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Business Fundamentals Final Quiz

Authored by Stana Dubajic

Business

9th - 12th Grade

Used 7+ times

Business Fundamentals Final Quiz
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70 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What are the three main forms of business organization?

corporations, proprietorships, and stockholders

partnerships, corporations, and dividends

sole proprietorships, partnerships, and corporations

partner proprietorships, corporations, and sole partnerships

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What does unlimited liability mean to the owner of a business?

The owner is responsible for all the company's debts.

The owner has limited credit.

The corporation is dissolved when the owner dies.

The company will fail if the owner does not have all the skills needed to run the business.

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which type of business organization is a partnership most like?

limited liability

sole proprietorship

corporation

bank

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which is NOT an advantage of forming a corporation?

The company continues even after one owner dies.

There is limited liability for the founder.

Raising capital for startup is easier.

Profits are taxed twice: at the corporate level and at the shareholder level.

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

In order to become a corporation, what must a business have?

over 500 employees

double taxation

a corporate charter

stock certificates

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which business structure contains both the benefits of a small business and a corporation?

cooperative

car sharing

nonprofit organization

franchise

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which type of business makes a finished product, such as an automobile?

industry

manufacturer

processor

producer

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