AB: Types of Ownership

Which of the following is the most common form of business ownership

• Sole proprietorship

• Partnership

• Corporation

• Franchise

Which of the following is NOT a disadvantage of sole proprietorship

• Owner has limited skills

• Harder to raise money

• High start-up costs

• Higher governmental regulation

Which of the following types of business ownership includes contract farming?

• Corporations

• Sole propiertorship

• Partnerships

• Cooperatives

Which of the following types of business ownership includes corporate farming?

• Corporations

• Sole propiertorship

• Partnerships

• Cooperatives

Which of the following is NOT an advantage of an agriculture cooperative (co-op)

• Voluntary membership

• Locations are limited

• Each member gets a vote

• Helps other co-ops

Check all that apply to advantages of sole proprietorship

• Entitled to all profits of the business

• Ability to make business decisions

• Relatively easy to start

• High start-up costs

What provides the right to license/sell a company's product or service at a designated location?

• Corporations

• Sole propiertorship

• Franchises

• Cooperatives