3.2 Business Organzations

3.2 Business Organzations

Open Ended

Questions such as

"Who invests"

"Who profits"

"Who takes the risk"

are dependent on what type of _________ it is.

Multiple Choice

What is the most common type of business organiztion?

• Corporation

• Partnership

• Sole Proprietership

Multiple Choice

How many people are invovled with a sole proprietership?

• 1

• 2

• many

Multiple Choice

Sole Proprieterships are easy to form.

• True

• False

Multiple Choice

In a sole proprietership, you get to keep all the profits.

• True

• False

Multiple Choice

If you are a sole proprieter, you bear all of the liability of the company.

• True

• False

Multiple Choice

It is easy to get loans when you are a sole proprieter.

• True

• False

Multiple Choice

A business owned by 2 people is called

• Corporation

• Sole Proprietership

• Partnership

Open Ended

What do you think is one of the best advantages of a Partnership?

Open Ended

What do you think it means that "life of the company is lmited" in a sole proprietership and a partnership?

Multiple Choice

Who owns a corporation?

• CEO

• stockholders

• Entrepreneur

Multiple Choice

Which type of business is responsible for 90% of goods and services sold in the US?

• Corporations

• Sole Proprieterships

• Partnerships

Multiple Choice

In a corporation, the owner is liabile for the risks of the business

• True

• False

Multiple Choice

A corporation is easy to start.

• True

• False

Multiple Choice

Corporations are taxed twice

• True

• False

Open Ended

What is the simple reason that someone would buy stocks?

Open Ended

List the 3 ways a corporation makes profit.

Open Ended

You and your best friend just graduated from High School and you decide to start a lawn care business. What type of business organization do you have?

Multiple Choice

When we hear reports of "The Dow" "NASDAQ" "Wall Street" we are hearing about what?

• stocks being bought and sold

• corporations going bankrupt

• shareholders dominating the company