This focus of this test on general terms used in the lifes of business associations. Find the most appropriate term from the list.

START
Every company is directed by a __________ or a Board of Directors.
boss
leader
director
head
 
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The list of the items discussed at a meeting is the ____________.
diary
log
agenda
outline
 
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A person doing business alone on his/her own account is a(n) __________.
sole proprietor
entrepreneur
contractor
undertaker
 
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The two fundamental forms of doing business in association with others is the company and the ___________.
cooperation
venture
consortium
partnership
 
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The most typical document used for incorporating a company is called _________.
articles of association
deed of donation
establishing document
certificate of good standing
 
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A person with an interest in a company usually owns ___________.
shares
rights
power
proxy
 
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The supreme decision making body of a company is generally called the __________ meeting.
management
supervisory
general
audit
 
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The discussions at corporate meetings are recorded in _________.
paper
minutes
deed
notice
 
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The person having an interest in a partnership is referred to as a __________.
person
partner
proxy
peer
 
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The directors may vote for or against a proposed action, or may ____________.
derogate
stay
opt out
abstain
 
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To establish a company, one needs to contribute funds called _________.
equity
principal
capital
funds
 
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The liability of the owner of a company is usually __________.
limited
reduced
capped
maximized
 
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_________ law regulates the operation of various companies.
Company
Case
Cooperative
Commercial
 
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Companies hold regular _________ to discuss matters.
negotiations
trials
sittings
meetings
 
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A company is entitled to conduct ___________ activity.
business
accounting
regular
professional
 
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The daily activity of the company is managed by its ___________.
superiors
officers
auditors
presidents
 
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A company unable to repay its debts may be ____________.
closed
ended
cleared
liquidated
 
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The shareholders are not _________ for the debts of a corporation.
liable
answerable
in charge of
controlling
 
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Every business must prepare certain ________ reports.
booking
financial
company
profit
 
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The _________ are the owners of a corporation.
members
partners
managers
shareholders
 
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