Principles of Entrepreneurship Week 5- Quiz 5

Which of the following is NOT a type of business ownership?

• partnership

• sole proprietorship

• entrepreneurship

• franchise

Which of the following is a type of business which operates as a separate legal entity?

• corporation

• franchise

• partnership

• sole partnership

A _____ is the right or license to sell a company's product or service at a designated location; an example would be McDonalds.

• franchise

• partnership

• sold prprietorship

• corporation

This Business deals with selling good directly to the consumer

• Retail

• Service

• Trade

• Wholesaling

This Business deals with providing a service to a consumer, for a fee.

• Retail

• Service

• Trade

• Wholesaling

This Business deals with either a wholesale or retail business

• Retail

• Service

• Trade

• Wholesaling

This Business deals with buying and selling goods in large quantities, usually from manufacturers, and then will resell smaller quantities of these goods to retailers.

• Retail

• Service

• Trade

• Wholesaling

Business Owned by a Single Individual

• Sole Proprietor

• Partnership

• Corporation

• Cooperative

• Limited Liability Company (LLC)

Business Owned by Multiple Partners

• Sole Proprietor

• Partnership

• Corporation

• Cooperative

• Limited Liability Company (LLC)

Business Owned by its own Entity-Considered to be its own "PERSON"

• Sole Proprietor

• Partnership

• Corporation

• Cooperative

• Limited Liability Company (LLC)