Econ 3-1 Forms of Business Ownership
12th Grade
•10 Qs
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Econ 3-1 Forms of Business Ownership
Quiz
•
Social Studies
•
12th Grade
•
Hard
Andrew Soultz
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A business owned and operated by one person
Sole Proprietorship
Partnership
Corporation
Limited Partner
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Most common form of business in the USA
Sole Proprietorship
Partnership
Corporation
General Partner
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Stock of finished goods
Sole Proprietorship
Partnership
Corporation
Inventory
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
owner is personally responsible for all losses and debts of the business
Limited Life
Partnership
Corporation
Unlimited Liability
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Two or more individuals agree to own and operate a business together
Limited Life
Partnership
Corporation
Unlimited Liability
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Responsible for the everyday operation of the business
Limited Life
Partnership
General Partner
Unlimited Liability
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
a legal creation that acquires resources, owns assets, produces and sells products, incurs debts, extends credit, sues & is sued, and performs the functions of any other enterprise
Limited Life
Partnership
Corporation
Unlimited Liability
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