Search Header Logo

Business Organization Vocab

Authored by Jen Zazzarino

Social Studies

12th Grade

Used 72+ times

Business Organization Vocab
AI

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

    Content View

    Student View

21 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

a business owned and run by a single person that has all of the rights to the profits as well as unlimited liability for all debts is known as a

corporation

partnership

sole proprietorship

franchise

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When an owner is personally and fully responsible for all losses and debts of a business they have

unlimited liability

limited liability

common stock

limited life

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When a firm ceases to exist when the owner dies or quits, the firm has

unlimited liability

limited liability

limited life

common stock

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

unincorporated business owned and operated by two or more people who share the profits and have unlimited liability for the debts and obligations of the firm

sole proprietorship

partnership

corporation

franchise

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

most common, all partners are responsible for the management and financial obligations of the business

limited partnership

general partnership

sole proprietorship

common stock

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

at least one partner is not active in the daily running of the business and has limited responsibility for debts/obligations

limited partnership

general partnership

common stock

unlimited liability

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

form of business organization recognized by law as a separate legal entity with all the rights of an individual

sole proprietorship

partnership

corporation

franchise

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?