Business Ownership Review

Physical location of the business is a factor which should influence the type of ownership chosen. 

• True
• False

A _________ forms boards to act as governing bodies. It is the most complicated form of business. 

• Franchise
• Partnership
• Sole Proprietorship
• Corporation

A _________ is owned and operated by one individual; an example would be a self-employed plumber

• Franchise
• Partnership
• Sole Proprietorship
• Corporation

A _________ is the right or license to sell a company’s product or service at a designated location; an example would be McDonalds®. 

• Franchise
• Partnership
• Sole Proprietorship
• Corporation

A _________ is a legal agreement between two or more people, and is the least common form of business

• Franchise
• Partnership
• Sole Proprietorship
• Corporation

Which of the following is NOT a financing option suggested in the presentation? 

• Investors
• Loans
• Sale of assets
• Small Business Administration

Angel investors are wealthy individuals who seek high returns through private investments.

• True
• False

 ___________ are words, symbols, names or devices used to specify the source of the goods, and are used to differentiate them from others.

• Copyrights
• Patents
• Licenses
• Trademarks

Patents are issued by state governments.

• True
• False

Capital is wealth in the form of money or property.

• True
• False