5) Low start-up costs, simplicity in formation, and freedom are advantages in es

Question

5) Low start-up costs, simplicity in formation, and freedom are advantages in establishing a A) partnership B) joint venture. C) co-operative. D) corporation E) sole proprietorship. 6) With regard to the BRIC countries, it is correct to say that A) Russia is the strongest in terms of manufacturing. B) they all have a low level of industrialization at the moment, but are progressing C) they all have a rapidly growing consumer market and middie class. D) they all emphasize the export of raw materials. E) All of these statements are correct rapidly 7) Managers focus on plans, results, and goals, whereas leaders focus on A) productivity. B) profitability C) controlling for results D) people E) sales. 8) Why is it often difficult for managers to decide whether to use product or geographic departmentalization? A) Because communicating with far-flung parts of an organization is now easier than it used to be B) Because product and geographic departmentalization each have advantages and disadvantages C) Because consumer tastes are constantly changing D) Because global competition is so intense E) Because managers in foreign countries overstep their authority and have to be reined in 9) Which of the following is one of the factors which helps to explain the lack of growth in union membership? A) Lower unemployment rates B) Lack of effort in recruiting new union members C) Higher profitability of businesses D) The workforce is increasingly employed in the high-tech sector E) Effective anti-union strategies of employers

Explanation / Answer

5) The correct answer is option E.

Sole proprietor is the simplest and basic business form which has single owner. The income and expenses of sole proprietorship are based on the personal income tax return of the owner. So all the debts and action of the company are the responsibility of business owner. The advantages of sole-proprietorships are: -

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