich of the following is a disadvantage of sole proprietor ownership?Group of answer choicesDifficulty in raising capitalNo special taxationEase of dissolutionEase of formationFreedom from government regulation Flag question: Question 13Question 13Tips4 ptsWhich of the following is a disadvantage of sole proprietor ownership?Group of answer choicesEase and low cost of formationFreedom from government regulationAll profits to the ownerUnlimited liabilityEase of dissolution