Thank you.

Which types of business organizations are terminated upon death of the owners?

Multiple Choice

• Sole proprietorships, partnerships, and corporations.

• Sole proprietorships and partnerships, but not corporations.

• Sole proprietorships and corporations, but not partnerships.

• Corporations and partnerships, but not sole proprietorships.

• Sole proprietorships, partnerships, and corporations continue to exist after the death of any owner.

Trampoline Park, Inc. is licensed to sell the new Tramp-o-matic trampoline that is manufactured by SMPB Manufacturing. What type of arrangement is this?

Multiple Choice

• distributorship

• manufacturing arrangement

• chain-style business operation

• franchise

• operational surplus agreement