Business Ownership

What is the most common form of business ownership?

• Corporation
• Company
• Sole Proprietorship
• LLC

In a sole proprietorship, income and expenses are included on what for the owner?

• Personal tax return
• Corporate tax return
• W-2
• I-9

What is one perk a sole proprietorship does not have access to?

• Employer-funded health insurance
• Tax Breaks
• Both

What is a form of business ownership in which 2 or more people jointly owns a business

• Sole Proprietorship
• Company
• Partnerships

According to the US Census Bureau, how many partnerships existed in the US in 2008?

• 500,000
• 3.1 Million
• 1 Million
• 2 Million

What is a form of general partnership formed for a short period of time? 

• Limited Partnership
• Curtailed Partnership
• Joint Venture
• Timed Partnership

What type of business can be designated as profit or non-profit?

• Corporation
• Company
• Sole Proprietorship
• LLC

What is the name of a person who owns part of a corporation?

• Stakeholder
• Shareholder
• Trust Agent
• Chairman

What kind of corporation can be taxed in the same way as a partnership

• A Corporation
• "B" Corporation
• "C" Corporation
• "S" Corporation

What type of corporation combines the benefits of a partnership and a corporation?

• Limited Liability Company
• Trust
• Company