Business Quiz 6.1

The book discusses several different types of ownership. How many types of ownership does the book mainly discuss

• 1

• 3

• 4

• 5

True or False...Corporations are the most common type of ownership in the U.S.?

• True

• False

True or False.....Sole Proprietorships generate the most revenue in the U.S.?

• True

• False

Answer explanation

Numbers sometimes lie! 72% of businesses are owned by individuals.

What is an L.L.C.?

• Limited Lease Chances

• Limitless Lease Chances

• Limited Liability Corporation

• Liable Loss Company

True or False.....Partnership type ownership is rarely successful?

• True

• False

A corporation is........................

• a business owned by two or more people who share its risks and rewards.

• a business owned by one person.

• a contractual agreement to use the name and sell the products or services of a company.

• a company that is registered by a state and operates apart from its owners.

A franchise is.............

• a company that is registered by a state and operates apart from it's owners.

• a contractual agreement to use the name and sell the products of a company.

• a business owned by two or more people.

• a business owned by one person.

True or False...... There is very little risk in opening a business?

• False

• True

True or False.....The book recommends everyone create and start a business?

• True

• False

True or False....Non Profit Organizations are known for paying their employees well

• False

• True