types of businesses

What is a Sole Proprietorship?

• A business where 2 or more people share ownership

• A business owned by shareholders

• A business that is owned by one individual

What percentage of the profits in sole proprietorship is the owner designated to?

• 75%

• 100%

• 54%

• 0%

Which of the following is an advantage of sole proprietorship?

• Owner has complete control

• Owner gets all the stress

• Cannot raise capital

• All the above

Partnership requires at least three people

• True

• False

In partnership, decisions require agreement

• True

• False

Business owned by shareholders is

• Partnership

• Sole proprietorship

• Corporation

• Franchise

A group of people who jointly oversee the activities of a corporation

• Employees

• Board of Directors

• Volunteers

• None of the above

Franchisors usually provide all of the listed items except....

• Advertising

• Training

• Loan

• Equipment

What do we call a person who is willing to take the risks of starting a business in order to make a profit?

• Proprieter
• Partner
• Entrepreneur
• Incorporater

Which is NOT a basic type of business ownership?

• proprietorship
• partnership
• corporation
• retail