
Entrepreneurship - Ch. 7 Review (Types of Ownership)
Authored by Austin Klumpe
Life Skills
10th - 12th Grade
CCSS covered
Used 31+ times

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36 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A _____ is a legal agreement that gives an individual the right to market a company's products or services in a particular area.
franchise
LLC
sole proprietorship
partnership
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The initial franchise fee is the amount the local franchise owner pays in return for the right to run the franchise.
true
false
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
_____ are the costs associated with beginning a business.
Start down costs
Start up costs
Expense ratios
Price per earnings
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A_______________ is a business that is owned and operated by one person.
cooperative
sole proprietorship
limited partnership
creative proprietorship
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An owner who has full responsibility for all debts and actions of the business is said to have_____________.
liability protection
unlimited liability
equity
limited partnership
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A ___________ is an unincorporated business with two or more owners.
venture
proprietorship
partnership
corporation
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A ___________ is a business registered by a state that operates apart from its owners.
firm
proprietorship
company
corporation
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