Type of Business

Type of Business

Assessment

Flashcard

History

9th - 12th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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41 questions

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1.

FLASHCARD QUESTION

Front

What is a business owned and operated by one person?

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Back

Sole Proprietorship

2.

FLASHCARD QUESTION

Front

What is a business owned by stockholders/investors but operated by others? Options: Sole Proprietorship, Partnership, Corporation

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Back

Corporation

3.

FLASHCARD QUESTION

Front

What is a business owned and operated by two or more people? Options: Sole Proprietorship, Partnership, Corporation

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Back

Partnership

4.

FLASHCARD QUESTION

Front

What is ONE advantage of a sole proprietorship?

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Back

You make ALL the decisions

5.

FLASHCARD QUESTION

Front

Which is ONE disadvantage of Sole Proprietorship? Options: Less direct control, Disagreements, Hard to raise money

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Back

Hard to raise money

6.

FLASHCARD QUESTION

Front

What is ONE advantage of a Partnership?

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Back

Someone else can help with decisions, etc.

7.

FLASHCARD QUESTION

Front

What is ONE disadvantage of a Partnership? Easier to start, Have to share the profits, Help in making decisions

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Back

Have to share the profits

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