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Ch. 3 Test Review

Authored by Jesse Perrin

History

12th Grade

Used 13+ times

Ch. 3 Test Review
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40 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A company with one owner who is responsible for all of the liability and takes all the risk.

Partnership
Limited Partnership
General Partnership
Sole Proprietorship 

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A company with one or more partners only responsible up to the amount of the investment in the company

Partnership
Limited Partnership
General Partnership
Sole Proprietorship 

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A company with all partners equally responsible for management and financial risks and obligations  of the company

Corporation
Limited Partnership
General Partnership
Sole Proprietorship 

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The company itself has all liability. Partners buy shares of stock and can sell them if they no longer want to be a part of the company.

Corporation
Limited Partnership
General Partnership
Sole Proprietorship 

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

One vote for each share owned. Elects board of directors who run the company. 

Common Stock
Preferred Stock
Startup
Proprieortiship 

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Government document that gives permission to create a corporation.

Charter
Shareholder
Conglomerate
Multinational

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The most common form of business organization in the United States. 

Partnership
Limited Partnership
General Partnership
Sole Proprietorship 

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