Business Types

What is a Sole Proprietorship?

• A business where 2 or more people share ownership

• A business owned by shareholders

• A business that is owned by one individual

What percentage of the profits in sole proprietorship is the owner designated to?

• 75%

• 100%

• 54%

• 0%

Which of the following is an advantage of sole proprietorship?

• Owner has complete control

• Owner gets all the stress

• Cannot raise capital

• All the above

A sole proprietorship is easier and less costly than starting any other form of business.

• Ture

• False

Partnership requires at least three people

• True

• False

In partnership, decisions require agreement

• True

• False

Business owned by shareholders is

• Partnership

• Sole proprietorship

• Corporation

• Franchise

How many members are in a sole proprietorship?

• 4

• 2

• 1

• 3

Name the 4 Types of Business:

• franchise, corporation, partnership, sole proprietorship

• sole proprietorship, club, non-profit, franchise

• accounting, marketing, advertising, corporation

• Nike, State Farm, Hobby Lobby, Subway

Someone who wants to control all aspects of the business should form this type of business.

• non-profit

• partnership

• sole proprietorship

• franchise