Business Test

Items that can be seen and touched are known as...

• Goods

• Services

People who are part owners of a company are known as...

• Stakeholders

• Shareholders

• Customers

• People

Someone who starts, operates and assumes the risk of a business is known as an...

• Investor

• Interest person

• Entrepreneur

• Business inventor

The owner of a business being responsible for all debts is known as....

• Limited liability

• Unlimited liability

Environmental factors over which businesses have very little control over are known as...

• internal

• existing

• external

• international

What is the most common form of business ownership?

• Corporation
• Company
• Sole Proprietorship
• LLC

What is a form of business ownership in which 2 or more people jointly owns a business

• Sole Proprietorship
• Company
• Partnerships

What is a form of general partnership formed for a short period of time? 

• Limited Partnership
• Curtailed Partnership
• Joint Venture
• Timed Partnership

What type of business can be designated as profit or non-profit?

• Corporation
• Company
• Sole Proprietorship
• LLC

What type of corporation combines the benefits of a partnership and a corporation?

• Limited Liability Company
• Trust
• Company