types of businesses Review

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

A sole proprietorship is easier and less costly than starting any other form of business.

• Ture

• False

Partnership requires at least three people

• True

• False

Business owned by shareholders is

• Partnership

• Sole proprietorship

• Corporation

• Franchise

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

• Advertising

• Training

• Loan

• Equipment

A father who wants to take his son into the business with him should form this type of business.

• Sole Proprietorship

• Partnership

• Corporation

What does PLC stand for?

• Public Limited Company

• Profit/Liability Curve

• Princesses Like Crowns

• Probably Locking Cages

What is the simple difference between a public and private limited company?

• A public limited company is public and a private limited company is private.

• There are no differences.

• The public limited company can quote shares in a stock exchange while a private limited company cannot.

• One does not deal with shares while the other does.