UMUC MGMT640/ UMUC MGMT640 QUIZ 1

Jun 23rd, 2016
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Question 1. What are the two basic sources of funds for all businesses? Debt Equity Both debt and equity None of the above True or False 2. Working capital management is the management of current assets, such as inventory, and current liabilities, such as money owed to suppliers. True False 3. What are the forms of business organization discussed in this chapter? Sole Proprietorship Partnership Corporation All of the above 4. What is meant by stockholders’ limited liability? That the stockholder’s legal liability extends to all personal assets as well. That the stockholder’s legal liability extends only to the debt owed. That the stockholder’s legal liability extends only to the capital contributed or the amount invested. None of the above 5. What is double taxation? The employees of a corporation are subject to double taxation--first when they get their paychecks and then when they pay state and federal income tax. The owners of a corporation are subject to double

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UMUC MGMT640 QUIZ 1Question1. What are the two basic sources of funds for all businesses?DebtEquityBoth debt and equityNone of the aboveTrue or False2. Working capital management is the management of current assets, such as inventory, andcurrent liabilities, such as money owed to suppliers.TrueFalse3. What are the forms of business organization discussed in this chapter?Sole ProprietorshipPartnershipCorporationAll of the above4. What is meant by stockholders limited liability?That the stockholders legal liability extends to all personal assets as well.That the stockhol

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