Paul Hyatt owns and operates DeepClean, a Florida-based company that cleans up mold and mildew in homes and businesses. As the sole proprietor of the business, he has unlimited liability, which means:

a) he usually has to put in an unlimited number of hours

b) he is free from government regulation

c) he has unlimited access to funds

d) he is fully liable for all business debts

e) he must have liability insurance

Which type of business organization experiences the least governmental regulation?

a) Public corporation

b) Sole Proprietorship

c) Joint venture

d) Private corporation

e) Limited partnership

A firm's stockholders have the right to do all of the following EXCEPT:

a) sell or transfer their ownership

b) attend annual meetings

c) get discounts on the company's product or service

d) share in company profits, in the form of dividends

e) elect the board of directors

Clarence Danvers is buying a Cinnabon franchise at the airport in Tulsa. Danvers knows that he will get all of the following benefits EXCEPT:

a)national advertising

b) a proven track record

c) assistance in personal income tax preparation

d) standard goods and services

a set operating procedures