Choose the best answer. Each correct answer carries 2 marks. 1. What type of organization is owned by ONE person, is the simplest organization type, and has unlimited liability? a. Proprietorship b. Partnership c. Corporation d. Multinational 2. Air Canada is an example of a. service industry b. merchandising industry c. manufacturing industry d. all of the above 3. The form of business organization that enables limited owner liability is: a. Proprietorship b. Partnership c. Corporation d. None of the above 4. Accounting involves the design of: a. Information systems to provide useful reports to monitor and control an organization's activities b. An efficient warehouse to enable free flow of goods c. An effective transportation system to deliver products efficiently to customers d. Marketing programs to help manage customer demands and anticipate future inventory requirements. 5. The professional association CPA Canada requires its members to maintain a commitment to: a. Environmental sustainability reporting b. Ethical decision making to benefit the largest number of stakeholders c. Human resource programs that provide gender neutral equal opportunities and pay d. Provide mentor opportunities for new accountants to develop skills and experience