Forms of Business Ownership

Front

How many people can be in a partnership? Options: 2, 2-10, 2-20, Unlimited

Back

2-20

Front

What is the biggest risk of starting a new business? Options: Losing Money, Making Money, Being Successful, Failing

Back

Failing

Front

Which of the following is an example of a franchise? McDonalds, Lightcliffe Academy, Sports Direct, Primark

Back

McDonalds

Front

Which of the following is an advantage of a partnership? Unlimited Liability, Arguments, Shared responsibility, Less investors

Back

Shared responsibility

Front

What is the name of a person who owns part of a corporation?

Back

Shareholder

Front

What is the most common form of business ownership? Options: Corporation, Company, Sole Proprietorship, LLC

Back

Sole Proprietorship

Front

This type of business is subject to many more laws and are more difficult to form.

Back

Corporation

Front

The major policy and financial decision makers of a corporation are determined by the...

Back

Board of Directors

Front

This type of organization is a legal entity separate from its owners.

Back

Corporation

Front

Which of the following best describes the term limited liability? If the business fails:

Back

The owner only loses the amount invested in the business.