
Types of Business Ownership
Authored by Jeff Langer
Computers
8th - 12th Grade
30 Questions
Used 236+ times

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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A form of business ownership that operates under a charter issued by the state is called a(n):
corporation.
sole proprietorship.
general partnership.
entrepreneur.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Joan borrowed $10,000 from a relative to start her own business. Assuming she takes all responsibility for the company's financial risks, the company is most likely a:
sole proprietorship.
limited partnership.
corporation.
partnership.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A business that is owned by two or more people who share the risk of loss and the chance for profit is known as a:
partnership.
sole proprietorship.
franchise.
corporation.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The business agreement under which a business distributes the goods or services of a parent company is called a:
franchise.
corporation.
partnership.
proprietorship.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a characteristic of a business-format franchise:
continuous assistance is provided by the franchisor.
products are bought directly from the supplier.
it is the least popular franchise arrangement.
the name of the business is chosen by the franchisee.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What type of business is owned by stockholders who share the business's profits?
Corporation
Partnership
Cooperative
Sole Proprietorship
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A type of business ownership in which one or more of the owners does not have full liability is called a:
limited partnership.
general partnership.
sole proprietorship.
service organization.
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