Business Organization - Terms
Quiz
•
Professional Development
•
10th - 12th Grade
•
Hard
Lisa Dawson
Used 28+ times
FREE Resource
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11 questions
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1.
FILL IN THE BLANK QUESTION
30 sec • 1 pt
What is the form of business in which one person owns all its assets and has full personal liability for all its debts?
2.
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1 min • 1 pt
What is an association of two or more persons, as coowners, to carry on a business for profit?
3.
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1 min • 1 pt
What is the legal entity or artificial person that is created by or under the authority of the laws of a state?
4.
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1 min • 1 pt
What is a partnership that buys and sells goods and services commercially?
5.
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1 min • 1 pt
What is an explicit statement, orally or in writing, of the terms and conditions agreed to by the partners for running the partnership?
6.
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1 min • 1 pt
Who assumes full personal liability for debts of the firm?
7.
FILL IN THE BLANK QUESTION
1 min • 1 pt
What is a partnership that provides professional and noncommercial assistance or advice?
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