13: American Business Machines is organized as a corporation. Its income will be taxed first at the corporate level and also on shareholder tax returns as
dividends. This situation is known as
A.a tender offer.
14: Under the concept of _______ a sole proprietor is personally responsible for all debts generated by a business.
B.employment at will
15: Casino Systems and the Hamilton Race Track have collaborated to develop software for sale to other racetracks. Cisco and Hamilton are most likely involved
16: A(n) __________ invests money in a partnership but is liable only to the extent of his/her investment.
17: When a firm sells part of itself in order to raise capital it is referred to as a(n)
18: Which of the following is a common source of funding for a small business?
A.family and friends
E.all of the above
19: A _________________ is independently owned and managed and does not dominate its market.
20: Small business consultants often recommend ____________ because the odds of success are better.
B.starting the business from scratch
C.buying an existing business
E. none of the above