Unit 2 Review
Quiz
•
Social Studies
•
9th - 12th Grade
•
Medium
Elizabeth DiNatale
Used 6+ times
FREE Resource
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25 questions
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1.
MULTIPLE SELECT QUESTION
30 sec • 5 pts
What is a Sole Proprietorship?
Business owned by president
Business owned by several companies
Business owned by one person
Business owned by a company
2.
MULTIPLE SELECT QUESTION
30 sec • 5 pts
Sole proprietorship business owner has
Restricted Liability
No Liability
Unlimited Liability
Limited Liability
3.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
A group of people elected by the stockholders of a corporation to set the policies for the corporation is known as?
Board of Directors
Revenue
Merger
4.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
A business which is owned by multiple shareholders is known as?
Corporation
Board of Directors
Conglomerate
5.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Unlimited liability means
Business owner is not responsible for financial loss
Business owner is responsible for all financial losses
Business owner pays only half financial loss
Business owner pays taxes
6.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Which of these is an advantage of a sole proprietorship?
It is recognized as a separate legal entity.
It is easy to attract qualified employees.
The owner does not have to share the profits of the business with anyone else.
The proprietor does not have to pay income taxes for the business.
7.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Which type of business offers the best chance for quick decision-making?
Sole proprietorship
General partnership
Limited partnership
Corporation
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