Different kinds of business

The oldest, simplest, and most common type of business

• Sole Trader

• Partnership

• Franchise

• Cooperative

This kind of business is mostly common to professionals like doctors, lawyers, and accountants

• Franchise

• Store

• Sole Trader

• Partnership

Boutique shops, hair salons, sewing shops are examples of company.

• True

• False

This type of business is fully owned and operated by members of an organizations.

• Company

• Cooperative

• Partnership

• Sole Trader

What do we call the individuals who owned a company?

• Franchisee

• Franchisor

• Seller

• Shareholders

Is an agreement between a second party and the company, where the second party uses the company's name and products.

• company

• sole trader

• franchise

• cooperative

Shareholders cannot be a director of a company.

• True

• False

What do we call the person that franchise a company?

• Seller

• Franchisor

• Vendor

• Franchisee

In a business cooperative, all the earnings of the business will be divided equally.

• True

• False

A Sole trader have a partner to help with his/her business.

• True

• False