Types of Business Organization

Front

A company wants to computerize its accounting system. It issues stocks to raise additional funds. What type of business is this?

Back

Corporation

Front

What type of business structure is formed when two individuals, like Mario and Luigi, start a plumbing company together and split the profits and expenses? Options: Sole Proprietorship, Partnership, Corporation

Back

Partnership

Front

What type of business structure does Mary have if she opened a dance studio and receives all the profits from her students’ lessons? Options: Sole Proprietorship, Partnership, Corporation

Back

Sole Proprietorship

Front

What type of business structure involves taxation on both the company's income and the dividends paid to stockholders? Options: Sole Proprietorship, Partnership, Corporation

Back

Corporation

Front

What type of business structure do Dan, Tony, and Mac have if they own a pizza parlor and rotate hours and days off? Options: Sole Proprietorship, Partnership, Corporation

Back

Partnership

Front

What type of business does Mr. Wells own if he has to sell his house to pay off his business debts due to struggling sales of baseball cards? Options: Sole Proprietorship, Partnership, Corporation

Back

Sole Proprietorship

Front

What type of business structure is described as consisting of two brothers who are responsible for all profits and risks? Options: Sole Proprietorship, Partnership, Corporation

Back

Partnership

Front

A person who takes a risk to produce goods and services in search of a profit is an entrepreneur. In which kind of business structure may entrepreneurs establish a business? Options: Partnerships and Corporations, Sole Proprietorships, Partnerships, and Corporations, Only Corporations, Sole Proprietorships and Corporations

Back

Sole Proprietorships, Partnerships, and Corporations

Front

What type of business is described in the diagram below? Options: Sole Proprietorships, Partnerships, Corporation

Back

Sole Proprietorships

Front

What characteristic of a corporation is missing from the diagram on the below? Owner shares the profits with family members only, Stockholders share the profits, Main owner receives the majority of profits, Board of Supervisors has the final say on new products

Back

Stockholders share the profits