
Types of Partnerships
Authored by Steven Howard
Professional Development
11th - 12th Grade
Used 41+ times

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23 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Association of two or more people to co-own a business for profit.
corporation
partnership
sole proprietorship
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A business organization where a legal entity is created by the authority of federal or state law; Exists separately from people who run it or own it
partnership
sole proprietorship
corporation
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Company owned by one person
partnership
sole proprietorship
corporation
4.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Jackie needs to raise a large amount of capital to open additional restaurants. She wants to limit her personal liability. She should consider establishing her business as a
general partnership
corporation.
sole proprietorship.
limited proprietorship
5.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Joe is starting a small home-based consulting business. He possesses computer knowledge but lacks marketing skills. The form of business ownership that Joe might consider establishing is a(n)
corporation
sole proprietorship
monopoly
general partnership.
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A business owner who prefers to maintain complete control of all business activities might consider structuring the venture as a(n)
sole proprietorship
general partnership.
franchise
corporation.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a disadvantage of corporations:
High taxes
Unlimited life
Unlimited liability
financial power
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