True or false Sole Proprietorships are the most common type of business organization.

Sole Proprietorships make the most profit.

The main reason that people form general partnerships is to avoid personal liability.

Taxes are lowest for corporations.

Partnerships are often difficult due to conflicts.

Limited Liability Partnerships make you responsible for all members of the partnership.

Stocks represent ownership in a corporation.

Corporations are taxed twice.

A merger between companies that produce the same good or service is a horizontal merger.

Conglomerates produce or market different products.
Agriculture is an example of perfect competition.

Dividends are cash you receive as part of the profits earned by partnerships.

All partnerships must have a Board of Directors.

Assets represent money owed for business debts.
Partnerships can allow for job specialization.

This type of business competition is described as domination by a few, large firms.

Liabilities are company or corporate debt.

Boys and Girl Scouts are an example of nonprofit organizations.

Being the only gas station in town is an example of a monopoly.

Partnerships account for around 90% of the total sales in an industry.

A commodity is a good that is considered the same no matter who produces it.

Stock ownership allows someone to invest in a business without being held liable.

The U. S. Postal Service is considered a government monopoly.

Another name for a monopoly is corporation.

Advertising is used to show a consumer how my product differs from others.