
Entrepreneurship Spring Final Review
Quiz
•
Life Skills
•
9th - 12th Grade
•
Medium
Stephanie Dangelo
Used 4+ times
FREE Resource
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42 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A corporation is a legal structure in which the business is considered an "entity" under law.
true
false
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Legal structure is
the type of business ownership set up for the business.
the business that is considered an "entity" under the law.
the payment that corporations make to their shareholders as a share of the profit.
a business owned, controlled, and operated by people who use its services.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A partnership is two or more individuals that share the management, profit, and liability of a business.
true
false
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To set up a corporation in accordance with the laws where the business is located means to
incorporate.
create a cooperative
create a corporation,
none of these
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A cooperative is a business owned, controlled, and operated by people who use its services.
true
false
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A limited liability company
combines the liability benefits of a corporation with the tax benefits of a sole proprietorship or partnership.
is a business owned, controlled, and operated by people who use its services.
operates not to provide profit for its shareholders, but to serve the good of the society.
is a type of business owned by a single shareholder.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Expenses are things you will have to purchase to keep the business running.
true
false
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