
Business Structures
Quiz
•
Business
•
University
•
Practice Problem
•
Easy
Emily Blott
Used 2+ times
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8 questions
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1.
MULTIPLE SELECT QUESTION
45 sec • 5 pts
What are things to consider when choosing a business structure? (Choose all that apply)
Level of risk involved
Capital requirements
Size of the business
Purpose of the enterprise
2.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
An individual who owns a business enterprise as a principal
Franchise
Sole proprietorship
Company
Trust
3.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
2-20 people carrying on a business / a commercial relationship
Proprietorship
Property
Trust
Partnership
4.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Partnership advantages include:
Easy to dissolve and recover share
Not a separate legal entity
Hard to change ownership
Partners are fully responsible
5.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
equitable obligation that rests on a person who is personally responsible to deal with specified property for the benefit of another person
Trust
Partnership
Proprietorship
Franchisor
6.
MULTIPLE SELECT QUESTION
45 sec • 5 pts
What are the 3 individuals within a trust
Owner
Settlor
Trustee
Beneficiary
7.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
What is a disadvantage of trusts?
Flexible distributions
Morals
Can be expensive to establish
Limited liability
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