Forms of Business Test

This type of business is owned by stockholders.

• Sole proprietorship
• Partnership
• Corporation
• Franchise

The type of business ownership in which all business decisions are the sole responsibility of the owner.

• Sole proprietorship
• Partnership
• Corporation
• Franchise

This type of business organization makes it easier to secure financing because more than one person may apply for credit.

• Sole proprietorship
• Partnership
• Corporation
• Franchise

Business form with only one owner

• Sole proprietorship
• Partnership
• Corporation
• Franchise

This type of ownership offers quick startup, an established business plan, recognizable trademark/brand, and a proven promotional strategy.

• Sole proprietorship
• Partnership
• Corporation
• Franchise

The Board of Directors control daily business operations for this type of business.

• Sole proprietorship
• Partnership
• Corporation
• Franchise

Owners (or stockholders) of this type of organization enjoy limited liability.

• Sole proprietorship
• Partnership
• Corporation
• Franchise

This type of partnership is less risky because this partner is only responsible for the contribution he/she has made to the partnership

• Sole proprietorship
• General Partnership
• Corporation
• Limited partnership

Which of the following is an example of a franchise?

• McDonalds
• Lightcliffe Academy
• Sports Direct
• Primark

Which of the following is an advantage of a partnership?

• Unlimited Liability
• Arguments
• Shared responsibility
• Less investors