A partnership formed to operate for a specific time period or to accomplish a specific purpose is known as a
A) conglomerate.
B) cooperative.
C) joint venture.
D) corporation.
E) joint merger.
Question 2 - Since business has been rapidly expanding, A Shot of Sugar Bakery decides to purchase a second industrial oven. The cash paid for this oven would be listed in the ____ section of the statement of cash flows.
A) operating
B) purchasing
C) investing
D) financing
E) business
Question 3 - Which of the following forms of reinforcement is considered the most effective?
A) Positive reinforcement
B) Continual, repetitive reinforcement
C) Negative reinforcement
D) Extinction
E) Disciplinary reinforcement
Question 4 - The capital expenditure budget:
A) provides quarterly estimates of the number of units of each product a firm expects to sell.
B) identifies a firm's planned investments in major fixed assets and long-term projects.
C) identifies short-term fluctuations in cash flows that display cash deficits and surpluses.
D) contains the budgets for direct labor, direct materials, and overhead costs.
Question 5 - Not-for-profit organizations must meet specific guidelines in order to obtain tax-exempt status. These guidelines are structured by the
A) board of directors.
B) U.S. Uniform Partnership Act.
C) U.S. Bureau of the Census.
D) Chamber of Commerce.
E) Internal Revenue Service.
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