ME Types of Business Ownership
Authored by Lynley Payne
Other
9th - 12th Grade
Used 25+ times
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9 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Which type of business ownership is a separate legal entity from its owners?
Sole proprietorship
Partnership
Corporation
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Which type of business ownership is the most complex?
Sole proprietorship
Corporation
LLC
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Which type of business ownership does not require any paperwork with the state or federal governments?
Sole proprietorship
Partnership
Corporation
LLC
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Which type of business ownership allows the owner(s) to structure their business separately from their personal assets?
Sole proprietorship
Partnership
LLC
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Which type of business ownership requires a lawyer to officially exit the business?
Sole proprietorship
Partnership
Corporation
6.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Which type of business ownership requires that the owner use their own personal income for any damages or liabilities?
Sole proprietorship
Corporation
LLC
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Which type of business ownership requires that all parties enter into a legal agreement?
Sole proprietorship
Partnership
Corporation
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