Started on Saturday, 17 December 2022, 12:54 PM

State Finished
Completed on Saturday, 17 December 2022, 1:14 PM
Time taken 20 mins 43 secs
Marks 50.00/50.00
Grade 100.00 out of 100.00
Question 1
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Why would a new business venture choose to operate as a partnership?
Select one:

all of the choices

Relative freedom from government control

Diversity of managerial expertise

Flexibility to respond to changing business conditions

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Question 2
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In General Partnerships, each partner can co-own assets and share profits.
Select one:
True
 False
Question 3
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Which of the following is not a disadvantage of sole proprietorship?
Select one:

Difficulty in raising capital

Limited managerial expertise

Unlimited liability of the owner for debts

none of the choices

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Question 4
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Choose a form of organization by evaluating _____ .
Select one:

all of the choices

The taxes
The ability to attract employees

The degree of operating control the owner can retain

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Question 5
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Why would a new business venture choose not to operate as a partnership?
Select one:

Limited life

all of the choices

Difficulty in leaving a partnership

Sharing of profits
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Question 6
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Why would a new business venture choose not to operate as a partnership?
Select one:

Unlimited liability for general partners

Limited life

all of the choices

Potential for conflict between partners

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Question 7
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which of the following is/are the Advantages of Buying a Business?
Select one:

It may continue to be successful

all of the choices

Employees and
suppliers are established

It may already have the best location

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Question 8
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It protects business buyer from the claims unpaid creditors might have against a company’s
assets.
Select one:

Bulk transfer

Lien

Contract assignment

Restrictive covenant
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Question 9
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In Limited Partnerships, each partner is controlled by one or more general partners who have
unlimited liability.
.
Select one:
True
False
Question 10
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 Flag question
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which of the following is/are the steps of Acquiring a Business?
Select one:

Explore financing

options.

Ensure a smooth transition.

Investigate and evaluate candidate businesses and select the best one.

all of the choices

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Question 11
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Franchises will be taking care of my business problems.
Select one:
True
False
Question 12
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 Flag question
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Franchises will be the cheapest business option.
Select one:
True
False
Question 13
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Franchises will be safer and will not fail.
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True
False
Question 14
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In General Partnerships, each partner is individually liable for all debts and contracts of the
partnership.
Select one:
True
False
Question 15
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which of the following is/are the Disadvantages of Buying a Business?
Select one:

Previous owner may have created ill will

"Inherited” employees may be unsuitable

“It’s a loser”

all of the choices

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Question 16
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Choose a form of organization by evaluating _____ .

Select one:

The aims and objectives of the various business

all of the choices

the taxes
The desire of how to/not to share profits
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Question 17
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There are some negative attributes of buying a franchise and those include?
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Restrictions on purchasing

Strict adherence to standardized operations

Franchise fees and profit sharing

all of the choices

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Question 18
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Which of the following is not an advantage of sole proprietorship?
Select one:

Ease of dissolution
Absence of special taxes
Owner’s rights to all profits

none of the choices

Relative freedom from government regulation

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Question 19
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There are some negative attributes of buying a franchise and those include?
Select one:

Market saturation

Unsatisfactory training programs

Limited product line

all of the choices

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Question 20
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which of the following is/are the Advantages of Buying a Business?
Select one:

Inventory is in place and trade credit is established

all of the choices

Equipment is already installed

You

can “hit the ground running”

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Question 21
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The contract in which a business seller agrees not to compete with the buyer within a specific
time and geographic area.
Select one:

Lien

Bulk transfer

Contract assignment

Restrictive covenant
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Question 22
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The step/s to consider in buying a franchise is/are _____ .
Select one:

Research your market

all of the choices

Evaluate yourself

Consider your franchise options

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Question 23
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which of the following is/are the Disadvantages of Buying a Business?
Select one:

Equipment may be obsolete or inefficient

Change and innovation can be difficult to implement

Location may have become unsatisfactory

all of the choices
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Question 24
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Franchises will be a business “I” can run things the way “I” want to.
Select one:
True
False
Question 25
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The creditors’ claims against an asset.
Select one:

Contract assignment

Restrictive covenant

Bulk transfer

Lien
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Question 26
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In Limited Partnerships, the dormant partners’ liability is limited to their investment.
Select one:
True
False
Question 27
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Which of the following is not an advantage of sole proprietorship?
Select one:

Owner’s absolute control of the business

Owner’s rights to all profits

Ease and low cost of formation

none of the choices

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Question 28
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Franchises will be economical.
Select one:
True
False
Question 29
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Franchises will be a business anyone can do.
Select one:
True
False
Question 30
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which of the following is/are the Disadvantages of Buying a Business?
Select one:

Accounts receivable may be worth less than face value

Inventory may be stale

It may be overpriced

all of the choices

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Question 31
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Remain calm during the negotiation.
Select one:

Persistence

Preparation

Patience

Poise
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Question 32
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Franchises will be more successful based on its size.
Select one:
True
 False
Question 33
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Franchises will enable the owner to be removed from day–to–day management.
Select one:
True
False
Question 34
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Choose a form of organization by evaluating _____ .
Select one:

The ease and cost of forming the business

The ability to raise funds

Owner’s liability for firm’s debts

all of the choices

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Question 35
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Franchises will be “all the same”.
Select one:
True
False
Question 36
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Franchises will be able to have improvement potential.
Select one:
True
False
Question 37
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In Limited Partnerships, the dormant partners’ do not participate actively in the firm’s
operations.
.
Select one:
True
False
Question 38
Correct
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Examine the needs of both parties and all of the relevant external factors affecting the
negotiation before you sit down to talk.
Select one:

Preparation

Persistence

Patience

Poise
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Question 39
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The step/s to consider in buying a franchise is/are _____ .
Select one:

Ask the franchiser some tough questions

Talk to existing franchisees

all of the above

Make your choice
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Question 40
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The benefits of franchising have proven to have a positive impact on the success rate of
franchises, beginning in the first year of operation, compared to nonfranchise ventures.
Select one:
True
False
Question 41
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One of the primary reasons for interest in a franchise system is that the franchisee is able to tap
into the proven experience and guidance that the franchise offers.
Select one:
True
False
Question 42
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Question text
Which of the following is/are the types of franchising systems?
Select one:

all of the choices

Product distribution franchising

Tradename franchising

Pure (or comprehensive or business format) franchising

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Question 43
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Which of the following is not a disadvantage of sole proprietorship?
Select one:

Difficulty in attracting qualified employees

Large personal time commitment

none of the choices

Unstable business life

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Question 44
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 Flag question
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which of the following is/are the Disadvantages of Buying a Business?
Select one:

Accounts receivable may be worth less than face value

Inventory may be stale

all of the choice

Changes can be difficult to implement

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Question 45
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Don’t be in such a hurry to close the deal that you end up giving up much of what you hoped
to get.
Select one:

Poise

Patience

Persistence

Preparation
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Question 46
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Which of the following is/are the benefits of franchising?
Select one:

all of the choices

Site selection and territorial protection

Centralized buying power

Greater chance for success

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Question 47
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which of the following is/are the Advantages of Buying a Business?
Select one:

You can use the previous owner’s experience

Easier financing
It’s a bargain

all of the choices

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Question 48
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The buyer’s ability to assume rights under seller’s existing contracts.
Select one:

Bulk transfer

Restrictive covenant

Lien

Contract assignment
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Question 49
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Which of the following is/are the benefits of franchising?
Select one:

all of the choices

Financial assistance

National advertising programs

Proven products and business formats

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Question 50
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Which of the following is/are the benefits of franchising?
Select one:

all of the choices

Standardized quality of goods and services

Management training and support

Brand name appeal

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