Economics Chapter 3 Business Organizations
Authored by Steve Long
Social Studies
9th - 12th Grade
Used 14+ times
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37 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT one of the three main types of business organization?
Sole Proprietorship
Non-profit Organization
Partnership
Corporation
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
a business owned and ran by a single individual
Sole Proprietorship
Non-profit Organization
Partnership
Corporation
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
There are almost no requirements to start a sole proprietorship except for the occasional business license and fees.
True
False
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a sole proprietorship, profits must be shared with others.
True
False
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
an owner is personally and fully responsible for all losses and debts of the business
Unlimited Life
Limited Liability
Limited Life
Unlimited Liability
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
employee benefits such as paid vacations, sick leave, retirement, and insurance.
add ons
employee stock options
fringe benefits
employee perks
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the business legally ceases to exist when the owner dies, quits or sells the business.
Unlimited Life
Limited Liability
Limited Life
Unlimited Liability
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