Business Plan, FOB, types of businesses

Business Plan, FOB, types of businesses

8th - 12th Grade

13 Qs

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Business Plan, FOB, types of businesses

Business Plan, FOB, types of businesses

Assessment

Quiz

8th - 12th Grade

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Created by

Nicole Mallory

Used 17+ times

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13 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

business owned and run just by one person

partnership

corporation

proprietorship

2.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

business owned and controlled by two or more people who have entered into an agreement

corporation

Partnership

Proprietorship

3.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

separate legal entity formed by documents filed with a state.

partnership

corporation

proprietorship

4.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Gives owner sole control over all business decisions.

Owner receives all profits made by the business.

Can determine how those profits are used

corporation

franchise

proprietorship

5.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

If the business fails, the owner has almost no shelter from creditors

corporation

partnership and proprietorship

proprietorship

6.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Owned by or more shareholders and managed by a BOD. Several owners who invest in business by purchasing shares of stocks. More difficult to form. Must meet legal requirements. Not all owners have direct involvement in decision-making

proprietorship

corporation

partnership

7.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

›a written agreement among all owners.

Partnership agreement

Corporation Agreement

BOD Agreement

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