Exit Ticket (11/15/22)

Multiple Choice

What is considered the riskiest form of a new business startup?

• liquidation

• purchasing a franchise

• buying an existing business

• from scratch

Multiple Choice

What is a common advantage of a partnership over a sole proprietorship?

• the partnership avoids certain taxes paid

• the partnership becomes its own legal entity

• the partnership brings in more capital and expertise

• the partnership often shifts liability to the company

Multiple Choice

Dante as a sole proprietor has set up a new iron-making business, which he named Dante’s Inferno. The business requires that he and his workers create their products using ovens that are often almost 3,000 degrees Fahrenheit. Naturally, Dante is concerned about potential accidents and how he might be personally held liable. What could Dante do to eliminate his personal liability and help his business grow?

• liquidate his company

• purchase a franchise

• find a partner

• form a corporation