Business Organizations Exit Ticket

Business Organizations Exit Ticket

9th - 12th Grade

15 Qs

quiz-placeholder

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Business Organizations Exit Ticket

Business Organizations Exit Ticket

Assessment

Quiz

Social Studies

9th - 12th Grade

Easy

Created by

Carrie Hastings

Used 3+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This type of business is owned by one person.

Partnership
Sole Proprietorship
Corporation
Franchise

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Advantages of this business type are that the owner is their own boss and gets to keep all the profits.

Partnership
Sole Proprietorship
Corporation
Franchise

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Disadvantages for this type of business include: owner pays for everything, hard to get money to start from the bank, owner might lack skills & unlimited liability.

Sole Proprietorship
Partnership
Corporation
Franchise

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A partnership in which all partners assume full personal liability for debts of the firm

limited partnership
trading partnership
non-trading partnership
general partnership

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Partners who are only responsible up to the extent of their investment

limited partnership
trading partnership
non-trading partnership
special partnership

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a major advantage of a business that is a partnership rather than a sole proprietorship?

The responsibility for the business is shared
The business is easy to set up
The partners are not responsible for business debts
The business is easy to sell

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is a disadvantage of corporations:

High taxes
Unlimited life
Unlimited liability
financial power

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