Types of Business

Types of Business

9th - 12th Grade

35 Qs

quiz-placeholder

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Types of Business

Types of Business

Assessment

Quiz

Business

9th - 12th Grade

Medium

CCSS
RI.11-12.3, RI.8.2, RI.11-12.5

+7

Standards-aligned

Created by

Latoya Kelly-Murray

Used 9+ times

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35 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

This type of business is owned by one person.

Partnership
Sole Proprietorship
Corporation
Franchise

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This type of business is owned by two or more people.

Sole Proprietorship
Partnership
Corporation
Franchise

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Advantages of this business type are that the owner is their own boss and gets to keep all the profits.

Partnership
Sole Proprietorship
Corporation
Franchise

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Disadvantages for this type of business include: owner pays for everything, hard to get money to start from the bank, owner might lack skills & unlimited liability.

Sole Proprietorship
Partnership
Corporation
Franchise

5.

MULTIPLE CHOICE QUESTION

5 sec • 1 pt

Disadvantages of this business type include: needs a partnership agreement, partners might not get along, owners share profits, unlimited liability.

Sole Proprietorship
Partnership
Corporation
Franchise

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A business owned and controlled by at least two people who have entered into a written agreement.

proprietorship
partnership
corporation
conglomerate

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A business owner who prefers to maintain complete control of all business activities might consider structuring the venture as a(n)

sole proprietorship
general partnership.
franchise
 corporation.

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