2. Unit 2 Review Jeopardy ( Ch. 5-7 ) 50 40 10 20 30 50 40 10 20 30 50 40 10 20 30 50 40 10 20 30 50 40 10 20 30 Corporations Proprietorship & Partnerships Business Taxes Miscellaneous Business Regulations 60

3. A business owned by 2 or more people What is a Partnership?Partnership Click Below to Reveal Answer INCORRECTCORRECT

4. A business owned and managed by one person. What is a Sole Proprietorship? Click Below to Reveal Answer INCORRECTCORRECT

5. The greatest disadvantage of a partnership or sole proprietorship. What is an Unlimited Liability? Click Below to Reveal Answer INCORRECTCORRECT

6. The most common form of business organization in the U.S. What is a Sole Proprietorship? Click Below to Reveal Answer INCORRECTCORRECT

7. Formation that restricts the liability of a partner to the amount of the their financial investment. What a Limited Partnership? Click Below to Reveal Answer INCORRECTCORRECT

8. Title of the partner in a limited partnership who assumes unlimited liability. What is a General Partner? Click Below to Reveal Answer INCORRECTCORRECT

9. These people are at the top of the corporation’s organizational chart. Stockholders? Click Below to Reveal Answer INCORRECTCORRECT

10. The greatest disadvantage of the corporate form of ownership. What is Double Taxation? Click Below to Reveal Answer INCORRECTCORRECT

11. Profits distributed to stockholders. What are dividends? Click Below to Reveal Answer INCORRECTCORRECT

12. A type of corporation taxed like a sole proprietorship or partnership and cannot exceed 100 shareholders. What is a Subchapter S Corporation? Click Below to Reveal Answer INCORRECTCORRECT

13. Must be obtained by the state in order to form a corporation. What a Charter? Click Below to Reveal Answer INCORRECTCORRECT

14. Voting option given to shareholders who cannot attend the corporation’s annual meeting. What is a proxy? Click Below to Reveal Answer INCORRECTCORRECT

15. The first major law promoting competition and prohibiting monopolies. What is the Sherman Anti- Trust Act? Click Below to Reveal Answer INCORRECTCORRECT

16. Government agency that monitors price fixing & false advertising. What is Federal Trade Commission? Click Below to Reveal Answer INCORRECTCORRECT

17. Protects inventions for 20 years. What is a patent? Click Below to Reveal Answer INCORRECTCORRECT

18. Government agency that monitors Stocks and Bonds What is the Securities & Exchange Commission (SEC)? Click Below to Reveal Answer INCORRECTCORRECT

19. Amount of time a copyright is protected for. Life + 70 years? Click Below to Reveal Answer INCORRECTCORRECT

20. What is a Natural Monopoly? Click Below to Reveal Answer INCORRECTCORRECT Situation that involves one business providing a public service that has a stable demand and is costly to create.

21. What is an excise tax? Click Below to Reveal Answer INCORRECTCORRECT Sales tax applied to only selected goods or services

22. Also known as a proportional tax. What is a flat tax? Click Below to Reveal Answer INCORRECTCORRECT

23. A tax based on one’s ability to pay. What is a Progressive Tax? Click Below to Reveal Answer INCORRECTCORRECT

24. Tax used to fund schools in the United States. What is Property Tax? Click Below to Reveal Answer INCORRECTCORRECT

25. The largest source of revenue for the federal government. What is income tax? Click Below to Reveal Answer INCORRECTCORRECT

26. On average corporations pay this percent of their profits in various types of taxes. What is 50%? Click Below to Reveal Answer INCORRECTCORRECT

27. Commerce that occurs between businesses in different states. What is Interstate Commerce? Click Below to Reveal Answer INCORRECTCORRECT

28. Form of business ownership taken by many small business owners (acronym is LLC). What is an Limited Liability Company? Click Below to Reveal Answer INCORRECTCORRECT

29. Formal summary of the business and its stock offering. What is a Prospectus? Click Below to Reveal Answer INCORRECTCORRECT

30. Mark Cuban’s company broadcast.com was bought out by this company. What is Yahoo? Click Below to Reveal Answer INCORRECTCORRECT

31. Organizations or individuals who invest in new and expanding businesses in exchange for a percentage of their future profit What is a Venture Capitalist? Click Below to Reveal Answer INCORRECTCORRECT

32. The most common reason that stops people from becoming entrepreneurs. What is Fear of Failure? Click Below to Reveal Answer INCORRECTCORRECT