M.C.Q

01. An association of two or more people is called which business?

A) Partnership business
B) Company business

02. Which business is much likely to being in marriage?

A) Partnership business
B) Company business

03. Partnership agreement contains which kind of business?

A) Partnership business
B) Company business

04. Which company at began start as a partnership business?

A) Microsoft
B) Assus

05. Microsoft is founded as a partnership business in which year?

A) 1965
B) 1945

06. Which partner takes an active role in managing a business?

A) General partner
B) Limited partner

07. Which partner has an unlimited liability for the partnership debt?

A) General partner
B) Limited partner

08. Which partner cannot participate in the day to day management of a company?
A) Limited partner
B) General partner

09. Which partner has a limited liability of the business?

A) Limited partner
B) General partner

10. In the limited liability partnership business all partners are?

A) Limited partner
B) General partner

11. Which is the form of limited partnership business?

A) Master limited partnership
B) General partnership

12. Which partnership business share is traded in stock market?

A) Master limited partnership
B) General partnership

13. Which partnership business has the same advantage as corporation?

A) Master limited partnership
B) General partnership

14. Which one the new form of partnership business?

A) Master limited partnership
B) General partnership

15. Which one is the advantage of partnership business?

A) Easy to establish
B) Hard to establish

16. Which one is the advantage of partnership business?

A) Complementary skills of partners
B) Hard to establish

17. Which one is the advantage of partnership business?

A) Division of profit
B) Small profit


18. Which one is the advantage of partnership business?

A) Large pool of capital
B) Small capital

19. Which one is the advantage of partnership business?

A) Ability to attract limited partner
B) Don’t have the ability to attract limited partner

20. Which one is the activity of limited partner?

A) Perform day to day operation
B) Don’t perform any activity

21. Which kind of partner is a financial investor with limited liability?

A) Limited partner
B) General partner

22. Which partner does not participate in day to day operation?

A) Limited partner
B) General partner

23. Which business has less government regulation compared to any other business?

A) Partnership business
B) Company business

24. Which business does not have any kind of tax?

A) Partnership business
B) Company business

25. Which business is flexible compared to any other business?

A) Partnership business
B) Company business

26. In which business general partner has unlimited liability?

A) Partnership business
B) Company business

27. Which business can not collect capital from share market?

A) General partnership business
B) Master limited partnership business

28. Which business is difficult to disposing partnership interest?

A) Partnership business
B) Company business


29. Which business has lack of continuity?

A) Partnership business
B) Company business

30. If one partner dies in a partnership business then what happen to the partnership business?

A) Complication arise
B) No complication arise

31. Which one are the disadvantages of partnership business?

A) Personality and authority conflict
B) No conflict arise

32. Which business is an artificial being in business?

A) Company business
B) Partnership business

33. Which business only exists in the contemplation of the law?

A) Company business
B) Partnership business

34. Which corporation doing business in the state in which it is incorporated is called?

A) Company business
B) Partnership business

35. Which corporation doing business in the state other than the state in which incorporated is called?

A) Company business
B) Partnership business

36. Which corporation formed in another country but doing business in the united state is called?

A) Company business
B) Partnership business



37. Which one are the advantages of the company?

A) Limited liability of the stockholder
B) Unlimited liability of the stockholder

38. Which one are the advantages of the company?

A) Ability to attract capital
B) Does not has the ability to attract capital

39. Which one are the advantages of the company?

A) Ability to continue indefinitely
B) Does not continue very much long

40. Which one are the advantages of the company?

A) Transferable ownership
B) Ownership can not be transferable

41. Which one are the disadvantages of the company?

A) Cost and time of incorporating
B) Less costly to incorporating

42. Which one are the disadvantages of the company?

A) Double taxation
B) Single taxation

43. Which business pay corporate tax then give dividend?

A) Company business
B) Partnership business

44. Which one are the disadvantages of the company?

A) Complex legal requirement
B) Simple legal requirement

45. Which corporation does not different from any other corporation from a legal perspective?

A) S corporation
B) C corporation

46. Which corporation taxed like a partnership?

A) S corporation
B) C corporation

47. Which corporation must fill with the IRS within the first 75 days of the tax year?

A) S corporation
B) C corporation

48. Which corporation is the reassemble version of S corporation?

A) limited liability corporation
B) Professional corporation

49. Which one document is required to open a limited liability corporation?

A) Article of the organization
B)

50. Which one document is required to open a limited liability corporation?

A) Opening agreement

51. Which corporation can not have two out of four characteristics?

A) limited liability corporation
B) Professional corporation

52. Which one lies on the professional corporation?

A) Lawyer
B) Businessman

53. Which one lies on the professional corporation?

A) scientist
B) Businessman

54. Which one lies on the professional corporation?

A) Doctor
B) Businessman


55. Which one lies on the professional corporation?

A) accountant
B) Businessman

56. In which corporation no one is liable for other malpractice?

A) Professional corporation
B) limited Liability Corporation

57. Franchising word comes from which word?

A) Franchir
B) Franchor

58. What does franchir means?

A) Free
B) Market

59. ---------------- occurs when the franchisee market a product or service develop by the franchisor.

A) Franchising
B) Partnership

60. Two party legal agreement are compulsory in which kind of business/

A) Franchising
B) Partnership

61. Who pays a free to operate under a brand name?

A) Franchisee
B) Franchisor

62. Who pays a royalty percentage of the sales?

A) Franchisee
B) Franchisor

63. Who use a franchisor trade mark?

A) Franchisee
B)

64. A ----------- is continuing agreement between a parent company and an entrepreneur?

A) Franchise
B) Partnership

65. Who takes a royalty percentage of the sales?

A) Franchisor
B) Franchisee

66. A ------------ is a continuing relationship between the franchisor and franchisee

A) Franchise
B) partnership

67. Which one is the advantage of franchising business?

A) Quick and easy to start
B) Very hard to start those business

68. ---------------- is the most quick and easy entrepreneurial option to start a new venture with establish product and firm reputation.

A) Franchising
B) partnership

69. Which one is the advantage of franchising business?

A) Marketing research and site selection
B) Very costly to start

70. ------------ provide help for selecting site location by giving site criteria and expert assistance for choosing the best fit location.

A) Franchisor
B) Franchisee

71. choosing the best site to run the business are select y whom?

A) Franchisor
B) Franchisee

72. Which one is the advantage of franchising business?

A) Training proved to owners and staff
B) Does not give any kind of training
73. -------------- is ordinary supplemented with subsequent training and guideline.

A) Initial training

74. Which one is the advantage of franchising business?

A) Proven product
B) Unknown product

75. A ---------------- gets along standing proven method of operating system that increase future successful operation and sustainability

A) Franchise
A) Franchisor

76. Which one is the advantage of franchising business?

A) Large scale advertising
B) No advertising

77. A franchise gets the benefit of nation wide and international ---------- promoted by the franchisor.

A) Advertising

78. Which one is the advantage of franchising business?

A) Less risk
B) High risk

79. Who takes the product and methods of operation of a reputed well establish enterprise?

A) Franchise
A) Franchisor

80. Which business is less risk business compared to other form of business?

A) Franchising
B) partnership

81. Whose product is market tested and popular too?

A) Franchisor
B) Franchisee


82. Whose product or service faces less market threats and obstructions?

A) Franchisor
B) Franchisee

83. Which one is the advantage of franchising business?

A) Financial assistance
B) Non financial assistance

84. The cost of starting a independent business are---------- and the typical entrepreneur source of capital are quite -------------.

A) High, limited
B) Low, infinity

85. Which one is the advantage of franchising business?

A) Higher potential income
B) Low income

86. In which business income potential is high?

A) Franchising
B) partnership

87. With guaranteed product, management assistance, market, and continued assistance, the----------- has got higher possibility of income and prosperity?

A) Franchise
B) Franchisor

88. Which one is the advantage of franchising business?

A) New product development
B) No developed product

89. Who gets a newly developed of the franchisor without involving into research and development?

A) Franchise
B) Franchisor

90. -------------- gives an enormous opportunity for the franchise to expend its business as well as to sustain in the market strongly for the long time?

A) New product and development
B) Old product

91. Which one is the advantage of franchising business?

A) Proven trade mark and logo
B) New trade mark

92. --------------- gives the franchise market protection and future certainty?

A) Proven trade mark and logo
B) New trade mark

93. Which one is the disadvantage of franchising business?

A) Rigid system and no room for deviation
B) Proven trade mark

94. Which one is the disadvantage of franchising business?

A) Huge cost to entry a successful operation
B) Proven trade mark

95. ----------- cost has several components

A) Franchise

96. A ------------ is a reputed firm always costly

A) Franchising

97. Which one is the disadvantage of franchising business?

A) Profit are shared with franchisor
B) Huge volume of profit

98. Which business profit is divided between franchisor and franchise?

A) Franchising
B) partnership

99. Which one is the disadvantage of franchising business?

A) Lack of independence
B) Total control of business

100. The ------------- entrepreneur lacks a considerable amount in signing a franchise

A) entrepreneur
B) Intrapreneur

101. Who are always under supervision?

A) Franchise
B) Franchisor

102. Which one is the disadvantage of franchising business?

A) Continuing obligation
B) Easy to control

103. Which one is the disadvantage of franchising business?

A) Lack of individual separate entity
B) Easy to control

104. Who has to work under the name and fame of the franchisor?

A) entrepreneur
B) Intrapreneur

105. Which one relay on the frequent problems of franchising?

A) Sharing advertising cost
B) Royalty problem

106. Which one relay on the frequent problems of franchising?

A) Inspection and evaluation by franchisor
B) Royalty problem

107. Which one relay on the frequent problems of franchising?

A) Minimum performance requirement
B) Royalty problem

108. Which one relay on the occasional problems of franchising?

A) Royalty problem
B) Minimum performance requirement

109. Which one relay on the occasional problems of franchising?
A) Fees for support service
B) Minimum performance requirement

110. Which one relay on the occasional problems of franchising?

A) Territory limits
B) Minimum performance requirement

111. Which one relay on the rare problems of franchising?

A) Penalties for violation of contract
B) Minimum performance requirement

112. Which one relay on the rare problems of franchising?

A) Restriction on product or prices
B) Minimum performance requirement

113. Which one relay on the rare problems of franchising?

A) Employees conduct or training requirement
B) Minimum performance requirement

114. Which one relay on the rare problems of franchising?

A) Limits on competitive business
B) Minimum performance requirement











Short question:

1. What is partnership business and types of partnership business?

2. Advantage and disadvantage of partnership business?

3. What is corporation and types of corporation?

4. Advantage and disadvantage of corporation?

5. What is franchising?

6. Advantage and disadvantage of franchising?

7. What is the common problem of franchising?