TYPES OF BUSINESS

TYPES OF BUSINESS

Professional Development

12 Qs

quiz-placeholder

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TYPES OF BUSINESS

TYPES OF BUSINESS

Assessment

Quiz

Business

Professional Development

Practice Problem

Easy

Created by

Ruth Castillo

Used 42+ times

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12 questions

Show all answers

1.

LABELLING QUESTION

2 mins • 7 pts

TYPES OF BUSINESS

a
b
c
d
e
f
g
corporation
sole proprietorship
co-op
limited partnership
non-profit
partnership
LLC

2.

DRAG AND DROP QUESTION

1 min • 2 pts

PARTNERSHIP; it can be general or limited.

In​ (a)   both partners invest with 100% of responsibility for any business debts. In ​ (b)   they describe who is responsible for certain debts.

general partnerships
limited partnerships

3.

MATCH QUESTION

1 min • 1 pt

PARTNERSHIP: advantages and disadvantages

More opportunities to increase collaboration

Distributed workload

Minimal legal documents.

Full liability

Business can stop if partners choose to end partnership

Combination of expertise

All members are liable for debts

Difficulty in transferring ownership

Share responsibilities

Easy to establish

4.

REORDER QUESTION

1 min • 4 pts

CORPORATION: advantages

aren't

responsible for

business debts

Owners

5.

REORDER QUESTION

1 min • 4 pts

CORPORATION: advantages

capital

through

Quick

stocks

6.

REORDER QUESTION

1 min • 4 pts

CORPORATION: disadvantages

at the corporate rate

before profits transfer

to the shareholders

They pay income tax

7.

REORDER QUESTION

1 min • 4 pts

CORPORATION: disadvantages

the management team

rather than the owners

may direct

business operations

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