An association of two or more persons for the purpose of engaging into a business for profit is called ____________________?

Related Mcqs:

1. The profit derived from a project or business enterprise without consideration of obligations to financial contributors and claims of others based on profit is known as _____________________?

   A. Yield
   B. Economic return
   C. Earning value
   D. Gain

2. A form of business organization in which a person conducts his business alone and entirely for his own profit, being solely responsible for all its activities and liabilities ?

   A. Sole proprietorship
   B. Entrepreneurship
   C. Partnership
   D. Corporation

3. Aggregation of individuals formed for the purpose of conducting a business and recognized by law as a fictitious person is called ________________________?

   A. Partnership
   B. Investors
   C. Corporation
   D. Stockholders

4. The first cost to be incurred if the piece of equipment now in place had been bought for a second hand dealer or some other business is called ____________________?

   A. Material cost
   B. Fixed cost
   C. First cost
   D. In-place value

5. The amount of company’s profit that the board of directors of the corporation decides to distribute to ordinary shareholders is called ___________________?

   A. Dividend
   B. Return
   C. Share of stock
   D. Equity

6. The flow back of profit plus depreciation form a given project is called ___________________?

   A. Capital recovery
   B. Cash flow
   C. Economic return
   D. Earning value

7. All the proceeds which are received by the business as a result of the sale of goods is called _________________?

   A. Net income
   B. Gross income
   C. Net revenue
   D. Total sales

8. A form of business firm which is owned and run by a group of individuals for their mutual benefit is called ___________________?

   A. Cooperative
   B. Corporation
   C. Enterprise
   D. Partnership

9. Gross margin is the ratio of the gross profit to _________________?

   A. Net sale
   B. Owner’s equity
   C. Inventory turnover
   D. Quick assets

10. The functional depreciation is sometimes called ____________________?

    A. Demand depreciation
    B. Adolescence
    C. Life depreciation
    D. Failure depreciation