
Chapter 6_Quiz "Types of Business Ownership"
Quiz
•
Business
•
9th - 12th Grade
•
Hard
Richard Douge
Used 51+ times
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25 questions
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1.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
What are the three main forms of business organization?
corporations, proprietorships, and stockholders
partnerships, corporations, and dividends.
sole proprietorships, partnerships, and corporations
partner proprietorships, corporations, and sole partnerships
2.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Which is true of a sole proprietorship?
A sole proprietorship is often difficult and complicated to start up.
Revenue for a sole proprietorship is usually higher than that for a corporation.
Sole proprietors share decision making with others.
Profits from a sole proprietorship are only taxed once
3.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
What does unlimited liability mean to the owner of a business?
The owner is responsible for all the company's debts.
The owner has limited credit.
The corporation is dissolved when the owner dies.
The company will fall if the owner does not have all the skills needed to run the business.
4.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Which type of business organization is a partnership most like?
limited liability
sole proprietorship
corporation
bank
5.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Which is NOT an advantage of forming a corporation?
The company continues even after one owner dies.
There is limited liability for the founder
Raising capital for startup is easier.
Profits are taxed twice: at the corporate level and at the shareholder level.
6.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
In order to become a corporation, what must a business have?
over 500 employees
double taxation
a corporate charter
stock certificates
7.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Which business structure contains both the benefits of a small business and a corporation?
cooperative
car sharing
nonprofit organization
franchise
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