Question 1 (1 point)

Saved

What is the most popular form of business in the world?

Question 1 options:

	Sole proprietorship
	Corporation
	Partnership
	Joint venture

Question 2 (1 point)

Saved

A sole proprietorship is the same as a partnership.

Question 2 options:

	True
	False

Question 3 (1 point)

Saved

A partnership consists of:

Question 3 options:

	Partners
	Shareholder
	Proprietors
	All of the above

Question 4 (1 point)

Saved

Professionals (such as lawyers or doctors) commonly form partnerships as:

Question 4 options:

	Limited Liability Corporations
	Limited Liability Partnerships
	Limited Partnership
	Sole Proprietorships

Question 5 (1 point)

A franchise requires which of the following?

Question 5 options:

	A lawyer
	Disclosure documents
	At least 5 locations
	A minimum fee of $100,000

Question 6 (1 point)

Saved

Franchises are guided under which law?

Question 6 options:

	Alberta's Business Corporations Act
	Canada's Business Act
	Franchises Act
	Securities Act

Question 7 (1 point)

Saved

If Joey (Cafe owner) dies in a franchise situation, what is the likely result?

Question 7 options:

	The franchise agreement will terminate
	The franchise fee goes higher
	The government will tax his corporation at a higher rate
	None of the above

Question 8 (1 point)

Saved

In Canada, the Securities Act regulates the marketplace only within provinces.

Question 8 options:

	True
	False

Question 9 (1 point)

Saved

Who regulates the marketplace in Alberta, and has power to issue court orders against people?

Question 9 options:

	Alberta Marketplace Regulators
	Securities Clearance Agency
	Business Market Regulators
	Alberta Securities Commission

Question 10 (1 point)

Saved

Corporations in Canada can be:

Question 10 options:

	Provincial only
	Federal only
	Either provincial or federal
	Municipal only

Question 11 (1 point)

Saved

How are corporations given an identity?

Question 11 options:

	It can be a numbered corporation
	It can be a named corporation
	It can be given a Corporate Access Number
	All of the above

Question 12 (1 point)

How does one normally incorporate in Canada?

Question 12 options:

	Through a provincial registry office
	Through the courts
	Through a municipality
	Through the Canada Revenue Agency

Question 13 (1 point)

Saved

A shareholder must approve any fundamental changes before signing a Unanimous Shareholder Agreement.

Question 13 options:

	True
	False

Question 14 (1 point)

Saved

The profits of a corporation that are distributed to shareholders are commonly known as:

Question 14 options:

	Royalties
	Dividends
	Debts
	Duties

Question 15 (1 point)

Saved

A shareholder has which of these rights?

Question 15 options:

	Right to profits
	Right to attend meetings
	Right to vote
	All of the above

Question 16 (1 point)

Saved

An incorporator is one who establishes a partnership.

Question 16 options:

	True
	False

Question 17 (1 point)

Saved

Which agency in Canada regulates IP?

Question 17 options:

	CIPO
	CIPP
	CANA
	CIPD

Question 18 (1 point)

Saved

Which of the following is a trademark?

Question 18 options:

	Logo
	Written publication
	Invention
	Movie

Question 19 (1 point)

Saved

A patent lasts for:

Question 19 options:

	5 years
	10 years
	20 years
	50 years

Question 20 (1 point)

Saved

How can a business owner check to see if a trademark is already used in Canada?

Question 20 options:

	Call the police
	Check the Trademarks Journal
	Google it!
	None of the above

Question 21 (1 point)

Saved

The proper legal term for any violation of a copyright is 'infringement'.

Question 21 options:

	True
	False

Question 22 (1 point)

Saved

A patent is a monopoly recognized by law.

Question 22 options:

	True
	False

Question 23 (1 point)

Saved

All property in Canada is owned by:

Question 23 options:

	The Crown
	Indigenous peoples
	Businesses
	None of the above

Question 24 (1 point)

Who is responsible for maintaining registration of title?

Question 24 options:

	Municipalities
	Provincial governments
	Federal governments
	Corporations

Question 25 (1 point)

Saved

An easement is a right of way.

Question 25 options:

	True
	False

Submit Quiz22 of 25 questions saved