Unit 2 Review

Unit 2 Review

9th - 12th Grade

•

25 Qs

quiz-placeholder

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Unit 2 Review

Unit 2 Review

Assessment

Quiz

•

Social Studies

•

9th - 12th Grade

•

Medium

Created by

Elizabeth DiNatale

Used 6+ times

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25 questions

Show all answers

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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