
Types of Businesses
Authored by Erik Villagomez
Social Studies
12th Grade
CCSS covered
Used 4+ times

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14 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is a corporation different from a sole proprietorship or partnership?
A corporation has only one or two owners.
A corporation is usually owned by one person.
A corporation requires a legal charter with the state.
The owners (stockholders) have limited liability.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of business allows the owner to keep all of the profit for him/herself?
Partnership
Franchise
Sole Proprietorship
Corporation
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which business type is most difficult to start out of all four types of businesses?
Partnership
Franchise
Sole Proprietorship
Corporation
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is a corporation different from a sole proprietorship?
Sole proprietorship's require a legal charter to start.
Sole proprietorships can be global/multinational businesses.
Corporations are owned by only one person.
Corporations can sell stock to raise money for the business.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an advantage of a franchise over a sole proprietorship?
Parent company provides training and support to franchisee.
Parent company will pay all of franchisee's start up cost.
Franchises must sell only certain products or services.
Some franchisors are strict about how the business is run.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which business depends on just one person for the skills and talents to run the business?
Sole Proprietorship
Partnership
Corporation
Franchise
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of business has limited liability?
Sole Proprietorship
Partnership
Corporation
Franchise
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