MGT100 - Sole & Partner

Front

business owned by one person

Back

sole proprietorship

Front

Which is NOT an advantage of a sole proprietorship? Easy to start up and close, retain all the profits, No special taxes

Back

limited liability

Front

Which is NOT a disadvantage of a sole proprietorship? Options: unlimited liability, lack of capital, must do all the work

Back

make all the decisions

Front

Which type of ownership is most popular? Options: sole proprietorship, partnership, corporation, LLC

Back

sole proprietorship

Front

person who invests money in a business but has no management responsibility.

Back

limited partner

Front

contract made listing and explaining the terms of a partnership

Back

articles of partnership

Front

A major disadvantage of a partnership includes: limited liability, special taxes, combined business knowledge, management disagreements

Back

management disagreements

Front

Which of the following generates the most revenue? sole proprietorship, partnership, corporation, LLC

Back

corporation