[ SAE ] TOEFL Full Listening Practice -With Answer 1 What is the lecture mainly about? a How to form corporations b Types of business organizations c Differences between a proprietorship and a partnership d Differences between a partnership and a corporation 2 In the lecture, the professor describes some characteristics of a corporation. Indicate whether each is a characteristic. (YES or NO) a) Personal liability b) Officers own the company. c) Shareholders control the company's ownership. d) Board of Directors makes daily operating decisions 3 Why does the professor mention that many new businesses fail within the first two years? a To discourage new business starts b To show how much information he has obtained about new businesses c To explain why it is important to know types of business d To explain why people may need to have financial help in starting a business 4 According to the professor, what is one characteristic of a sole proprietorship? a People can begin business more quickly b People are provided with many choices for a type of business c People can take advantage of friends' advice d People can lose money quickly 5 What does the professor mean when he says this? a He wants the students to think about why they are going into business. b He thinks going into business together promotes friendship c He wants to explain students realities of life d He thinks the students can make good decisions about such matters 6 Why does the professor say this? a You have someone to complain to b You know someone understands your problems c You can get help before you have customer complaints d Advisors will help you when you have problems Answers are at the bottom . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Answers -- 1b, 2 yes- c, no- a, b, d 3c, 4a, 5c, 6d