
Business Law Vocabulary
Quiz
•
Other
•
9th - 12th Grade
•
Hard
Entrece Mosley
Used 3+ times
FREE Resource
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20 questions
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1.
FILL IN THE BLANK QUESTION
30 sec • 5 pts
What is the form of business in which one person owns all its assets and has full personal liability for all its debts?
2.
FILL IN THE BLANK QUESTION
30 sec • 5 pts
What is an association of two or more persons, as coowners, to carry on a business for profit?
3.
FILL IN THE BLANK QUESTION
30 sec • 5 pts
What is the legal entity or artificial person that is created by or under the authority of the laws of a state?
4.
FILL IN THE BLANK QUESTION
30 sec • 5 pts
What is a partnership that buys and sells goods and services commercially?
5.
FILL IN THE BLANK QUESTION
30 sec • 5 pts
What is an explicit statement, orally or in writing, of the terms and conditions agreed to by the partners for running the partnership?
6.
FILL IN THE BLANK QUESTION
30 sec • 5 pts
Who assumes full personal liability for debts of the firm?
7.
FILL IN THE BLANK QUESTION
30 sec • 5 pts
What is a partnership that provides professional and noncommercial assistance or advice?
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