Business Ownership

Only liable for up to the amount invested into the company, and has little to no voice in management.

• General Partner
• Proprietor
• Limited Partner
• Corporation

What is the most common form of business ownership?

• Corporation
• Company
• Sole Proprietorship
• LLC

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

• Sole Proprietorship
• Company
• Partnerships

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

• Stakeholder
• Shareholder
• Trust Agent
• Chairman

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

• Limited Liability Company
• Trust
• Company

This type of business is subject to many more laws and are more difficult to form.

• Proprietorship
• Partnership
• Corporation
• Franchise

The major policy and financial decision makers of a corporation are determined by the...

• CEO/GM/President
• Chairman of the Board
• Shareholders
• Board of Directors

Which of the following is an advantage of a partnership?

• Unlimited Liability
• Arguments
• Shared responsibility
• Less investors

Owned by one individual.

• Proprietorship
• Partnership
• Corporation
• None of the above

Owned by two or more individuals.

• Proprietorship
• Partnership
• Corporation
• None of the above