BONUS: BUSINESS/PROPERTY/MARKET

Advantages of this type of business include: selling stock to raise money, limited liability.

• Sole Proprietorship
• Partnership
• Corporation
• Franchise

Disadvantages of this type of business include: company is taxed on profits, regulated by the government, and hard to start.

• Sole Proprietorship
• Partnership
• Corporation
• Franchise

How is a corporation different from a sole proprietorship?

• Corporations are owned by only one person
• Corporations can sell stock to raise money for the business. 
• Sole proprietorships have limited liability for the owners.
• Sole proprietorships require a legal charter to start the business.

When comparing the four main types of business organization, which type protects owners the MOST from personal financial liability due to being sued by a customer?

• Corporation
• Franchise
• Partnership
• Sole proprietorship

A business owned by only one person is called a 

• Corporation
• Sole Proprietorship
• Partnership
• Soley

Which of the following is an advantage of sole proprietorships:

• Limited liability
• Unlimited financial power
• Dual taxation
• Quick decision making

Which of the following is a disadvantage of sole proprietorships:

• Limited capital
• Control 
• Privacy
• Tax liability

Which of the following is a disadvantage of corporations:

• High taxes
• Unlimited life
• Unlimited liability
• financial power

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.

Disadvantages include double taxation and more government regulation

• Sole Propriotorship
• Partnership
• Corporation