ECO 7 Business Organizations

ECO 7 Business Organizations

12th Grade

16 Qs

quiz-placeholder

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ECO 7 Business Organizations

ECO 7 Business Organizations

Assessment

Quiz

Social Studies

12th Grade

Medium

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16 questions

Show all answers

1.

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

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Joe is starting a small home-based consulting business. He possesses computer knowledge but lacks the marketing skills that his friend does who also wants to start a business. The form of business ownership that Joe might consider establishing is a(n)

corporation

sole proprietorship

monopoly

general partnership.

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is a disadvantage of corporations:

High taxes
Unlimited life
Unlimited liability
financial power

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is an advantage of the corporation as a form of business ownership:

Less complex requirements
Separate owners and managers
Limited liability
High Taxes

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The owners of a corporation are called

Directors
Partners
Shareholders
Founders

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Most expensive to start

Sole Proprietorship
Partnership
Corporation

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Shortest lifespan with the least amount of capital resources

Sole Proprietorship

Partnership

Corporation

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