Business Organizations Quiz Review

Business Organizations Quiz Review

Assessment

Quiz

Social Studies

11th - 12th Grade

Medium

Created by

AARON GODDARD

Used 5+ times

FREE Resource

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16 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Purchasing shares in a company does not make you a part owner of the company.

True

False

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A disadvantage of a sole proprietorship is that it is easy to form.

True

False

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A corporation is considered privately held when it does not buy and sell stocks on the open market.

True

False

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Media Image

According to the chart above which statement below is true?

Corporations make up the majority of businesses.

Partnerships are more popular than sole proprietorships.

Partnerships make up only 8% of all businesses

Sole proprietorships do not make up the majority of all businesses.

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A __________ is when one partner is required to have unlimited personal liability for the firm.

Limited Liability Partnership (LLP)

General Partnership

Limited Partnership

Sole Proprietorship

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A _________ is a form of business organization recognized by law as a separate legal entity having all the rights of an individual

Conglomerate

Franchise

Partnership

Corporation

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

All of the following are disadvantages of sole proprietorships except,

complete control of the business.

limited lifetime of the owner.

limited capital.

unlimited liability.

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