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标题: Economics: Microeconomic Analysis - Reading 16: Organizing P [打印本页]

作者: mayanfang1 时间: 2008-12-31 10:32 标题: [2009]Session 4: Economics: Microeconomic Analysis - Reading 16: Organizing P

Q1. For which of the following organizational structures is (are) the entire wealth of the owner(s) at risk?

A) Proprietorships only.

B) Partnerships and proprietorships.

C) Corporations.

Q2. Consider the following two business firms:

Firm 1 has more than one owner. Each owner’s legal liability for the debts and obligations of the firm can exceed the amount they have invested in the firm.

Firm 2 is a legal entity that pays income taxes.

Which choice most accurately describes the type of business organization characterized by Firm 1 and Firm 2?

Firm 1 Firm 2

A) Partnership Corporation

B) Corporation Corporation

C) Partnership Proprietorship

Q3. Of the indicated type of business organization which of the following potential disadvantages are most likely to be associated with it?

A) Proprietorship; double taxation.

B) Corporation; principal-agent problem.

C) Proprietorship; principal-agent problem.

作者: mayanfang1 时间: 2008-12-31 10:32

答案和详解如下：

Q1. For which of the following organizational structures is (are) the entire wealth of the owner(s) at risk?

A) Proprietorships only.

B) Partnerships and proprietorships.

C) Corporations.

Correct answer is B)

The owners (shareholders) of a corporation have only the amount of their investment at risk. This is referred to as limited liability.

Q2. Consider the following two business firms:

Firm 1 has more than one owner. Each owner’s legal liability for the debts and obligations of the firm can exceed the amount they have invested in the firm.

Firm 2 is a legal entity that pays income taxes.

Which choice most accurately describes the type of business organization characterized by Firm 1 and Firm 2?

Firm 1 Firm 2

A) Partnership Corporation

B) Corporation Corporation

C) Partnership Proprietorship

Correct answer is A)

Firm 1 is a partnership. If it were a corporation, the owners’ liability would be limited to the amount they have invested. Firm 2 is a corporation, the only type of business organization that pays income taxes. Proprietorship or partnership income flows through to the individual owners, who pay personal income taxes on it.

Q3. Of the indicated type of business organization which of the following potential disadvantages are most likely to be associated with it?

A) Proprietorship; double taxation.

B) Corporation; principal-agent problem.

C) Proprietorship; principal-agent problem.

Correct answer is B)

The principal-agent problem arises when the incentives and motivations of managers and workers (agents) are not the same as the incentives and motivations of their firm’s owners (principals). The principal-agent problem is associated with the corporate form of business organization, where the owners of the firm are its shareholders.

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