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Economics Chapter 8

Social Studies

12th Grade

CCSS covered

Used 1+ times

Economics Chapter 8
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33 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is an example of a sole Proprietorship?

McDonald’s

Baan Thai

Jojos in house refurbishment

Nail Envy

2.

MULTIPLE CHOICE QUESTION

5 sec • 1 pt

An owner of a sole Proprietorship is personality liable for all assets

True

False

3.

MULTIPLE CHOICE QUESTION

5 sec • 1 pt

A sole proprietorship has to share their profits with a partner

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why should you cover your business with insurance?

So that there is a lower chance of accidents happening

It is required by the state

To make your customers feel safer

To prevent your business from being completely screwed if you get sued

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Sole Proprietorships have a lower chance of...

Growing their capital

Being sued

personal liability

Failing in their first year

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

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

Sole Proprietorship
Partnership
Corporation
Franchise

7.

MULTIPLE CHOICE QUESTION

5 sec • 1 pt

Unlimited liability means?

The owner is personally liable to cover business debts and any costs the business can not cover

The owner(s) do not have to cover all business costs personally in the case of them being sued or going into debt

A corporation is not responsible for taking care of lawsuits

A sole Proprietorship will have enough money and coverage to pay any and all debts

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